105,556 Enerpac Tool Group Corp. $EPAC Shares Sold by CenterBook Partners LP

Key Points

• CenterBook Partners cut its Enerpac Tool Group stake by 62.4% in the third quarter, selling 105,556 shares and ending the period with 63,619 shares valued at about $2.22 million.
• Enerpac reported quarterly EPS of $0.53, slightly above estimates, while revenue of $185.73 million topped expectations and rose 10.9% year over year.
• Institutional investors and hedge funds own 97.7% of the stock. Analysts’ consensus rating is Hold, with a $50 average price target.

CenterBook Partners LP cut its holdings in shares of Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 62.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,619 shares of the company's stock after selling 105,556 shares during the period. CenterBook Partners LP owned 0.12% of Enerpac Tool Group worth $2,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of EPAC. Cooke & Bieler LP raised its position in Enerpac Tool Group by 1.6% in the 3rd quarter. Cooke & Bieler LP now owns 1,305,296 shares of the company's stock valued at $45,542,000 after purchasing an additional 20,752 shares during the last quarter. Jennison Associates LLC grew its position in Enerpac Tool Group by 2.5% during the 1st quarter. Jennison Associates LLC now owns 679,974 shares of the company's stock worth $24,799,000 after purchasing an additional 16,905 shares during the last quarter. Southernsun Asset Management LLC grew its position in Enerpac Tool Group by 10.7% during the 1st quarter. Southernsun Asset Management LLC now owns 664,874 shares of the company's stock worth $24,248,000 after purchasing an additional 64,192 shares during the last quarter. Principal Financial Group Inc. grew its position in Enerpac Tool Group by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 258,133 shares of the company's stock worth $9,414,000 after purchasing an additional 4,761 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in Enerpac Tool Group by 21.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 188,150 shares of the company's stock worth $6,862,000 after purchasing an additional 32,850 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Enerpac Tool Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, October 13th. Zacks Research upgraded shares of Enerpac Tool Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $50.00.

Enerpac Tool Group Stock Performance

NYSE:EPAC opened at $38.83 on Monday. The firm has a market cap of $1.99 billion, a P/E ratio of 22.58 and a beta of 0.81. The company has a current ratio of 2.73, a quick ratio of 2.26 and a debt-to-equity ratio of 0.38. The stock's 50 day simple moving average is $36.38 and its 200-day simple moving average is $36.67. Enerpac Tool Group Corp. has a 12-month low of $32.35 and a 12-month high of $43.97.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. Enerpac Tool Group had a return on equity of 22.74% and a net margin of 13.74%. The business had revenue of $185.73 million during the quarter, compared to analysts' expectations of $172.68 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. The company's quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that Enerpac Tool Group Corp. will post 2.05 EPS for the current year.

Insider Transactions at Enerpac Tool Group

In other Enerpac Tool Group news, EVP Benjamin James Topercer sold 4,800 shares of the business's stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $41.30, for a total value of $198,240.00. Following the transaction, the executive vice president directly owned 58,507 shares of the company's stock, valued at approximately $2,416,339.10. The trade was a 7.58% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.50% of the company's stock.

About Enerpac Tool Group

Enerpac Tool Group Corp. is an industrial tools and services company that provides engineered solutions for lifting, moving, positioning, maintenance and assembly applications. Its products are used in industries such as energy, infrastructure, construction, manufacturing, mining and heavy equipment.

The company offers high-pressure hydraulic tools and systems, including hydraulic pumps, cylinders, jacks, tensioners, torque tools and specialized lifting and positioning equipment. It also provides bolting, machining, flange-management and other field services designed to support the installation, maintenance and repair of large-scale industrial assets.

Enerpac Tool Group markets products under brands that include Enerpac, Hydratight, Equalizer, Mirage, Simplex and Larzep.

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