Jennison Associates LLC Has $88.04 Million Position in Enerpac Tool Group Corp. (NYSE:EPAC)

Jennison Associates LLC cut its holdings in Enerpac Tool Group Corp. (NYSE:EPAC) by 10.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,468,722 shares of the company’s stock after selling 275,741 shares during the period. Jennison Associates LLC owned approximately 4.55% of Enerpac Tool Group worth $88,035,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quest Partners LLC bought a new position in Enerpac Tool Group in the 4th quarter valued at approximately $378,000. Capital International Investors grew its position in Enerpac Tool Group by 2.8% in the 4th quarter. Capital International Investors now owns 4,347,380 shares of the company’s stock valued at $135,160,000 after purchasing an additional 118,691 shares during the period. Quadrature Capital Ltd acquired a new stake in Enerpac Tool Group in the 4th quarter valued at $597,000. Cooke & Bieler LP grew its position in Enerpac Tool Group by 4.6% in the 4th quarter. Cooke & Bieler LP now owns 1,477,913 shares of the company’s stock valued at $45,948,000 after purchasing an additional 64,685 shares during the period. Finally, Federated Hermes Inc. lifted its stake in Enerpac Tool Group by 5.6% during the 4th quarter. Federated Hermes Inc. now owns 75,972 shares of the company’s stock valued at $2,362,000 after acquiring an additional 4,022 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors and hedge funds.

Enerpac Tool Group Price Performance

Shares of EPAC traded down $0.38 during midday trading on Tuesday, hitting $37.95. 58,661 shares of the company traded hands, compared to its average volume of 290,125. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.85 and a quick ratio of 2.20. The stock has a 50-day moving average of $37.98 and a 200-day moving average of $34.70. The firm has a market cap of $2.06 billion, a P/E ratio of 25.22 and a beta of 1.15. Enerpac Tool Group Corp. has a one year low of $24.58 and a one year high of $39.49.

Enerpac Tool Group (NYSE:EPAC) last announced its quarterly earnings results on Monday, June 24th. The company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The company had revenue of $150.39 million during the quarter, compared to analyst estimates of $153.20 million. Enerpac Tool Group had a return on equity of 26.80% and a net margin of 14.13%. During the same quarter last year, the firm posted $0.39 earnings per share. As a group, sell-side analysts predict that Enerpac Tool Group Corp. will post 1.75 EPS for the current fiscal year.

About Enerpac Tool Group

Enerpac Tool Group Corp. manufactures and sells a range of industrial products and solutions in the United States, the United Kingdom, Germany, Australia, Canada, China, Saudi Arabia, Brazil, France, and internationally. It operates through Industrial Tools & Services and Other segments. The Industrial Tools & Services segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the infrastructure, industrial maintenance, repair and operations, oil and gas, mining, alternative and renewable energy, civil construction, and other markets.