Bank of America Corp DE Takes Position in Enersys $ENS

Key Points

• Bank of America acquired 362,239 shares of EnerSys during the second quarter, valued at approximately $84.7 million and representing about 0.99% of the company. Institutional investors collectively own 94.93% of EnerSys.
• Analysts remain broadly positive, with EnerSys carrying a consensus “Buy” rating and a $265 price target. The company recently exceeded quarterly earnings expectations, reporting $3.66 in EPS and $935.6 million in revenue, up 4.8% year over year.
• EnerSys increased its quarterly dividend from $0.26 to $0.2875 per share, equivalent to an annualized dividend of $1.15 and a 0.6% yield.

Bank of America Corp DE bought a new position in Enersys (NYSE:ENS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 362,239 shares of the industrial products company's stock, valued at approximately $84,699,000. Bank of America Corp DE owned approximately 0.99% of Enersys at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ENS. Principal Financial Group Inc. lifted its position in shares of Enersys by 10.1% in the 1st quarter. Principal Financial Group Inc. now owns 551,045 shares of the industrial products company's stock worth $95,728,000 after purchasing an additional 50,660 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Enersys in the 1st quarter valued at approximately $10,319,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Enersys during the second quarter valued at $7,305,000. Maverick Capital Ltd. acquired a new position in shares of Enersys in the first quarter valued at about $1,485,000. Finally, Sei Investments Co. lifted its stake in Enersys by 17.7% during the 1st quarter. Sei Investments Co. now owns 85,488 shares of the industrial products company's stock valued at $14,850,000 after acquiring an additional 12,854 shares during the period. 94.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Oppenheimer reaffirmed an "outperform" rating on shares of Enersys in a research note on Friday, August 14th. Roth Capital reaffirmed a "buy" rating and set a $265.00 target price on shares of Enersys in a research note on Friday, May 22nd. Weiss Ratings lowered shares of Enersys from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. Zacks Research upgraded shares of Enersys from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 18th. Finally, BTIG Research reissued a "buy" rating and issued a $280.00 price target on shares of Enersys in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, Enersys currently has a consensus rating of "Buy" and a consensus price target of $265.00.

Enersys Stock Performance

Shares of ENS opened at $177.56 on Friday. Enersys has a 12 month low of $108.18 and a 12 month high of $244.30. The company's fifty day moving average is $188.34 and its 200-day moving average is $198.57. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a quick ratio of 1.83, a current ratio of 2.80 and a debt-to-equity ratio of 0.51.

Enersys (NYSE:ENS - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The industrial products company reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.83. Enersys had a return on equity of 24.02% and a net margin of 9.29%.The company had revenue of $935.64 million during the quarter, compared to the consensus estimate of $928.01 million. During the same quarter in the prior year, the company posted $2.08 EPS. The firm's revenue was up 4.8% on a year-over-year basis. Enersys has set its Q2 2027 guidance at 1.950-2.050 EPS. Equities analysts expect that Enersys will post 13.41 EPS for the current fiscal year.

Enersys Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Friday, September 18th will be given a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 0.6%. This is an increase from Enersys's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, September 18th. Enersys's dividend payout ratio (DPR) is 11.24%.

Enersys Profile

EnerSys NYSE: ENS is a global provider of stored energy solutions. The company designs, manufactures and distributes industrial batteries, battery chargers, power conversion equipment and energy management systems for applications that require reliable backup, motive and portable power.

Its products serve a range of markets, including telecommunications, data centers, utilities, industrial facilities, transportation, material handling, aerospace and defense. EnerSys offers lead-acid and lithium-ion battery technologies, as well as related chargers, enclosures, monitoring systems and service programs.

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