Bank of New York Mellon Corp Reduces Holdings in Enersys (NYSE:ENS)

Bank of New York Mellon Corp decreased its position in shares of Enersys (NYSE:ENS) by 20.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 404,866 shares of the industrial products company’s stock after selling 101,984 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.03% of Enersys worth $37,078,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. increased its position in Enersys by 23.1% in the 1st quarter. QRG Capital Management Inc. now owns 7,046 shares of the industrial products company’s stock valued at $645,000 after acquiring an additional 1,323 shares during the period. Allspring Global Investments Holdings LLC increased its position in Enersys by 74.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 68,542 shares of the industrial products company’s stock valued at $6,339,000 after acquiring an additional 29,268 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Enersys by 11.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,760 shares of the industrial products company’s stock valued at $1,077,000 after acquiring an additional 1,165 shares during the period. GAMMA Investing LLC increased its position in Enersys by 284.6% in the 1st quarter. GAMMA Investing LLC now owns 1,346 shares of the industrial products company’s stock valued at $123,000 after acquiring an additional 996 shares during the period. Finally, CX Institutional acquired a new position in Enersys in the 1st quarter valued at about $69,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Enersys Price Performance

Shares of ENS opened at $87.45 on Tuesday. Enersys has a twelve month low of $76.57 and a twelve month high of $112.53. The stock’s 50 day moving average is $88.48 and its two-hundred day moving average is $91.80. The firm has a market capitalization of $3.43 billion, a PE ratio of 9.71, a P/E/G ratio of 0.50 and a beta of 1.07. The company has a current ratio of 2.70, a quick ratio of 1.74 and a debt-to-equity ratio of 0.56.

Enersys (NYSE:ENS) last announced its quarterly earnings data on Wednesday, May 21st. The industrial products company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.19. Enersys had a return on equity of 22.12% and a net margin of 10.05%. The company had revenue of $974.80 million for the quarter, compared to analyst estimates of $973.45 million. During the same quarter in the previous year, the company earned $2.08 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Research analysts anticipate that Enersys will post 9.99 earnings per share for the current year.

Enersys Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, June 13th. Enersys’s dividend payout ratio is currently 10.65%.

Insider Buying and Selling

In other Enersys news, CEO Shawn M. O’connell acquired 475 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were acquired at an average price of $83.76 per share, for a total transaction of $39,786.00. Following the completion of the acquisition, the chief executive officer directly owned 43,030 shares of the company’s stock, valued at $3,604,192.80. This trade represents a 1.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Andrea J. Funk bought 315 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $80.20 per share, for a total transaction of $25,263.00. Following the completion of the transaction, the chief financial officer directly owned 50,645 shares in the company, valued at approximately $4,061,729. This trade represents a 0.63% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 1,085 shares of company stock worth $89,726. Insiders own 0.91% of the company’s stock.

Analysts Set New Price Targets

ENS has been the topic of several recent research reports. Wall Street Zen upgraded Enersys from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 29th. Roth Capital restated a “buy” rating on shares of Enersys in a research report on Thursday, May 22nd. Finally, Roth Mkm restated a “buy” rating and issued a $120.00 price target on shares of Enersys in a research report on Wednesday, May 14th.

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.