Enerflex Ltd. (NYSE:EFXT) Shares Sold by Letko Brosseau & Associates Inc.

Key Points

• Letko Brosseau & Associates Inc. reduced its stake in Enerflex Ltd. by 21.3%, selling 1,365,575 shares during the first quarter and now owns about 4.07% of the company.
• Several analysts have downgraded Enerflex's stock, with CIBC reducing their price target from $10.00 to $9.25, while Royal Bank Of Canada lowered it from $14.00 to $12.00.
• Enerflex has declared a dividend of $0.0375 with a yield of 1.51%, paid to shareholders of record on May 22nd.

Letko Brosseau & Associates Inc. lowered its holdings in Enerflex Ltd. (NYSE:EFXT - Free Report) by 21.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,049,686 shares of the company's stock after selling 1,365,575 shares during the quarter. Letko Brosseau & Associates Inc. owned 4.07% of Enerflex worth $39,015,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in shares of Enerflex by 28.0% in the fourth quarter. JPMorgan Chase & Co. now owns 99,550 shares of the company's stock valued at $991,000 after buying an additional 21,801 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Enerflex by 54.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 25,102 shares of the company's stock valued at $250,000 after buying an additional 8,870 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Enerflex in the fourth quarter valued at $5,871,000. National Bank of Canada FI purchased a new position in shares of Enerflex in the fourth quarter valued at $4,495,000. Finally, Geode Capital Management LLC increased its position in shares of Enerflex by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 63,885 shares of the company's stock valued at $642,000 after buying an additional 2,828 shares in the last quarter. Institutional investors and hedge funds own 46.47% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada dropped their price target on Enerflex from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Wall Street Zen cut Enerflex from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, CIBC dropped their price objective on Enerflex from $10.00 to $9.25 and set a "neutral" rating for the company in a research report on Friday, May 9th.

Enerflex Price Performance

Enerflex stock traded down $0.21 during midday trading on Friday, reaching $7.78. 328,326 shares of the company were exchanged, compared to its average volume of 252,890. The company has a market capitalization of $953.06 million, a price-to-earnings ratio of 17.70 and a beta of 2.00. The firm's 50-day simple moving average is $7.81 and its 200-day simple moving average is $7.83. Enerflex Ltd. has a 1 year low of $4.73 and a 1 year high of $10.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.83 and a current ratio of 1.12.

Enerflex (NYSE:EFXT - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.12 by $0.07. The company had revenue of $552.00 million during the quarter, compared to analysts' expectations of $583.59 million. Enerflex had a return on equity of 5.23% and a net margin of 3.18%. On average, analysts anticipate that Enerflex Ltd. will post 0.25 EPS for the current year.

Enerflex Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Thursday, May 22nd were issued a $0.0375 dividend. The ex-dividend date was Wednesday, May 21st. This represents a yield of 151.0%. Enerflex's payout ratio is 18.64%.

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.