Acadian Asset Management LLC Acquires 612,549 Shares of Enerflex Ltd. $EFXT

Key Points

• Acadian Asset Management LLC increased its stake in Enerflex Ltd. by 61.7%, acquiring an additional 612,549 shares, bringing its total ownership to approximately 1.29% valued at $12.4 million.
• Recent analyst reports have resulted in multiple upgrades for Enerflex, with BMO Capital Markets and Raymond James maintaining an "outperform" rating, while Wall Street Zen upgraded the stock to "strong-buy" with a target price increase to $13.00.
• Enerflex announced a quarterly dividend increase to $0.0375 per share, resulting in an annualized dividend yield of 1.4%, reflecting the company's strong financial performance with a last reported quarterly earnings of $0.49 per share.

Acadian Asset Management LLC lifted its position in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 61.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,606,125 shares of the company's stock after purchasing an additional 612,549 shares during the quarter. Acadian Asset Management LLC owned 1.29% of Enerflex worth $12,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in Enerflex by 42.2% in 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 acquiring an additional 1,863,470 shares in the last quarter. Millennium Management LLC lifted its position in Enerflex by 351.0% in the 1st quarter. Millennium Management LLC now owns 1,131,144 shares of the company's stock valued at $8,747,000 after acquiring an additional 880,358 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Enerflex by 51.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,203,297 shares of the company's stock valued at $17,031,000 after acquiring an additional 752,893 shares in the last quarter. TD Asset Management Inc lifted its position in Enerflex by 59.8% in the 1st quarter. TD Asset Management Inc now owns 1,891,990 shares of the company's stock valued at $14,618,000 after acquiring an additional 708,153 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in Enerflex by 263.9% in the 4th quarter. Two Sigma Investments LP now owns 659,690 shares of the company's stock valued at $6,564,000 after acquiring an additional 478,407 shares in the last quarter. 46.47% of the stock is owned by institutional investors.

Enerflex Stock Performance

Shares of Enerflex stock traded down $0.07 during trading on Wednesday, hitting $10.71. 83,657 shares of the stock were exchanged, compared to its average volume of 406,012. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.29 and a beta of 2.01. The company has a fifty day moving average price of $9.11 and a 200-day moving average price of $7.91. Enerflex Ltd. has a 1-year low of $5.50 and a 1-year high of $10.85. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65.

Enerflex (NYSE:EFXT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.07 by $0.42. The business had revenue of $615.00 million during the quarter, compared to the consensus estimate of $555.24 million. Enerflex had a net margin of 5.54% and a return on equity of 10.21%. As a group, equities analysts predict 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. Investors of record on Monday, August 18th were issued a dividend of $0.0375 per share. This represents a $0.15 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, August 18th. This is a positive change from Enerflex's previous quarterly dividend of $0.03. Enerflex's payout ratio is presently 9.62%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EFXT shares. Royal Bank Of Canada lifted their price target on shares of Enerflex from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. BMO Capital Markets reiterated an "outperform" rating on shares of Enerflex in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Enerflex from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Enerflex in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Enerflex has an average rating of "Moderate Buy" and an average target price of $11.13.

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.