Principal Financial Group Inc. Has $90.11 Million Stock Position in EnerSys (NYSE:ENS)

Principal Financial Group Inc. decreased its stake in shares of EnerSys (NYSE:ENS) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 870,464 shares of the industrial products company’s stock after selling 24,224 shares during the period. Principal Financial Group Inc. owned approximately 2.16% of EnerSys worth $90,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund grew its stake in shares of EnerSys by 24.5% during the 4th quarter. New York State Common Retirement Fund now owns 21,093 shares of the industrial products company’s stock worth $2,130,000 after acquiring an additional 4,151 shares in the last quarter. Silver Lake Advisory LLC increased its stake in EnerSys by 0.5% in the 4th quarter. Silver Lake Advisory LLC now owns 27,261 shares of the industrial products company’s stock valued at $2,752,000 after buying an additional 126 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in EnerSys during the 4th quarter worth about $265,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of EnerSys during the 4th quarter worth about $157,000. Finally, Peregrine Asset Advisers Inc. bought a new position in shares of EnerSys in the 4th quarter valued at about $374,000. 94.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ENS shares. Roth Capital raised EnerSys to a “strong-buy” rating in a research report on Tuesday. Roth Mkm assumed coverage on shares of EnerSys in a research note on Tuesday. They issued a “buy” rating and a $120.00 target price for the company. BTIG Research cut shares of EnerSys from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Finally, StockNews.com cut shares of EnerSys from a “strong-buy” rating to a “buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Insider Transactions at EnerSys

In other EnerSys news, CEO David M. Shaffer sold 17,600 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $100.08, for a total value of $1,761,408.00. Following the completion of the sale, the chief executive officer now owns 226,540 shares of the company’s stock, valued at approximately $22,672,123.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David M. Shaffer sold 17,600 shares of EnerSys stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $100.08, for a total value of $1,761,408.00. Following the completion of the sale, the chief executive officer now directly owns 226,540 shares in the company, valued at $22,672,123.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David M. Shaffer sold 2,400 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 value of $240,000.00. Following the sale, the chief executive officer now directly owns 244,140 shares in the company, valued at approximately $24,414,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,700 shares of company stock valued at $2,271,843. 1.61% of the stock is currently owned by corporate insiders.

EnerSys Stock Performance

Shares of ENS stock opened at $101.37 on Friday. EnerSys has a 52 week low of $83.27 and a 52 week high of $112.53. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.67 and a beta of 1.28. The company has a 50-day simple moving average of $101.69 and a 200 day simple moving average of $97.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.50 and a current ratio of 2.46.

EnerSys (NYSE:ENS) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.01. EnerSys had a return on equity of 20.21% and a net margin of 7.51%. The company had revenue of $852.90 million during the quarter, compared to analysts’ expectations of $877.52 million. During the same quarter in the previous year, the company posted $1.89 earnings per share. The business’s revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts predict that EnerSys will post 8.74 earnings per share for the current year.

EnerSys Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from EnerSys’s previous quarterly dividend of $0.23. EnerSys’s dividend payout ratio (DPR) is currently 14.77%.

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.