Earnest Partners LLC Decreases Stake in Enersys $ENS

Key Points

• Earnest Partners LLC reduced its stake in Enersys by 2.4%, now owning 1,096,151 shares valued at approximately $100.4 million.
• Enersys announced a quarterly dividend increase to $0.2625 per share, with a dividend yield of 1.0%.
• Analysts have a consensus rating of "Buy" for Enersys, with an average price target of $118.33.

Earnest Partners LLC lowered its stake in Enersys (NYSE:ENS - Free Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,096,151 shares of the industrial products company's stock after selling 26,692 shares during the period. Earnest Partners LLC owned 2.78% of Enersys worth $100,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. raised its holdings in shares of Enersys by 23.1% in the first quarter. QRG Capital Management Inc. now owns 7,046 shares of the industrial products company's stock worth $645,000 after buying an additional 1,323 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Enersys by 74.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 68,542 shares of the industrial products company's stock worth $6,339,000 after purchasing an additional 29,268 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Enersys by 11.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,760 shares of the industrial products company's stock worth $1,077,000 after purchasing an additional 1,165 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Enersys by 284.6% during the first quarter. GAMMA Investing LLC now owns 1,346 shares of the industrial products company's stock worth $123,000 after purchasing an additional 996 shares during the last quarter. Finally, CX Institutional purchased a new position in shares of Enersys during the first quarter worth $69,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

Analysts Set New Price Targets

ENS has been the subject of several recent research reports. Wall Street Zen cut shares of Enersys from a "strong-buy" rating to a "hold" rating in a report on Saturday, August 9th. Roth Capital reissued a "buy" rating and set a $120.00 target price on shares of Enersys in a report on Tuesday, August 5th. Oppenheimer reissued an "outperform" rating on shares of Enersys in a report on Friday, August 8th. Finally, Roth Mkm reissued a "buy" rating and set a $120.00 target price on shares of Enersys in a report on Wednesday, May 14th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Enersys currently has an average rating of "Buy" and a consensus price target of $118.33.

Enersys Stock Up 0.6%

ENS stock opened at $102.05 on Wednesday. The firm has a market cap of $3.82 billion, a PE ratio of 11.65, a P/E/G ratio of 0.58 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.91 and a current ratio of 3.00. The firm's fifty day moving average is $91.56 and its 200 day moving average is $91.61. Enersys has a one year low of $76.57 and a one year high of $104.36.

Enersys (NYSE:ENS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.08 EPS for the quarter, beating the consensus estimate of $2.05 by $0.03. The company had revenue of $893.00 million for the quarter, compared to analyst estimates of $848.02 million. Enersys had a net margin of 9.60% and a return on equity of 21.99%. The firm's revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business earned $1.98 earnings per share. On average, research analysts forecast that Enersys will post 9.99 EPS for the current year.

Enersys Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.2625 per share. This is an increase from Enersys's previous quarterly dividend of $0.24. This represents a $1.05 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 12th. Enersys's dividend payout ratio is presently 11.99%.

Insider Activity at Enersys

In related news, CEO Shawn M. O'connell bought 475 shares of the business's stock in a transaction dated Friday, May 30th. The stock was acquired at an average price of $83.76 per share, with a total value of $39,786.00. Following the completion of the purchase, the chief executive officer directly owned 43,030 shares of the company's stock, valued at approximately $3,604,192.80. This trade represents a 1.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.91% of the stock is owned by corporate insiders.

Enersys Company Profile

EnerSys engages in the provision of stored energy solutions for industrial applications worldwide. It operates in four segments: Energy Systems, Motive Power, Specialty, and New Ventures. The Energy Systems segment offers uninterruptible power systems (UPS) applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, data center, and renewable and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.