Norges Bank Acquires New Position in Enerpac Tool Group Corp. (NYSE:EPAC)

Norges Bank bought a new position in Enerpac Tool Group Corp. (NYSE:EPAC) during the fourth quarter, Holdings Channel.com reports. The fund bought 158,996 shares of the company’s stock, valued at approximately $6,533,000.

A number of other institutional investors have also modified their holdings of EPAC. State Street Corp boosted its holdings in shares of Enerpac Tool Group by 16.3% in the third quarter. State Street Corp now owns 2,393,472 shares of the company’s stock valued at $100,263,000 after purchasing an additional 336,323 shares during the period. Geode Capital Management LLC raised its position in Enerpac Tool Group by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,236,259 shares of the company’s stock valued at $51,797,000 after purchasing an additional 21,056 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Enerpac Tool Group by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 626,058 shares of the company’s stock worth $25,725,000 after buying an additional 4,602 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Enerpac Tool Group by 1,061.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 495,282 shares of the company’s stock worth $20,351,000 after buying an additional 452,641 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Enerpac Tool Group by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 287,271 shares of the company’s stock valued at $11,804,000 after buying an additional 9,777 shares during the period. 97.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, CJS Securities began coverage on shares of Enerpac Tool Group in a research note on Friday, March 14th. They issued an “outperform” rating and a $53.00 price objective for the company.

Enerpac Tool Group Price Performance

NYSE EPAC opened at $37.48 on Wednesday. The company has a market cap of $2.03 billion, a PE ratio of 22.85 and a beta of 1.08. The firm’s 50 day moving average price is $44.54 and its 200-day moving average price is $44.72. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.24 and a current ratio of 2.92. Enerpac Tool Group Corp. has a 52-week low of $34.59 and a 52-week high of $51.91.

Enerpac Tool Group (NYSE:EPAC) last announced its earnings results on Monday, March 24th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $145.53 million for the quarter, compared to analysts’ expectations of $139.80 million. Enerpac Tool Group had a return on equity of 25.39% and a net margin of 15.14%. Sell-side analysts forecast that Enerpac Tool Group Corp. will post 1.78 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.