Canal Insurance CO Reduces Stock Position in Enersys $ENS

Key Points

• Canal Insurance Co. cut its Enersys position by 74.6% in Q4, selling 29,321 shares and keeping 10,000 shares worth $1.468 million at quarter-end.
• Enersys beat EPS estimates ($2.77 vs. $2.73) while revenue of $919.1 million was slightly below consensus; the stock has an $8.22 billion market cap and an average analyst target of $180.25 with a consensus Moderate Buy rating.
• Institutional investors own roughly 94.93% of Enersys, with recent activity including new or increased stakes from firms such as UBS Asset Management and Arrowstreet Capital.

Canal Insurance CO lessened its position in shares of Enersys (NYSE:ENS - Free Report) by 74.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,000 shares of the industrial products company's stock after selling 29,321 shares during the quarter. Canal Insurance CO's holdings in Enersys were worth $1,468,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ENS. United Services Automobile Association purchased a new stake in Enersys during the 1st quarter valued at about $240,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Enersys by 9.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 113,770 shares of the industrial products company's stock valued at $10,419,000 after purchasing an additional 9,737 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Enersys in the second quarter worth about $4,623,000. EverSource Wealth Advisors LLC boosted its stake in shares of Enersys by 626.3% in the second quarter. EverSource Wealth Advisors LLC now owns 552 shares of the industrial products company's stock worth $47,000 after buying an additional 476 shares during the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Enersys in the second quarter worth about $460,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

Enersys Stock Performance

Shares of ENS stock opened at $223.20 on Friday. The company has a market capitalization of $8.22 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.24 and a beta of 1.17. The business's 50 day moving average is $182.29 and its two-hundred day moving average is $162.74. The company has a current ratio of 2.75, a quick ratio of 1.72 and a debt-to-equity ratio of 0.61. Enersys has a 12-month low of $76.60 and a 12-month high of $226.78.

Enersys (NYSE:ENS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The industrial products company reported $2.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.04. The company had revenue of $919.10 million for the quarter, compared to the consensus estimate of $932.13 million. Enersys had a return on equity of 21.27% and a net margin of 8.37%.Enersys's revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.12 earnings per share. Analysts expect that Enersys will post 10.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. BTIG Research upped their target price on Enersys from $175.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. TD Cowen assumed coverage on Enersys in a research note on Thursday, March 19th. They issued a "buy" rating and a $190.00 target price on the stock. Roth Mkm restated a "buy" rating and issued a $208.00 target price (up from $164.00) on shares of Enersys in a research note on Tuesday, February 3rd. Wall Street Zen downgraded Enersys from a "strong-buy" rating to a "buy" rating in a research note on Saturday, January 31st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Enersys in a research note on Friday, April 24th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Enersys presently has a consensus rating of "Moderate Buy" and an average target price of $180.25.

About Enersys

Enersys, headquartered in Reading, Pennsylvania, is a global leader in stored energy solutions, specializing in manufacturing and distributing industrial batteries, battery chargers, power equipment, and related accessories. The company serves a diverse range of end markets, including telecommunications, data centers, medical, aerospace, defense, electric vehicle motive power, and utility outcomes. Its products are engineered to deliver critical reserve power and motive power applications across key infrastructure and industrial sectors.

The company's product portfolio encompasses lead-acid batteries, lithium-ion energy storage systems, chargers, inverters, power management software, and a broad array of battery accessories.

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