Insider Buying: Element Fleet Management (TSE:EFN) Insider Purchases 813 Shares of Stock

Key Points

• Insider Activity: Heath Leslie Valkenburg, an insider at Element Fleet Management, purchased 813 shares at C$36.90 each, totaling about C$29,999.70, increasing his ownership by 24.34%.
• Stock Performance: Element Fleet Management's stock price rose by 0.5%, reaching C$37.14, while maintaining a solid market cap of C$14.91 billion.
• Analyst Ratings: The company received multiple price target upgrades, with projections now ranging from C$40.00 to C$47.00, indicating a consensus rating of "Moderate Buy."

Element Fleet Management Corp. (TSE:EFN - Get Free Report) insider Heath Leslie Valkenburg purchased 813 shares of the stock in a transaction dated Wednesday, September 10th. The shares were purchased at an average price of C$36.90 per share, with a total value of C$29,999.70. Following the completion of the transaction, the insider owned 4,153 shares of the company's stock, valued at approximately C$153,245.70. This trade represents a 24.34% increase in their ownership of the stock.

Element Fleet Management Stock Up 0.2%

Shares of TSE EFN traded up C$0.07 during mid-day trading on Tuesday, hitting C$37.21. The company had a trading volume of 693,355 shares, compared to its average volume of 591,070. The company has a market capitalization of C$14.94 billion, a PE ratio of 37.21, a price-to-earnings-growth ratio of 2.97 and a beta of 0.54. The company has a debt-to-equity ratio of 303.64, a current ratio of 7.04 and a quick ratio of 5.70. Element Fleet Management Corp. has a 1-year low of C$25.00 and a 1-year high of C$37.69. The business's 50-day simple moving average is C$36.36 and its 200 day simple moving average is C$32.74.

Element Fleet Management Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, June 30th. Element Fleet Management's dividend payout ratio (DPR) is presently 36.52%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EFN. National Bankshares increased their price objective on Element Fleet Management from C$46.00 to C$47.00 in a research note on Thursday, August 7th. BMO Capital Markets raised their price target on Element Fleet Management from C$35.00 to C$40.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Raymond James Financial raised their price target on Element Fleet Management from C$36.00 to C$40.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 7th. TD Securities raised their price target on Element Fleet Management from C$41.00 to C$42.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Royal Bank Of Canada raised their price target on Element Fleet Management from C$43.00 to C$47.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$40.00.

Element Fleet Management Company Profile

Element Financial separated into two independent public companies in October 2016. The former company now consists of Element Fleet Management, a global fleet management company, and ECN Capital, a commercial finance company. Element Fleet Management provides management services and financing for commercial vehicle and equipment fleets.