Enerpac Tool Group Corp. $EPAC Stake Decreased by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. reduced its stake in Enerpac Tool Group by 56% in the first quarter, selling 338,721 shares and leaving it with 266,481 shares worth about $9.7 million.
• Despite that sale, institutional ownership remains very high, with 97.7% of Enerpac Tool Group’s stock held by institutional investors. Several other funds increased their positions, including M&T Bank Corp. and Brown Advisory Inc.
• Enerpac recently reported better-than-expected quarterly results, earning $0.60 per share versus estimates of $0.49, while revenue rose 5.7% year over year. Analysts currently have a Hold consensus with a $50 price target, though views are mixed.

Bessemer Group Inc. cut its holdings in shares of Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 56.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,481 shares of the company's stock after selling 338,721 shares during the period. Bessemer Group Inc. owned approximately 0.52% of Enerpac Tool Group worth $9,718,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cooke & Bieler LP raised its stake in Enerpac Tool Group by 2.1% during the 4th quarter. Cooke & Bieler LP now owns 1,577,871 shares of the company's stock valued at $60,338,000 after acquiring an additional 31,868 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Enerpac Tool Group by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,383,056 shares of the company's stock worth $56,703,000 after purchasing an additional 4,480 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Enerpac Tool Group by 2,163.1% during the fourth quarter. M&T Bank Corp now owns 1,124,267 shares of the company's stock valued at $42,992,000 after purchasing an additional 1,074,588 shares during the period. Brown Advisory Inc. raised its stake in shares of Enerpac Tool Group by 92.7% during the fourth quarter. Brown Advisory Inc. now owns 864,054 shares of the company's stock valued at $33,041,000 after purchasing an additional 415,723 shares in the last quarter. Finally, GW&K Investment Management LLC raised its stake in shares of Enerpac Tool Group by 34.4% during the fourth quarter. GW&K Investment Management LLC now owns 785,268 shares of the company's stock valued at $30,028,000 after purchasing an additional 201,175 shares in the last quarter. 97.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EPAC shares. Wall Street Zen upgraded shares of Enerpac Tool Group from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. Roth Capital reaffirmed a "buy" rating and issued a $50.00 price target on shares of Enerpac Tool Group in a research note on Thursday, July 9th. Weiss Ratings cut shares of Enerpac Tool Group from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 19th. Finally, Zacks Research lowered shares of Enerpac Tool Group from a "hold" rating to a "strong sell" rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $50.00.

Enerpac Tool Group Price Performance

NYSE:EPAC opened at $34.63 on Monday. The business's 50-day moving average price is $34.75 and its 200 day moving average price is $37.19. The firm has a market cap of $1.77 billion, a P/E ratio of 19.57 and a beta of 0.85. Enerpac Tool Group Corp. has a 52-week low of $32.35 and a 52-week high of $45.00. The company has a quick ratio of 2.04, a current ratio of 2.67 and a debt-to-equity ratio of 0.41.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 7th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.49 by $0.11. Enerpac Tool Group had a net margin of 14.72% and a return on equity of 23.21%. The firm had revenue of $167.55 million for the quarter, compared to analysts' expectations of $165.60 million. Enerpac Tool Group's revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Enerpac Tool Group Corp. will post 1.87 earnings per share for the current fiscal year.

Enerpac Tool Group Company Profile

Enerpac Tool Group Corp. NYSE: EPAC is a global provider of high-pressure hydraulic tools, controlled force products and precision positioning equipment. The company's products and solutions enable customers in manufacturing, energy, infrastructure, transportation and construction to lift, move, position and secure heavy loads with safety and accuracy. Enerpac's core portfolio includes hydraulic pumps, cylinders, torque wrenches, torque multipliers, flange spreaders, tensioners and portable bolting tools, complemented by electric and pneumatic tools for a wide range of industrial applications.

In addition to its extensive product lines, Enerpac offers integrated systems and services such as engineered lifting solutions, custom skidding and spreader beam assemblies, mobile bolting units and digital monitoring platforms.

Want to see what other hedge funds are holding EPAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enerpac Tool Group Corp. (NYSE:EPAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.