Corebridge Financial Inc. Trims Position in EnerSys (NYSE:ENS)

Corebridge Financial Inc. trimmed its position in EnerSys (NYSE:ENS) by 5.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 64,673 shares of the industrial products company’s stock after selling 4,014 shares during the period. Corebridge Financial Inc.’s holdings in EnerSys were worth $5,978,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. R Squared Ltd bought a new stake in EnerSys during the 4th quarter worth approximately $47,000. Millburn Ridgefield Corp bought a new position in shares of EnerSys in the third quarter worth $88,000. Proficio Capital Partners LLC bought a new position in shares of EnerSys in the fourth quarter worth $105,000. Parkside Financial Bank & Trust raised its position in shares of EnerSys by 110.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,293 shares of the industrial products company’s stock worth $120,000 after buying an additional 678 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in EnerSys during the third quarter valued at $125,000. 94.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ENS. StockNews.com raised EnerSys from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. Oppenheimer upgraded shares of EnerSys from a “market perform” rating to an “outperform” rating and set a $115.00 target price for the company in a research report on Friday, January 17th. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $117.50.

EnerSys Price Performance

Shares of EnerSys stock opened at $93.11 on Friday. The business’s 50-day moving average price is $98.64 and its 200-day moving average price is $97.67. The firm has a market capitalization of $3.67 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.57 and a beta of 1.18. EnerSys has a 12 month low of $88.50 and a 12 month high of $112.53. The company has a current ratio of 3.06, a quick ratio of 2.00 and a debt-to-equity ratio of 0.69.

EnerSys (NYSE:ENS) last announced its quarterly earnings data on Wednesday, February 5th. The industrial products company reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.85. EnerSys had a net margin of 9.23% and a return on equity of 20.78%. Sell-side analysts forecast that EnerSys will post 9.99 EPS for the current fiscal year.

EnerSys Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 1.03%. EnerSys’s dividend payout ratio is currently 11.88%.

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.