Jennison Associates LLC Cuts Position in Enerpac Tool Group Corp. (NYSE:EPAC)

Jennison Associates LLC decreased its holdings in shares of Enerpac Tool Group Corp. (NYSE:EPAC - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,152,074 shares of the company's stock after selling 20,328 shares during the quarter. Jennison Associates LLC owned approximately 3.97% of Enerpac Tool Group worth $90,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in Enerpac Tool Group by 55.9% in the first quarter. Sei Investments Co. now owns 75,643 shares of the company's stock valued at $2,697,000 after acquiring an additional 27,123 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Enerpac Tool Group during the 2nd quarter worth approximately $204,000. CWM LLC grew its stake in Enerpac Tool Group by 89.3% during the 2nd quarter. CWM LLC now owns 2,275 shares of the company's stock worth $87,000 after buying an additional 1,073 shares during the last quarter. Quest Partners LLC acquired a new position in Enerpac Tool Group during the third quarter worth approximately $1,312,000. Finally, Bessemer Group Inc. lifted its stake in Enerpac Tool Group by 7.8% in the first quarter. Bessemer Group Inc. now owns 44,358 shares of the company's stock valued at $1,581,000 after buying an additional 3,210 shares during the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director E James Ferland, Jr. sold 1,938 shares of Enerpac Tool Group stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $44.17, for a total value of $85,601.46. Following the sale, the director now owns 86,047 shares of the company's stock, valued at $3,800,695.99. The trade was a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by insiders.

Enerpac Tool Group Stock Performance

Shares of EPAC opened at $47.52 on Thursday. The company's 50 day simple moving average is $44.33 and its 200-day simple moving average is $40.88. The firm has a market cap of $2.58 billion, a PE ratio of 30.46 and a beta of 1.14. Enerpac Tool Group Corp. has a 12-month low of $27.06 and a 12-month high of $51.91. The company has a current ratio of 2.88, a quick ratio of 2.31 and a debt-to-equity ratio of 0.48.

Enerpac Tool Group (NYSE:EPAC - Get Free Report) last posted its quarterly earnings data on Tuesday, October 15th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.03). Enerpac Tool Group had a net margin of 14.55% and a return on equity of 26.70%. The business had revenue of $158.71 million during the quarter, compared to analyst estimates of $156.70 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. As a group, equities analysts predict that Enerpac Tool Group Corp. will post 1.81 EPS for the current 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.