143,646 Shares in Enerflex Ltd. $EFXT Acquired by Man Group plc

Key Points

• Man Group acquired 143,646 Enerflex shares worth approximately $3.53 million, giving it a 0.12% stake; institutional investors collectively own 46.47% of the company.
• Enerflex’s latest quarterly results fell short of expectations, with EPS of $0.25 versus a $0.31 consensus estimate and revenue of $582 million versus $606.78 million expected.
• The company declared a quarterly dividend of $0.0425, or $0.17 annualized, yielding about 0.8%. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $35.17.

Man Group plc purchased a new position in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 143,646 shares of the company's stock, valued at approximately $3,526,000. Man Group plc owned about 0.12% of Enerflex at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Baron Wealth Management LLC boosted its position in shares of Enerflex by 2.5% in the second quarter. Baron Wealth Management LLC now owns 30,530 shares of the company's stock worth $748,000 after purchasing an additional 751 shares during the period. Neuberger Berman Group LLC raised its position in shares of Enerflex by 0.8% during the 4th quarter. Neuberger Berman Group LLC now owns 118,504 shares of the company's stock valued at $1,829,000 after purchasing an additional 883 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Enerflex by 4.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 24,089 shares of the company's stock valued at $502,000 after buying an additional 1,017 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Enerflex by 3.2% during the 4th quarter. NewEdge Advisors LLC now owns 33,744 shares of the company's stock valued at $521,000 after buying an additional 1,033 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Enerflex by 0.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 157,255 shares of the company's stock worth $1,696,000 after buying an additional 1,035 shares during the period. Institutional investors own 46.47% of the company's stock.

Enerflex Stock Performance

Shares of NYSE:EFXT opened at $20.37 on Tuesday. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 47.37 and a beta of 1.86. Enerflex Ltd. has a 12 month low of $9.81 and a 12 month high of $29.15. The firm's 50-day moving average is $22.42 and its 200 day moving average is $23.00. The company has a current ratio of 1.19, a quick ratio of 0.86 and a debt-to-equity ratio of 0.49.

Enerflex (NYSE:EFXT - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.06). Enerflex had a return on equity of 11.76% and a net margin of 2.06%.The company had revenue of $582.00 million during the quarter, compared to analysts' expectations of $606.78 million. Research analysts predict that Enerflex Ltd. will post 1.34 EPS for the current year.

Enerflex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a $0.0425 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.17 dividend on an annualized basis and a dividend yield of 0.8%. Enerflex's dividend payout ratio (DPR) is currently 27.91%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EFXT shares. Raymond James Financial upped their target price on shares of Enerflex from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Thursday, May 28th. National Bank Financial upgraded shares of Enerflex from a "sector perform" rating to an "outperform" rating in a research note on Thursday, May 7th. Royal Bank Of Canada increased their price objective on shares of Enerflex from $31.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, May 28th. BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a research report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce set a $27.50 target price on Enerflex in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Enerflex has a consensus rating of "Moderate Buy" and a consensus price target of $35.17.

About Enerflex

Enerflex Ltd is a Calgary‐headquartered energy infrastructure company specializing in the design, fabrication, installation and aftermarket support of natural gas compression, processing, refrigeration and treatment equipment. Its product portfolio includes reciprocating and centrifugal compression systems, gas treating and refrigeration packages, fuel gas conditioning and liquid separation solutions. In addition to equipment sales, Enerflex delivers field services such as commissioning, maintenance, monitoring and parts supply to optimize asset performance throughout the lifecycle.

The company supports upstream, midstream and downstream energy customers through an integrated offering that spans engineering, procurement and construction (EPC) as well as modular fabrication.

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