Mirae Asset Global Investments Co. Ltd. Lowers Holdings in EnerSys (NYSE:ENS)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of EnerSys (NYSE:ENS) by 22.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,222 shares of the industrial products company’s stock after selling 2,118 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in EnerSys were worth $734,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of EnerSys in the 2nd quarter valued at $25,000. Covestor Ltd raised its position in shares of EnerSys by 231.6% in the first quarter. Covestor Ltd now owns 378 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 264 shares during the period. 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. GAMMA Investing LLC grew its position in shares of EnerSys by 141.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 224 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of EnerSys in the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 94.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ENS. Roth Capital upgraded EnerSys to a “strong-buy” rating in a research report on Tuesday, August 27th. StockNews.com lowered EnerSys from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Roth Mkm reissued a “buy” rating and issued a $120.00 price target on shares of EnerSys in a research note on Monday, September 23rd. Three investment 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $118.00.

EnerSys Price Performance

NYSE:ENS opened at $97.40 on Friday. The stock has a 50 day moving average of $99.92 and a two-hundred day moving average of $100.39. EnerSys has a 12 month low of $83.27 and a 12 month high of $112.53. The firm has a market cap of $3.92 billion, a P/E ratio of 14.74, a price-to-earnings-growth 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 (NYSE:ENS) last posted its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.97 by $0.01. EnerSys had a return on equity of 19.98% and a net margin of 7.73%. The firm had revenue of $852.90 million during the quarter, compared to the consensus estimate of $877.52 million. During the same period in the prior year, the company earned $1.89 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. On average, analysts expect that EnerSys will post 8.93 earnings per share for the current fiscal year.

EnerSys Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from EnerSys’s previous quarterly dividend of $0.23. EnerSys’s dividend payout ratio is currently 14.52%.

Insider Buying and Selling at EnerSys

In other news, CEO David M. Shaffer sold 17,600 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $100.08, for a total transaction of $1,761,408.00. Following the transaction, the chief executive officer now directly owns 226,540 shares in the company, valued at $22,672,123.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other EnerSys news, CEO David M. Shaffer sold 17,600 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was 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 of the company’s stock, valued at $22,672,123.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Chad C. Uplinger sold 500 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $100.87, for a total transaction of $50,435.00. Following the transaction, the insider now directly owns 17,175 shares in the company, valued at approximately $1,732,442.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,700 shares of company stock worth $2,271,843. Insiders own 1.61% of the company’s stock.

EnerSys 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.