Synovus Financial Corp Buys 2,892 Shares of Enpro Inc. $NPO

Key Points

• Synovus Financial Corp increased its stake in Enpro Inc. by 39.1% in Q1 2023, bringing its total shares owned to 10,291, valued at approximately $1.67 million.
• EVP Robert Savage Mclean sold 2,541 shares of Enpro on August 20, 2023, reducing his stake by 8.03% and still holding shares valued at around $6.5 million.
• Analysts have shown positive sentiment towards Enpro, with upgrades in price targets, including an increase by Oppenheimer to $240.00 and a consensus rating of "Buy".

Synovus Financial Corp increased its holdings in shares of Enpro Inc. (NYSE:NPO - Free Report) by 39.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,291 shares of the industrial products company's stock after acquiring an additional 2,892 shares during the quarter. Synovus Financial Corp's holdings in Enpro were worth $1,665,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NPO. Marshall Wace LLP bought a new stake in Enpro in the 4th quarter valued at $862,000. First Trust Advisors LP bought a new stake in Enpro in the 4th quarter valued at $757,000. MetLife Investment Management LLC boosted its stake in Enpro by 4.6% in the 4th quarter. MetLife Investment Management LLC now owns 12,673 shares of the industrial products company's stock valued at $2,185,000 after purchasing an additional 553 shares during the period. Hsbc Holdings PLC boosted its stake in Enpro by 125.7% in the 4th quarter. Hsbc Holdings PLC now owns 7,589 shares of the industrial products company's stock valued at $1,312,000 after purchasing an additional 4,227 shares during the period. Finally, Northern Trust Corp boosted its stake in Enpro by 20.8% in the 4th quarter. Northern Trust Corp now owns 268,542 shares of the industrial products company's stock valued at $46,310,000 after purchasing an additional 46,191 shares during the period. 98.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NPO has been the subject of several recent research reports. KeyCorp boosted their price target on Enpro from $220.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Enpro from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Finally, Oppenheimer upped their target price on Enpro from $215.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, Enpro currently has a consensus rating of "Buy" and an average price target of $240.00.

Enpro Price Performance

Shares of NPO stock traded down $7.75 on Friday, hitting $218.59. 104,184 shares of the company's stock were exchanged, compared to its average volume of 135,934. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.49 and a quick ratio of 1.65. Enpro Inc. has a 12 month low of $133.50 and a 12 month high of $231.94. The stock has a market cap of $4.60 billion, a P/E ratio of 54.65, a price-to-earnings-growth ratio of 2.26 and a beta of 1.62. The company has a 50 day moving average of $210.49 and a 200 day moving average of $185.93.

Enpro (NYSE:NPO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.08 by ($0.05). Enpro had a return on equity of 10.49% and a net margin of 7.83%.The business had revenue of $288.10 million for the quarter, compared to the consensus estimate of $283.83 million. During the same quarter in the prior year, the company earned $2.08 earnings per share. Enpro's quarterly revenue was up 6.0% compared to the same quarter last year. Enpro has set its FY 2025 guidance at 7.600-8.10 EPS. On average, equities research analysts predict that Enpro Inc. will post 7.38 EPS for the current year.

Enpro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.24 annualized dividend and a dividend yield of 0.6%. Enpro's dividend payout ratio is presently 31.00%.

Insider Buying and Selling at Enpro

In other news, EVP Robert Savage Mclean sold 2,541 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $223.77, for a total value of $568,599.57. Following the completion of the sale, the executive vice president owned 29,116 shares of the company's stock, valued at approximately $6,515,287.32. This represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

About Enpro

Enpro Inc design, develops, manufactures, and markets proprietary, value-added products and solutions to safeguard critical environments in the United States, Europe, and internationally. It operates through two segments, Sealing Technologies and Advanced Surface Technologies. The Sealing Technologies segment offers single-use hygienic seals, tubing, components and assemblies; metallic, non-metallic, and composite material gaskets; dynamic seals; compression packing; hydraulic components; expansion joints; and wall penetration products for chemical and petrochemical processing, pulp and paper processing, nuclear energy, hydrogen, natural gas, food and biopharmaceutical processing, primary metal manufacturing, mining, water and waste treatment, commercial vehicle, aerospace, medical, filtration, and semiconductor fabrication industries.