181,334 Shares in Enerflex Ltd. $EFXT Bought by Ritholtz Wealth Management

Key Points

• Ritholtz Wealth Management purchased 181,334 shares of Enerflex Ltd. for about $1,431,000 during the 2nd quarter, representing a 0.15% ownership in the company.
• Enerflex recently announced an increase in its quarterly dividend to $0.0375 per share, marking its annual yield at 1.4% and reflecting a dividend payout ratio of 10.58%.
• Analysts have a consensus rating of "Moderate Buy" for Enerflex with a target price of $12.13, with notable upgrades from firms like Zacks Research and Wall Street Zen.

Ritholtz Wealth Management bought a new position in Enerflex Ltd. (NYSE:EFXT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 181,334 shares of the company's stock, valued at approximately $1,431,000. Ritholtz Wealth Management owned 0.15% of Enerflex as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in Enerflex by 42.2% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,282,450 shares of the company's stock valued at $48,555,000 after purchasing an additional 1,863,470 shares during the period. Mackenzie Financial Corp increased its position in Enerflex by 8.6% during the 1st quarter. Mackenzie Financial Corp now owns 4,977,243 shares of the company's stock valued at $38,459,000 after purchasing an additional 394,496 shares during the period. Goldman Sachs Group Inc. increased its position in Enerflex by 51.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company's stock valued at $17,031,000 after purchasing an additional 752,893 shares during the period. TD Asset Management Inc increased its position in Enerflex by 59.8% during the 1st quarter. TD Asset Management Inc now owns 1,891,990 shares of the company's stock valued at $14,618,000 after purchasing an additional 708,153 shares during the period. Finally, Acadian Asset Management LLC increased its position in Enerflex by 61.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,606,125 shares of the company's stock valued at $12,395,000 after purchasing an additional 612,549 shares during the period. 46.47% of the stock is owned by hedge funds and other institutional investors.

Enerflex Stock Performance

Shares of Enerflex stock opened at $10.76 on Friday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 10.34 and a beta of 2.01. The firm's 50-day moving average is $10.44 and its 200 day moving average is $8.46. Enerflex Ltd. has a 1 year low of $6.18 and a 1 year high of $11.74. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.19 and a quick ratio of 0.88.

Enerflex (NYSE:EFXT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.42. The company had revenue of $615.00 million for the quarter, compared to analysts' expectations of $555.24 million. Enerflex had a net margin of 5.54% and a return on equity of 10.21%. Sell-side analysts anticipate that Enerflex Ltd. will post 0.25 EPS for the current fiscal year.

Enerflex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.0375 per share. The ex-dividend date was Monday, August 18th. This represents a $0.15 annualized dividend and a yield of 1.4%. This is an increase from Enerflex's previous quarterly dividend of $0.03. Enerflex's dividend payout ratio (DPR) is currently 10.58%.

Wall Street Analyst Weigh In

EFXT has been the topic of a number of research analyst reports. Zacks Research raised shares of Enerflex from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Wall Street Zen raised shares of Enerflex from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Enerflex in a research report on Wednesday, October 8th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.13.

Enerflex Company Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.

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