Raymond James & Associates decreased its position in shares of EnerSys (NYSE:ENS) by 46.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,230 shares of the industrial products company’s stock after selling 28,800 shares during the period. Raymond James & Associates’ holdings in EnerSys were worth $2,165,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Krane Funds Advisors LLC bought a new stake in EnerSys in the first quarter worth approximately $332,000. IndexIQ Advisors LLC purchased a new position in EnerSys in the first quarter worth $1,613,000. State Treasurer State of Michigan boosted its position in EnerSys by 2.0% in the first quarter. State Treasurer State of Michigan now owns 15,300 shares of the industrial products company’s stock worth $997,000 after purchasing an additional 300 shares during the last quarter. South Dakota Investment Council boosted its position in EnerSys by 42.8% in the first quarter. South Dakota Investment Council now owns 13,990 shares of the industrial products company’s stock worth $912,000 after purchasing an additional 4,190 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in EnerSys by 15.4% in the first quarter. Victory Capital Management Inc. now owns 424,948 shares of the industrial products company’s stock worth $27,690,000 after purchasing an additional 56,577 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.
Shares of NYSE ENS traded down $0.41 during trading on Wednesday, reaching $62.60. 15,704 shares of the stock traded hands, compared to its average volume of 361,361. EnerSys has a 52-week low of $55.51 and a 52-week high of $89.83. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.51 and a quick ratio of 1.68. The stock has a market capitalization of $2.73 billion, a PE ratio of 12.70, a P/E/G ratio of 1.06 and a beta of 1.42.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.175 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.12%. EnerSys’s dividend payout ratio is presently 14.20%.
Several research analysts have weighed in on the company. TheStreet cut EnerSys from a “b-” rating to a “c+” rating in a research report on Thursday, May 30th. Oppenheimer cut their price objective on EnerSys from $94.00 to $87.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Sidoti set a $101.00 price objective on EnerSys and gave the stock a “buy” rating in a research report on Friday, May 17th. ValuEngine cut EnerSys from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research raised EnerSys from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $90.95.
EnerSys manufactures, markets, and distributes industrial batteries. The company offers battery chargers, power equipment, battery accessories, and outdoor cabinet enclosures, as well as related after-market and customer-support services for industrial batteries. It also provides reserve power products that are used for backup power for the continuous operation of critical applications in telecommunications systems, uninterruptible power systems applications for computer and computer-controlled systems, and other specialty power applications, including medical and security systems, premium starting, lighting, and ignition applications, as well as in switchgear, electrical control systems used in electric utilities, large-scale energy storage, energy pipelines, commercial aircraft, satellites, military aircraft, submarines, ships, and tactical vehicles.
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