Massachusetts Financial Services Co. MA Sells 164,193 Shares of Enerpac Tool Group Corp. (NYSE:EPAC)

Massachusetts Financial Services Co. MA decreased its position in shares of Enerpac Tool Group Corp. (NYSE:EPAC) by 14.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 950,258 shares of the company’s stock after selling 164,193 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.58% of Enerpac Tool Group worth $24,821,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EPAC. Price T Rowe Associates Inc. MD grew its position in shares of Enerpac Tool Group by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,744,052 shares of the company’s stock worth $175,093,000 after buying an additional 985,619 shares in the last quarter. Norges Bank bought a new position in shares of Enerpac Tool Group during the 4th quarter worth $20,650,000. BlackRock Inc. grew its position in shares of Enerpac Tool Group by 6.5% during the 1st quarter. BlackRock Inc. now owns 9,396,587 shares of the company’s stock worth $245,438,000 after buying an additional 575,481 shares in the last quarter. Cooke & Bieler LP boosted its position in Enerpac Tool Group by 18.9% during the fourth quarter. Cooke & Bieler LP now owns 1,170,694 shares of the company’s stock valued at $26,469,000 after purchasing an additional 186,491 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Enerpac Tool Group by 21.8% during the first quarter. Jennison Associates LLC now owns 827,441 shares of the company’s stock valued at $21,613,000 after purchasing an additional 148,152 shares in the last quarter.

Enerpac Tool Group stock opened at $25.62 on Friday. The company has a 50-day simple moving average of $26.84. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.20 and a current ratio of 2.82. Enerpac Tool Group Corp. has a one year low of $15.11 and a one year high of $28.84. The stock has a market capitalization of $1.54 billion, a PE ratio of 229.18 and a beta of 1.48.

Enerpac Tool Group (NYSE:EPAC) last released its quarterly earnings results on Tuesday, March 23rd. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.06). Enerpac Tool Group had a net margin of 0.93% and a return on equity of 1.92%. The business had revenue of $120.70 million during the quarter, compared to analysts’ expectations of $125.98 million. The company’s revenue was down 9.5% compared to the same quarter last year. Equities research analysts predict that Enerpac Tool Group Corp. will post 0.53 EPS for the current fiscal year.

EPAC has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on Enerpac Tool Group from $19.00 to $23.00 in a research report on Wednesday, March 24th. Wells Fargo & Company downgraded Enerpac Tool Group from an “equal weight” rating to an “underweight” rating and set a $22.00 price objective on the stock. in a research report on Tuesday, June 8th. They noted that the move was a valuation call. Royal Bank of Canada dropped their price objective on Enerpac Tool Group from $27.00 to $26.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, CJS Securities initiated coverage on Enerpac Tool Group in a research report on Friday, March 19th. They set an “outperform” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $25.20.

About Enerpac Tool Group

Enerpac Tool Group Corp. manufactures and sells a range of industrial products and solutions worldwide. It operates in two segments, Industrial Tools & Services (IT&S) and Other. The IT&S segment designs, manufactures, and distributes branded hydraulic and mechanical tools; and provides services and tool rentals to the industrial, maintenance, infrastructure, oil and gas, energy, and other markets.

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Institutional Ownership by Quarter for Enerpac Tool Group (NYSE:EPAC)

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