Wedge Capital Management L L P NC Has $43.67 Million Position in Enersys (NYSE:ENS)
Wedge Capital Management L L P NC increased its position in shares of Enersys (NYSE:ENS) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 602,761 shares of the industrial products company’s stock after buying an additional 2,912 shares during the period. Wedge Capital Management L L P NC’s holdings in Enersys were worth $43,670,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of Enersys during the first quarter worth about $5,178,000. Wells Fargo & Company MN increased its position in shares of Enersys by 28.9% in the first quarter. Wells Fargo & Company MN now owns 533,158 shares of the industrial products company’s stock worth $42,087,000 after buying an additional 119,632 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Enersys by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,200 shares of the industrial products company’s stock worth $1,200,000 after buying an additional 200 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp increased its position in shares of Enersys by 81.3% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 50,173 shares of the industrial products company’s stock worth $3,961,000 after buying an additional 22,500 shares in the last quarter. Finally, First Midwest Bank Trust Division increased its position in shares of Enersys by 3.3% in the first quarter. First Midwest Bank Trust Division now owns 6,770 shares of the industrial products company’s stock worth $534,000 after buying an additional 216 shares in the last quarter. Institutional investors and hedge funds own 95.86% of the company’s stock.
Shares of Enersys (NYSE:ENS) opened at 63.41 on Friday. The firm’s 50-day moving average price is $71.99 and its 200-day moving average price is $76.99. The firm has a market cap of $2.75 billion, a PE ratio of 17.09 and a beta of 1.65. Enersys has a 12 month low of $62.31 and a 12 month high of $84.74.
Enersys (NYSE:ENS) last issued its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by $0.01. The firm had revenue of $622.60 million for the quarter, compared to analysts’ expectations of $615.77 million. Enersys had a return on equity of 18.90% and a net margin of 6.86%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. Analysts expect that Enersys will post $4.83 earnings per share for the current year.
Enersys declared that its Board of Directors has initiated a stock repurchase program 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 reacquire up to 3.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, September 14th. Enersys’s payout ratio is 18.87%.
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Several brokerages recently weighed in on ENS. Zacks Investment Research upgraded Enersys from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Monday, May 8th. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Enersys in a research note on Thursday, May 4th. ValuEngine upgraded Enersys from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Enersys from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $84.33.
In other Enersys news, insider Holger P. Aschke sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $81.00, for a total transaction of $243,000.00. Following the transaction, the insider now owns 28,928 shares of the company’s stock, valued at $2,343,168. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kerry M. Kane sold 4,413 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $82.16, for a total value of $362,572.08. Following the transaction, the vice president now directly owns 17,210 shares in the company, valued at approximately $1,413,973.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,676 shares of company stock worth $627,462. Corporate insiders own 1.40% of the company’s stock.
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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