Invesco Ltd. Acquires 67,242 Shares of Enerpac Tool Group Corp. $EPAC

Key Points

• Invesco Ltd. increased its holdings in Enerpac Tool Group Corp. by 11.7%, owning 642,136 shares valued at approximately $28.81 million, highlighting institutional interest in the company.
• Enerpac Tool Group recently declared a quarterly dividend of $0.04 per share, with a payment date set for October 17, and an annualized dividend yield of 0.4%.
• Analysts have adjusted their ratings, with one lowering the stock from a "strong-buy" to a "buy," while the average price target for Enerpac is now set at $53.00.

Invesco Ltd. grew its position in Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 11.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 642,136 shares of the company's stock after purchasing an additional 67,242 shares during the quarter. Invesco Ltd. owned approximately 1.19% of Enerpac Tool Group worth $28,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. bought a new position in shares of Enerpac Tool Group in the first quarter worth approximately $203,000. Townsquare Capital LLC boosted its position in shares of Enerpac Tool Group by 13.1% in the first quarter. Townsquare Capital LLC now owns 132,041 shares of the company's stock worth $5,923,000 after purchasing an additional 15,308 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Enerpac Tool Group by 25.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,819 shares of the company's stock worth $306,000 after purchasing an additional 1,367 shares during the period. Commerce Bank boosted its position in shares of Enerpac Tool Group by 43.4% in the first quarter. Commerce Bank now owns 8,424 shares of the company's stock worth $378,000 after purchasing an additional 2,549 shares during the period. Finally, Natixis Advisors LLC boosted its position in shares of Enerpac Tool Group by 23.5% in the first quarter. Natixis Advisors LLC now owns 19,743 shares of the company's stock worth $886,000 after purchasing an additional 3,762 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Enerpac Tool Group news, Director E James Ferland, Jr. sold 4,224 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $40.99, for a total transaction of $173,141.76. Following the completion of the transaction, the director owned 94,136 shares in the company, valued at $3,858,634.64. This trade represents a 4.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by company insiders.

Enerpac Tool Group Price Performance

Shares of NYSE:EPAC traded up $1.7690 during midday trading on Friday, reaching $43.6790. 330,223 shares of the company were exchanged, compared to its average volume of 386,769. The company has a current ratio of 2.90, a quick ratio of 2.24 and a debt-to-equity ratio of 0.42. The business's fifty day moving average is $39.95 and its two-hundred day moving average is $42.06. Enerpac Tool Group Corp. has a one year low of $36.51 and a one year high of $51.91. The stock has a market cap of $2.36 billion, a PE ratio of 26.80 and a beta of 1.16.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last issued its earnings results on Monday, June 23rd. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.04. Enerpac Tool Group had a net margin of 14.65% and a return on equity of 24.04%. The firm had revenue of $158.66 million during the quarter, compared to analyst estimates of $159.35 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. As a group, analysts predict that Enerpac Tool Group Corp. will post 1.78 earnings per share for the current year.

Enerpac Tool Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Tuesday, October 7th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, October 7th. This represents a $0.16 annualized dividend and a yield of 0.4%. Enerpac Tool Group's dividend payout ratio (DPR) is 2.45%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Enerpac Tool Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $53.00.

About Enerpac Tool Group

Enerpac Tool Group Corp. manufactures and sells a range of industrial products and solutions in the United States, the United Kingdom, Germany, Australia, Canada, China, Saudi Arabia, Brazil, France, and internationally. It operates through Industrial Tools & Services and Other segments. The Industrial Tools & Services segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the infrastructure, industrial maintenance, repair and operations, oil and gas, mining, alternative and renewable energy, civil construction, and other markets.