State Treasurer State of Michigan lowered its stake in EnerSys (NYSE:ENS) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,100 shares of the industrial products company’s stock after selling 1,200 shares during the quarter. State Treasurer State of Michigan’s holdings in EnerSys were worth $1,051,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ENS. Advisor Group Inc. lifted its position in EnerSys by 1.2% in the second quarter. Advisor Group Inc. now owns 1,483 shares of the industrial products company’s stock valued at $107,000 after buying an additional 18 shares during the last quarter. Zions Bancorporation acquired a new position in EnerSys in the third quarter valued at about $130,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in EnerSys by 45.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,468 shares of the industrial products company’s stock valued at $172,000 after buying an additional 769 shares during the last quarter. Victory Capital Management Inc. acquired a new position in EnerSys in the third quarter valued at about $188,000. Finally, Brown Advisory Inc. acquired a new position in EnerSys in the third quarter valued at about $208,000. 97.17% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the stock. Sidoti cut shares of EnerSys from a “buy” rating to a “neutral” rating and set a $79.00 target price on the stock. in a research report on Tuesday, January 23rd. CL King raised shares of EnerSys from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. ValuEngine cut shares of EnerSys from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. TheStreet cut shares of EnerSys from a “b” rating to a “c+” rating in a research report on Friday, February 9th. Finally, Zacks Investment Research cut shares of EnerSys from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. EnerSys currently has a consensus rating of “Hold” and an average price target of $78.00.
EnerSys (NYSE:ENS) last issued its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.11. The business had revenue of $658.90 million for the quarter, compared to analysts’ expectations of $634.75 million. EnerSys had a net margin of 3.94% and a return on equity of 18.02%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 earnings per share. research analysts expect that EnerSys will post 4.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.70 annualized dividend and a dividend yield of 0.96%. EnerSys’s dividend payout ratio is presently 31.25%.
EnerSys announced that its Board of Directors has initiated a stock buyback program on Wednesday, November 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries.
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