Connor Clark & Lunn Investment Management Ltd. Makes New $43.94 Million Investment in Enerflex Ltd. (NYSE:EFXT)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Enerflex Ltd. (NYSE:EFXT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,418,980 shares of the company’s stock, valued at approximately $43,935,000. Connor Clark & Lunn Investment Management Ltd. owned about 3.56% of Enerflex at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in shares of Enerflex by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 184,952 shares of the company’s stock valued at $1,103,000 after buying an additional 5,864 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Enerflex by 11.2% during the third quarter. Geode Capital Management LLC now owns 61,057 shares of the company’s stock valued at $364,000 after buying an additional 6,158 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Enerflex during the third quarter valued at approximately $65,000. West Tower Group LLC bought a new position in shares of Enerflex during the third quarter valued at approximately $119,000. Finally, Bank of Montreal Can grew its stake in shares of Enerflex by 5.0% during the third quarter. Bank of Montreal Can now owns 488,275 shares of the company’s stock valued at $2,895,000 after buying an additional 23,362 shares during the last quarter. Institutional investors own 46.47% of the company’s stock.

Enerflex Stock Up 1.9 %

Shares of NYSE EFXT opened at $7.35 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.88 and a current ratio of 1.19. The firm has a market capitalization of $911.95 million, a price-to-earnings ratio of -11.66 and a beta of 2.12. The stock has a 50 day moving average price of $9.28 and a 200 day moving average price of $8.06. Enerflex Ltd. has a 52-week low of $4.59 and a 52-week high of $10.61.

Enerflex Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.026 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.42%. Enerflex’s payout ratio is 40.00%.

Analyst Ratings Changes

Separately, Royal Bank of Canada upped their target price on Enerflex from $9.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, November 15th.

About Enerflex

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.