Element Fleet Management (TSE:EFN) Insider Sells C$2,385,852.30 in Stock

Key Points

• Insider sale: Jacob Eisenberg sold 90,855 Element Fleet Management shares for approximately C$2.39 million at C$26.26 each, reducing his direct stake by 58.33% to 64,897 shares.
• Stock and financial performance: EFN traded near C$26, close to its 52-week low of C$25.32. The company reported quarterly EPS of C$0.48 on revenue of C$451.94 million and has a 2.3% dividend yield.
• Analyst outlook: Despite recent target-price cuts, seven analysts rate the stock a Buy, with an average price target of C$42.14—well above its reported trading price.

Element Fleet Management Corp. (TSE:EFN - Get Free Report) insider Jacob Eisenberg sold 90,855 shares of the firm's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of C$26.26, for a total transaction of C$2,385,852.30. Following the completion of the transaction, the insider directly owned 64,897 shares in the company, valued at C$1,704,195.22. This represents a 58.33% decrease in their position.

Element Fleet Management Stock Performance

EFN stock traded down C$0.19 during midday trading on Wednesday, reaching C$26.00. The company had a trading volume of 699,604 shares, compared to its average volume of 1,008,404. The company has a quick ratio of 5.70, a current ratio of -1,179.03 and a debt-to-equity ratio of 357.23. The stock has a 50 day moving average price of C$29.34 and a 200 day moving average price of C$29.96. Element Fleet Management Corp. has a fifty-two week low of C$25.32 and a fifty-two week high of C$38.26. The firm has a market capitalization of C$10.17 billion, a PE ratio of 35.14, a P/E/G ratio of 2.97 and a beta of 0.61.

Element Fleet Management (TSE:EFN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The financial services provider reported C$0.48 earnings per share for the quarter. The business had revenue of C$451.94 million for the quarter. Element Fleet Management had a return on equity of 10.57% and a net margin of 12.17%. Analysts anticipate that Element Fleet Management Corp. will post 1.6884016 earnings per share for the current year.

Element Fleet Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 2.3%. Element Fleet Management's dividend payout ratio (DPR) is currently 54.26%.

Analysts Set New Price Targets

EFN has been the subject of several analyst reports. Royal Bank Of Canada reduced their price target on shares of Element Fleet Management from C$47.00 to C$40.00 and set an "outperform" rating for the company in a report on Friday, May 8th. Raymond James Financial downgraded shares of Element Fleet Management from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from C$42.50 to C$42.00 in a research report on Thursday, May 7th. Finally, TD reduced their target price on shares of Element Fleet Management from C$41.00 to C$38.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, Element Fleet Management has an average rating of "Buy" and an average price target of C$42.14.

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. The company's suite of fleet management services deals with acquisition and financing, to program management and remarketing. ECN Capital operates across North America in three verticals of the equipment finance market: commercial and vendor finance, rail finance, and commercial aviation finance.

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