Charles Schwab Investment Management Inc. Sells 43,743 Shares of Enerflex Ltd. $EFXT

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Enerflex Ltd. by 13.6% to 278,577 shares, bringing its investment to $2.15 million.
• Enerflex reported a significantly better-than-expected quarterly earnings of $0.49 EPS against an estimate of $0.07, along with a revenue of $615 million.
• The company announced an increase in its quarterly dividend to $0.0375, representing an annualized dividend of $0.15 with a yield of 1.5%.

Charles Schwab Investment Management Inc. lowered its position in shares of Enerflex Ltd. (NYSE:EFXT - Free Report) by 13.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 278,577 shares of the company's stock after selling 43,743 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.22% of Enerflex worth $2,152,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in Enerflex by 1,046.0% during the fourth quarter. Bank of America Corp DE now owns 391,211 shares of the company's stock valued at $3,893,000 after buying an additional 357,073 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of Enerflex in the 1st quarter worth about $348,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Enerflex in the 4th quarter worth about $401,000. Lazard Asset Management LLC purchased a new position in shares of Enerflex in the 4th quarter worth about $82,000. Finally, Millennium Management LLC raised its position in shares of Enerflex by 1,158.8% in the 4th quarter. Millennium Management LLC now owns 250,786 shares of the company's stock worth $2,495,000 after purchasing an additional 230,864 shares during the last quarter. Hedge funds and other institutional investors own 46.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on EFXT shares. Royal Bank Of Canada boosted their target price on Enerflex from $12.00 to $13.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. CIBC decreased their target price on Enerflex from $10.00 to $9.25 and set a "neutral" rating for the company in a research report on Friday, May 9th. Raymond James Financial reissued an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. BMO Capital Markets reissued an "outperform" rating on shares of Enerflex in a research report on Friday, August 8th. Finally, Wall Street Zen raised Enerflex from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $11.13.

Enerflex Stock Performance

Shares of NYSE:EFXT traded down $0.00 during mid-day trading on Thursday, reaching $10.21. 9,723 shares of the company traded hands, compared to its average volume of 407,408. The company's 50 day moving average price is $8.67 and its 200-day moving average price is $7.81. The firm has a market cap of $1.25 billion, a PE ratio of 9.84 and a beta of 2.01. 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 Ltd. has a 52 week low of $5.29 and a 52 week high of $10.61.

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

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.0375 per share. This is a boost from Enerflex's previous quarterly dividend of $0.03. The ex-dividend date was Monday, August 18th. This represents a $0.15 dividend on an annualized basis and a dividend yield of 1.5%. Enerflex's dividend payout ratio is presently 10.58%.

Enerflex 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.