Acadian Asset Management LLC Purchases 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 grew its position in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 61.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,606,125 shares of the company's stock after buying an additional 612,549 shares during the period. Acadian Asset Management LLC owned approximately 1.29% of Enerflex worth $12,395,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of EFXT. Lazard Asset Management LLC bought a new position in shares of Enerflex in the fourth quarter worth $82,000. Bank of New York Mellon Corp bought a new position in shares of Enerflex in the first quarter worth $130,000. NewEdge Advisors LLC increased its position in shares of Enerflex by 984.3% in the first quarter. NewEdge Advisors LLC now owns 22,791 shares of the company's stock worth $176,000 after purchasing an additional 20,689 shares during the period. Magnetar Financial LLC bought a new position in shares of Enerflex in the first quarter worth $192,000. Finally, Toronto Dominion Bank bought a new position in shares of Enerflex in the fourth quarter worth $208,000. Institutional investors own 46.47% of the company's stock.

Wall Street Analysts Forecast Growth

EFXT has been the topic of a number of recent analyst reports. BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Raymond James Financial restated an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Wall Street Zen upgraded Enerflex from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, Royal Bank Of Canada raised their price objective on Enerflex from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $11.13.

Enerflex Stock Performance

NYSE:EFXT opened at $10.50 on Friday. The stock's 50-day simple moving average is $8.94 and its 200 day simple moving average is $7.85. Enerflex Ltd. has a twelve month low of $5.30 and a twelve month high of $10.61. The firm has a market capitalization of $1.28 billion, a PE ratio of 10.10 and a beta of 2.01. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.65.

Enerflex (NYSE:EFXT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 10.21% and a net margin of 5.54%. On average, analysts anticipate that Enerflex Ltd. will post 0.25 EPS for the current fiscal year.

Enerflex Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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%. This is an increase from Enerflex's previous quarterly dividend of $0.03. The ex-dividend date was Monday, August 18th. Enerflex's dividend payout ratio (DPR) is presently 10.58%.

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.

Want to see what other hedge funds are holding EFXT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enerflex Ltd. (NYSE:EFXT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.