Citigroup Inc. lessened its stake in Enersys (NYSE:ENS) by 49.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,519 shares of the industrial products company’s stock after selling 7,285 shares during the quarter. Citigroup Inc.’s holdings in Enersys were worth $545,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Enersys by 17,956.9% in the first quarter. BlackRock Inc. now owns 4,444,522 shares of the industrial products company’s stock valued at $350,852,000 after purchasing an additional 4,419,908 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Enersys by 9.4% in the first quarter. Vanguard Group Inc. now owns 3,710,902 shares of the industrial products company’s stock worth $292,939,000 after acquiring an additional 318,032 shares in the last quarter. Boston Partners increased its holdings in shares of Enersys by 47.8% in the second quarter. Boston Partners now owns 2,676,099 shares of the industrial products company’s stock worth $193,884,000 after acquiring an additional 866,056 shares in the last quarter. State Street Corp increased its holdings in shares of Enersys by 3.5% in the first quarter. State Street Corp now owns 1,432,212 shares of the industrial products company’s stock worth $113,059,000 after acquiring an additional 48,515 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Enersys by 0.5% in the second quarter. Wedge Capital Management L L P NC now owns 602,761 shares of the industrial products company’s stock worth $43,670,000 after acquiring an additional 2,912 shares in the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.
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Enersys (NYSE:ENS) last announced its quarterly earnings data 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). The business had revenue of $622.60 million during the quarter, compared to analyst estimates of $615.77 million. Enersys had a net margin of 6.86% and a return on equity of 18.90%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Thursday, September 14th. Enersys’s dividend payout ratio is 18.87%.
Enersys declared that its Board of Directors has initiated a share repurchase plan 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 plans are generally a sign that the company’s board of directors believes its shares are undervalued.
ENS has been the subject of several recent analyst reports. Sidoti upgraded Enersys from a “neutral” rating to a “buy” rating and set a $83.00 price target for the company in a report on Thursday, August 17th. Zacks Investment Research upgraded Enersys from a “strong sell” rating to a “hold” rating in a report on Wednesday. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $82.00 price target (down from $92.00) on shares of Enersys in a report on Wednesday, August 9th. BidaskClub downgraded Enersys from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, ValuEngine downgraded Enersys from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Enersys presently has an average rating of “Hold” and an average target price of $82.50.
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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