Enersys (ENS) Holdings Reduced by Franklin Resources Inc.
Franklin Resources Inc. lowered its stake in Enersys (NYSE:ENS) by 34.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 510,210 shares of the industrial products company’s stock after selling 264,500 shares during the quarter. Franklin Resources Inc. owned about 1.18% of Enersys worth $36,965,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Virginia Retirement Systems ET AL lifted its position in Enersys by 100.0% in the second quarter. Virginia Retirement Systems ET AL now owns 33,200 shares of the industrial products company’s stock valued at $2,405,000 after buying an additional 16,600 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Enersys by 12.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 25,808 shares of the industrial products company’s stock valued at $1,870,000 after buying an additional 2,846 shares during the last quarter. Bank of America Corp DE lifted its position in Enersys by 23.8% in the first quarter. Bank of America Corp DE now owns 368,650 shares of the industrial products company’s stock valued at $29,102,000 after buying an additional 70,950 shares during the last quarter. Geode Capital Management LLC lifted its position in Enersys by 9.7% in the first quarter. Geode Capital Management LLC now owns 419,444 shares of the industrial products company’s stock valued at $33,110,000 after buying an additional 37,122 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Enersys in the first quarter valued at about $338,000. 94.84% of the stock is currently owned by institutional investors.
Enersys (ENS) opened at 68.19 on Friday. The firm has a market cap of $2.96 billion, a PE ratio of 18.38 and a beta of 1.66. Enersys has a 52-week low of $61.33 and a 52-week high of $84.74. The firm has a 50-day moving average of $66.55 and a 200-day moving average of $74.58.
Enersys (NYSE:ENS) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). Enersys had a return on equity of 18.90% and a net margin of 6.86%. The business had revenue of $622.60 million during the quarter, compared to analyst estimates of $615.77 million. During the same period in the previous year, the business posted $1.14 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts anticipate that Enersys will post $4.67 EPS for the current year.
Enersys announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 3.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, September 14th. Enersys’s payout ratio is 18.87%.
A number of research firms have commented on ENS. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $92.00 target price (down previously from $95.00) on shares of Enersys in a research report on Friday, June 2nd. Zacks Investment Research raised shares of Enersys from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Sidoti raised shares of Enersys from a “neutral” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Thursday, August 17th. BidaskClub cut shares of Enersys from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Finally, ValuEngine raised shares of Enersys from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Enersys currently has an average rating of “Hold” and a consensus target price of $82.67.
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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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