Public Sector Pension Investment Board Buys 37,522 Shares of Enerpac Tool Group Corp. $EPAC

Key Points

• The Public Sector Pension Investment Board increased its holdings in Enerpac Tool Group Corp. by 27.8% during the first quarter, now owning 172,533 shares valued at $7.74 million.
• Analysts at Wall Street Zen have downgraded Enerpac Tool Group from a "strong-buy" to a "buy" rating, reflecting potential changes in market sentiment.
• The company has declared a quarterly dividend of $0.04 per share, representing an annualized yield of 0.4%, to be paid on October 17th.

Public Sector Pension Investment Board increased its holdings in Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 27.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,533 shares of the company's stock after acquiring an additional 37,522 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Enerpac Tool Group worth $7,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of EPAC. Nuveen LLC purchased a new position in Enerpac Tool Group in the first quarter worth $12,804,000. Entropy Technologies LP bought a new stake in shares of Enerpac Tool Group during the 1st quarter worth $389,000. Invesco Ltd. raised its stake in shares of Enerpac Tool Group by 11.7% during the 1st quarter. Invesco Ltd. now owns 642,136 shares of the company's stock worth $28,806,000 after purchasing an additional 67,242 shares during the period. Benjamin Edwards Inc. purchased a new position in shares of Enerpac Tool Group in the 1st quarter worth about $203,000. Finally, Townsquare Capital LLC grew its position in Enerpac Tool Group by 13.1% during the first quarter. Townsquare Capital LLC now owns 132,041 shares of the company's stock valued at $5,923,000 after buying an additional 15,308 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director E James Ferland, Jr. sold 4,224 shares of Enerpac Tool Group stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $40.99, for a total value of $173,141.76. Following the completion of the transaction, the director directly owned 94,136 shares in the company, valued at approximately $3,858,634.64. The trade was a 4.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company's stock.

Enerpac Tool Group Stock Performance

Shares of NYSE EPAC traded up $0.34 during trading on Tuesday, reaching $42.75. 82,023 shares of the stock traded hands, compared to its average volume of 352,665. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.90 and a quick ratio of 2.24. The stock has a market capitalization of $2.31 billion, a P/E ratio of 26.21 and a beta of 1.16. Enerpac Tool Group Corp. has a 52-week low of $36.51 and a 52-week high of $51.91. The company has a 50-day moving average of $39.97 and a 200-day moving average of $42.11.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last announced its quarterly earnings data on Monday, June 23rd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.04. The company had revenue of $158.66 million during the quarter, compared to analyst estimates of $159.35 million. Enerpac Tool Group had a return on equity of 24.04% and a net margin of 14.65%.During the same quarter last year, the firm posted $0.47 EPS. Analysts forecast that Enerpac Tool Group Corp. will post 1.78 EPS for the current fiscal year.

Enerpac Tool Group Dividend Announcement

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

Analyst Upgrades and Downgrades

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 investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price 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.