Pinnacle Associates Ltd. Lowers Stake in EnerSys (NYSE:ENS)

Pinnacle Associates Ltd. reduced its position in shares of EnerSys (NYSE:ENS) by 10.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,860 shares of the industrial products company’s stock after selling 1,680 shares during the quarter. Pinnacle Associates Ltd.’s holdings in EnerSys were worth $1,399,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. UMB Bank n.a. boosted 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 acquiring an additional 94 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of EnerSys by 2.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,471 shares of the industrial products company’s stock worth $422,000 after purchasing an additional 126 shares during the last quarter. Aurora Investment Counsel raised its position in shares of EnerSys by 0.7% during the 2nd quarter. Aurora Investment Counsel now owns 19,936 shares of the industrial products company’s stock worth $2,064,000 after purchasing an additional 139 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of EnerSys by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 50,752 shares of the industrial products company’s stock worth $4,794,000 after purchasing an additional 154 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV raised its position in shares of EnerSys by 2.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 7,191 shares of the industrial products company’s stock worth $744,000 after purchasing an additional 167 shares during the last quarter. 94.93% of the stock is owned by hedge funds and other institutional investors.

EnerSys Stock Up 0.7 %

ENS stock opened at $97.49 on Friday. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.61 and a beta of 1.23. The company has a current ratio of 2.70, a quick ratio of 1.66 and a debt-to-equity ratio of 0.48. EnerSys has a 12 month low of $83.27 and a 12 month high of $112.53. The firm has a 50-day moving average of $99.92 and a two-hundred day moving average of $100.39.

EnerSys (NYSE:ENS) last released its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.01. EnerSys had a net margin of 7.73% and a return on equity of 19.98%. The company had revenue of $852.90 million during the quarter, compared to the consensus estimate of $877.52 million. During the same quarter in the prior year, the firm earned $1.89 EPS. EnerSys’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, analysts forecast that EnerSys will post 8.93 earnings per share for the current fiscal year.

EnerSys Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.24 dividend. This is a boost from EnerSys’s previous quarterly dividend of $0.23. The ex-dividend date was Monday, September 16th. This represents a $0.96 annualized dividend and a dividend yield of 0.98%. EnerSys’s dividend payout ratio is 14.52%.

Analyst Ratings Changes

ENS has been the subject of several research analyst reports. Roth Mkm restated a “buy” rating and set a $120.00 price target on shares of EnerSys in a research report on Monday, September 23rd. StockNews.com downgraded shares of EnerSys from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Roth Capital upgraded shares of EnerSys to a “strong-buy” rating in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Insider Activity

In other news, VP Joern Tinnemeyer sold 2,200 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $100.00, for a total value of $220,000.00. Following the completion of the sale, the vice president now owns 25,368 shares of the company’s stock, valued at $2,536,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Chad C. Uplinger sold 500 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 17,175 shares of the company’s stock, valued at approximately $1,732,442.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the vice president now directly owns 25,368 shares of the company’s stock, valued at $2,536,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,700 shares of company stock valued at $2,271,843 in the last 90 days. Company insiders own 1.61% of the company’s stock.

EnerSys Company Profile

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.