Jennison Associates LLC Decreases Stock Position in Enerpac Tool Group Corp. $EPAC

Jennison Associates LLC reduced its position in Enerpac Tool Group Corp. (NYSE:EPAC) by 17.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 663,069 shares of the company’s stock after selling 142,456 shares during the period. Jennison Associates LLC’s holdings in Enerpac Tool Group were worth $25,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Tudor Investment Corp ET AL increased its stake in shares of Enerpac Tool Group by 58.0% in the third quarter. Tudor Investment Corp ET AL now owns 167,029 shares of the company’s stock worth $6,848,000 after acquiring an additional 61,337 shares during the last quarter. Cooke & Bieler LP increased its stake in shares of Enerpac Tool Group by 46.2% in the third quarter. Cooke & Bieler LP now owns 1,546,003 shares of the company’s stock worth $63,386,000 after acquiring an additional 488,209 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Enerpac Tool Group by 627.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 36,158 shares of the company’s stock worth $1,482,000 after acquiring an additional 31,188 shares during the last quarter. Capital International Investors increased its stake in shares of Enerpac Tool Group by 9.8% in the third quarter. Capital International Investors now owns 4,530,064 shares of the company’s stock worth $185,733,000 after acquiring an additional 403,834 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Enerpac Tool Group by 4.7% in the third quarter. Thrivent Financial for Lutherans now owns 1,136,844 shares of the company’s stock worth $46,610,000 after acquiring an additional 50,645 shares during the last quarter. 97.70% of the stock is currently owned by hedge funds and other institutional investors.

Enerpac Tool Group Trading Down 0.5%

Enerpac Tool Group stock opened at $34.91 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.56 and a quick ratio of 1.88. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 21.82 and a beta of 0.89. Enerpac Tool Group Corp. has a one year low of $33.66 and a one year high of $46.39. The company’s fifty day moving average price is $36.91 and its two-hundred day moving average price is $38.99.

Enerpac Tool Group (NYSE:EPAC) last posted its earnings results on Wednesday, March 25th. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $154.81 million for the quarter, compared to the consensus estimate of $147.80 million. Enerpac Tool Group had a net margin of 13.69% and a return on equity of 22.25%. Enerpac Tool Group’s revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that Enerpac Tool Group Corp. will post 1.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EPAC has been the topic of a number of research reports. Wall Street Zen raised shares of Enerpac Tool Group from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. William Blair initiated coverage on shares of Enerpac Tool Group in a research note on Friday, January 16th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $51.00.

Enerpac Tool Group Company Profile

Enerpac Tool Group Corp. (NYSE: EPAC) is a global provider of high-pressure hydraulic tools, controlled force products and precision positioning equipment. The company’s products and solutions enable customers in manufacturing, energy, infrastructure, transportation and construction to lift, move, position and secure heavy loads with safety and accuracy. Enerpac’s core portfolio includes hydraulic pumps, cylinders, torque wrenches, torque multipliers, flange spreaders, tensioners and portable bolting tools, complemented by electric and pneumatic tools for a wide range of industrial applications.

In addition to its extensive product lines, Enerpac offers integrated systems and services such as engineered lifting solutions, custom skidding and spreader beam assemblies, mobile bolting units and digital monitoring platforms.