Enerflex Ltd. $EFXT Stock: Ritholtz Wealth Management Trims Stake

Ritholtz Wealth Management decreased its holdings in Enerflex Ltd. (NYSE:EFXT) by 11.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 205,822 shares of the company’s stock after selling 26,877 shares during the quarter. Ritholtz Wealth Management’s holdings in Enerflex were worth $4,691,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in Enerflex during the 2nd quarter valued at about $330,515,000. Bank of America Corp DE boosted its holdings in shares of Enerflex by 51.4% during the 1st quarter. Bank of America Corp DE now owns 1,293,472 shares of the company’s stock valued at $27,059,000 after acquiring an additional 438,920 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Enerflex by 33.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,208,011 shares of the company’s stock worth $25,268,000 after acquiring an additional 303,398 shares during the period. Cibc World Market Inc. bought a new stake in shares of Enerflex in the second quarter worth approximately $15,851,000. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Enerflex by 74.7% in the second quarter. TD Waterhouse Canada Inc. now owns 558,010 shares of the company’s stock worth $13,170,000 after acquiring an additional 238,574 shares during the period. Hedge funds and other institutional investors own 46.47% of the company’s stock.

Enerflex Stock Up 0.6%

Enerflex stock opened at $20.32 on Friday. The stock has a market cap of $2.48 billion, a PE ratio of 16.17 and a beta of 1.79. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.23. Enerflex Ltd. has a one year low of $12.57 and a one year high of $29.15. The stock has a fifty day moving average of $23.07 and a 200 day moving average of $22.73.

Enerflex (NYSE:EFXT) last posted its earnings results on Thursday, October 29th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. The company had revenue of $623.00 million for the quarter, compared to the consensus estimate of $632.70 million. Enerflex had a return on equity of 13.15% and a net margin of 2.94%. As a group, sell-side analysts predict that Enerflex Ltd. will post 1.42 EPS for the current year.

Enerflex Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Thursday, November 12th will be given a dividend of C$0.04 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 12th. This is a decrease from Enerflex’s previous quarterly dividend of C$0.04. Enerflex’s payout ratio is currently 20.69%.

Analyst Upgrades and Downgrades

EFXT has been the subject of several research reports. Royal Bank Of Canada decreased their price objective on shares of Enerflex from $35.00 to $33.00 and set an “outperform” rating for the company in a report on Friday, October 30th. BMO Capital Markets restated an “outperform” rating on shares of Enerflex in a report on Friday, October 16th. Wall Street Zen upgraded shares of Enerflex from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Acumen Capital raised shares of Enerflex to a “strong-buy” rating in a research report on Friday, October 2nd. Finally, Weiss Ratings raised shares of Enerflex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Enerflex Profile

Enerflex Ltd. provides equipment, services and integrated solutions for natural gas infrastructure and energy projects. Its offerings include gas compression, processing and refrigeration systems, as well as power generation equipment. The company supports projects from engineering and equipment manufacturing through construction, installation and commissioning. It also provides aftermarket services, including operations, maintenance and parts support. Headquartered in Calgary, Alberta, Enerflex serves customers across North America, Latin America and international markets.