State of Michigan Retirement System Has $1.01 Million Stock Position in EnerSys (NYSE:ENS)

State of Michigan Retirement System lowered its position in shares of EnerSys (NYSE:ENS) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,772 shares of the industrial products company’s stock after selling 200 shares during the quarter. State of Michigan Retirement System’s holdings in EnerSys were worth $1,012,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in EnerSys by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 4,396,164 shares of the industrial products company’s stock worth $415,262,000 after acquiring an additional 60,021 shares during the last quarter. Janus Henderson Group PLC boosted its position in EnerSys by 1.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,306,505 shares of the industrial products company’s stock worth $123,412,000 after acquiring an additional 14,531 shares during the last quarter. Principal Financial Group Inc. boosted its position in EnerSys by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 894,688 shares of the industrial products company’s stock worth $84,512,000 after acquiring an additional 32,730 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in EnerSys by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 560,347 shares of the industrial products company’s stock worth $56,573,000 after acquiring an additional 6,758 shares during the last quarter. Finally, Norges Bank acquired a new position in EnerSys during the 4th quarter worth approximately $46,747,000. Institutional investors and hedge funds own 94.93% of the company’s stock.

EnerSys Stock Up 1.1 %

ENS opened at $101.37 on Friday. EnerSys has a 1-year low of $83.27 and a 1-year high of $112.53. The stock’s fifty day simple moving average is $101.69 and its 200 day simple moving average is $97.76. The company has a current ratio of 2.46, a quick ratio of 1.50 and a debt-to-equity ratio of 0.46. The stock has a market cap of $4.08 billion, a PE ratio of 15.60, a price-to-earnings-growth ratio of 0.67 and a beta of 1.28.

EnerSys (NYSE:ENS) last posted its quarterly earnings results on Wednesday, August 7th. The industrial products company reported $1.98 earnings per share for the quarter, beating 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 business had revenue of $852.90 million for the quarter, compared to analysts’ expectations of $877.52 million. During the same quarter in the prior year, the business earned $1.89 EPS. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, research analysts expect that EnerSys will post 8.74 earnings per share for the current year.

EnerSys Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Monday, September 16th. This is a boost from EnerSys’s previous quarterly dividend of $0.23. EnerSys’s dividend payout ratio is 14.77%.

Analysts Set New Price Targets

Several research firms have recently commented on ENS. BTIG Research downgraded EnerSys from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Roth Mkm began coverage on EnerSys in a report on Tuesday. They issued a “buy” rating and a $120.00 price objective for the company. Roth Capital raised EnerSys to a “strong-buy” rating in a report on Tuesday. Finally, StockNews.com downgraded EnerSys from a “strong-buy” rating to a “buy” rating in a report on Friday. 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.00.

Insider Activity at EnerSys

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

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.