Global X Management Co. LLC Purchases 434,410 Shares of EnerSys (ENS)
Global X Management Co. LLC increased its position in EnerSys (NYSE:ENS) by 141.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 741,192 shares of the industrial products company’s stock after purchasing an additional 434,410 shares during the period. EnerSys comprises 1.2% of Global X Management Co. LLC’s investment portfolio, making the stock its 14th largest position. Global X Management Co. LLC’s holdings in EnerSys were worth $51,609,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. purchased a new stake in EnerSys in the third quarter worth $297,000. Public Employees Retirement System of Ohio grew its stake in shares of EnerSys by 26.6% in the second quarter. Public Employees Retirement System of Ohio now owns 32,105 shares of the industrial products company’s stock worth $2,326,000 after acquiring an additional 6,736 shares during the last quarter. Skylands Capital LLC grew its stake in shares of EnerSys by 11.0% in the third quarter. Skylands Capital LLC now owns 41,850 shares of the industrial products company’s stock worth $2,895,000 after acquiring an additional 4,150 shares during the last quarter. American International Group Inc. grew its stake in shares of EnerSys by 2.6% in the third quarter. American International Group Inc. now owns 118,068 shares of the industrial products company’s stock worth $8,167,000 after acquiring an additional 2,937 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of EnerSys by 8.3% in the third quarter. Janus Henderson Group PLC now owns 1,738,173 shares of the industrial products company’s stock worth $120,229,000 after acquiring an additional 133,541 shares during the last quarter. 97.17% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on ENS shares. Oppenheimer reissued a “buy” rating and issued a $77.00 target price (down from $82.00) on shares of EnerSys in a research note on Wednesday, November 1st. Zacks Investment Research cut EnerSys from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. CL King raised EnerSys from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 16th. Sidoti cut EnerSys from a “buy” rating to a “neutral” rating and set a $79.00 target price on the stock. in a research note on Tuesday, January 23rd. Finally, ValuEngine cut EnerSys from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. EnerSys has an average rating of “Hold” and a consensus price target of $78.00.
EnerSys (NYSE:ENS) last announced its quarterly earnings results on Wednesday, February 7th. The industrial products company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. The firm had revenue of $658.90 million for the quarter, compared to the consensus estimate of $634.75 million. EnerSys had a return on equity of 18.02% and a net margin of 3.94%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 earnings per share. analysts predict that EnerSys will post 4.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Thursday, March 15th. EnerSys’s payout ratio is currently 31.25%.
EnerSys declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 8th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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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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