First Eagle Investment Management LLC Lowers Stock Position in EnerSys (NYSE:ENS)

First Eagle Investment Management LLC cut its stake in shares of EnerSys (NYSE:ENS) by 49.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,247 shares of the industrial products company’s stock after selling 28,777 shares during the quarter. First Eagle Investment Management LLC owned about 0.07% of EnerSys worth $3,028,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of EnerSys in the 2nd quarter worth approximately $25,000. Covestor Ltd increased its position in shares of EnerSys by 231.6% in the first quarter. Covestor Ltd now owns 378 shares of the industrial products company’s stock valued at $36,000 after buying an additional 264 shares in the last quarter. UMB Bank n.a. raised its stake in shares of EnerSys by 36.2% during the 2nd quarter. UMB Bank n.a. now owns 354 shares of the industrial products company’s stock worth $37,000 after buying an additional 94 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of EnerSys by 141.8% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the industrial products company’s stock worth $40,000 after buying an additional 224 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in EnerSys in the 4th quarter valued at about $52,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

EnerSys Trading Down 0.4 %

Shares of ENS opened at $102.14 on Friday. EnerSys has a fifty-two week low of $83.27 and a fifty-two week high of $112.53. The stock has a fifty day moving average of $100.76 and a two-hundred day moving average of $98.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.66 and a current ratio of 2.70. The company has a market capitalization of $4.11 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.60 and a beta of 1.24.

EnerSys (NYSE:ENS) last released its earnings results on Wednesday, August 7th. The industrial products company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.01. The firm had revenue of $852.90 million for the quarter, compared to the consensus estimate of $877.52 million. EnerSys had a return on equity of 19.98% and a net margin of 7.73%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 earnings per share. As a group, analysts forecast that EnerSys will post 8.94 EPS for the current year.

EnerSys Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.24 per share. This is a positive change from EnerSys’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.96 annualized dividend and a yield of 0.94%. EnerSys’s dividend payout ratio is 14.77%.

Insiders Place Their Bets

In other news, insider Chad C. Uplinger sold 500 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $100.87, for a total transaction of $50,435.00. Following the completion of the sale, the insider now directly owns 17,175 shares of the company’s stock, valued at approximately $1,732,442.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Chad C. Uplinger sold 500 shares of EnerSys stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $100.87, for a total value of $50,435.00. Following the transaction, the insider now directly owns 17,175 shares of the company’s stock, valued at approximately $1,732,442.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joern Tinnemeyer sold 2,200 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $100.00, for a total transaction of $220,000.00. Following the sale, the vice president now directly owns 25,368 shares of the company’s stock, valued at approximately $2,536,800. The disclosure for this sale can be found here. Insiders have sold a total of 22,700 shares of company stock valued at $2,271,843 over the last quarter. Company insiders own 1.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ENS. Roth Mkm assumed coverage on shares of EnerSys in a report on Tuesday, August 27th. They issued a “buy” rating and a $120.00 price target on the stock. Roth Capital upgraded EnerSys to a “strong-buy” rating in a report on Tuesday, August 27th. StockNews.com cut EnerSys from a “strong-buy” rating to a “buy” rating in a report on Friday, August 30th. Finally, BTIG Research cut EnerSys from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $118.00.

About EnerSys

EnerSys engages in the provision of stored energy solutions for industrial applications worldwide. It operates in four segments: Energy Systems, Motive Power, Specialty, and New Ventures. The Energy Systems segment offers uninterruptible power systems (UPS) applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, data center, and renewable and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries.