Enersys (ENS) Shares Bought by Connable Office Inc.
Connable Office Inc. raised its position in Enersys (NYSE:ENS) by 14.5% during the second quarter, Holdings Channel reports. The fund owned 6,021 shares of the industrial products company’s stock after buying an additional 761 shares during the period. Connable Office Inc.’s holdings in Enersys were worth $436,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board boosted its position in Enersys by 36.4% in the second quarter. Canada Pension Plan Investment Board now owns 89,500 shares of the industrial products company’s stock worth $6,484,000 after buying an additional 23,900 shares during the last quarter. Trexquant Investment LP acquired a new position in Enersys during the second quarter worth about $594,000. Global X Management Co. LLC boosted its position in Enersys by 35.7% in the second quarter. Global X Management Co. LLC now owns 128,044 shares of the industrial products company’s stock worth $9,277,000 after buying an additional 33,680 shares during the last quarter. Retirement Systems of Alabama boosted its position in Enersys by 4.0% in the second quarter. Retirement Systems of Alabama now owns 95,127 shares of the industrial products company’s stock worth $6,892,000 after buying an additional 3,654 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Enersys by 18.6% in the second quarter. Sei Investments Co. now owns 96,328 shares of the industrial products company’s stock worth $6,979,000 after buying an additional 15,138 shares during the last quarter. Hedge funds and other institutional investors own 95.86% of the company’s stock.
Enersys (ENS) opened at 64.99 on Friday. Enersys has a 12 month low of $63.10 and a 12 month high of $84.74. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 17.85 and a beta of 1.65. The stock’s 50 day moving average price is $72.28 and its 200-day moving average price is $77.09.
Enersys (NYSE:ENS) last released its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Enersys had a net margin of 6.86% and a return on equity of 19.27%. The firm had revenue of $622.60 million for the quarter, compared to the consensus estimate of $615.77 million. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities analysts anticipate that Enersys will post $4.83 EPS for the current fiscal year.
Enersys announced that its board has authorized a stock buyback plan on Wednesday, August 9th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 3.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.70 annualized dividend and a dividend yield of 1.08%. Enersys’s dividend payout ratio is presently 18.87%.
A number of equities analysts have issued reports on the company. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Enersys in a report on Wednesday. BidaskClub upgraded Enersys from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Enersys from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, ValuEngine upgraded Enersys from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Enersys currently has a consensus rating of “Hold” and an average target price of $84.33.
In related news, insider Holger P. Aschke sold 3,000 shares of Enersys stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $81.00, for a total transaction of $243,000.00. Following the sale, the insider now directly owns 28,928 shares in the company, valued at $2,343,168. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kerry M. Kane sold 4,413 shares of Enersys stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $82.16, for a total value of $362,572.08. Following the sale, the vice president now owns 17,210 shares in the company, valued at $1,413,973.60. The disclosure for this sale can be found here. Insiders have sold 7,676 shares of company stock worth $627,462 over the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
Enersys Company Profile
EnerSys is a manufacturer, marketer and distributor of industrial batteries. The Company manufactures, markets and distributes related products, such as chargers, power equipment, outdoor cabinet enclosures and battery accessories, and provides related after-market and customer-support services for industrial batteries.
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