Comerica Bank Has $2.11 Million Stake in Enersys $ENS

Key Points

• Comerica Bank reduced its stake in Enersys by 24.5% in the first quarter, now owning 23,005 shares valued at approximately $2.1 million.
• Enersys recently announced a quarterly dividend increase to $0.2625, representing an annualized dividend of $1.05 and a yield of 1.0%.
• The company reported $893 million in revenue for the last quarter, exceeding analysts' expectations, and expects to post an average earnings per share of 9.99 for the current year.

Comerica Bank decreased its holdings in shares of Enersys (NYSE:ENS - Free Report) by 24.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,005 shares of the industrial products company's stock after selling 7,469 shares during the quarter. Comerica Bank owned approximately 0.06% of Enersys worth $2,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ENS. Raymond James Financial Inc. bought a new position in shares of Enersys during the 4th quarter valued at $561,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Enersys by 7.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,021 shares of the industrial products company's stock valued at $5,179,000 after purchasing an additional 3,948 shares in the last quarter. Quarry LP raised its holdings in shares of Enersys by 153.4% during the 4th quarter. Quarry LP now owns 337 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 204 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Enersys by 6.2% during the 4th quarter. Northern Trust Corp now owns 607,105 shares of the industrial products company's stock valued at $56,115,000 after purchasing an additional 35,667 shares in the last quarter. Finally, AXA S.A. bought a new position in shares of Enersys during the 4th quarter valued at $214,000. Institutional investors own 94.93% of the company's stock.

Enersys Stock Performance

NYSE:ENS traded up $0.62 during midday trading on Friday, reaching $103.68. The stock had a trading volume of 247,061 shares, compared to its average volume of 320,193. Enersys has a 1-year low of $76.57 and a 1-year high of $104.68. The firm's fifty day simple moving average is $94.43 and its 200-day simple moving average is $91.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.00 and a quick ratio of 1.91. The stock has a market capitalization of $3.89 billion, a P/E ratio of 11.84, a PEG ratio of 0.59 and a beta of 1.09.

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

Enersys Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.2625 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.05 annualized dividend and a yield of 1.0%. This is a positive change from Enersys's previous quarterly dividend of $0.24. Enersys's dividend payout ratio (DPR) is 10.96%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Roth Mkm restated a "buy" rating and set a $120.00 price target on shares of Enersys in a report on Wednesday, May 14th. Oppenheimer restated an "outperform" rating on shares of Enersys in a report on Friday, August 8th. Roth Capital restated a "buy" rating and set a $120.00 price target on shares of Enersys in a report on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Enersys from a "hold" rating to a "buy" rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $118.33.

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.