Wed Sep 25 08:42:53 UTC 2024: ## New Jersey Pension Fund Cuts Stake in EnerSys as Institutional Investors Show Mixed Interest

**[City, State] –** The State of New Jersey Common Pension Fund D significantly reduced its holdings in EnerSys (NYSE:ENS) during the second quarter, shedding 43.9% of its position in the industrial products company, according to a recent SEC filing.

The pension fund now owns 17,322 shares of EnerSys, valued at $1,793,000, after selling 13,530 shares during the period. This move comes amidst a mixed bag of activity from other institutional investors.

While Vanguard Group Inc. increased its stake in EnerSys by 1.4% in the first quarter, Janus Henderson Group PLC and Principal Financial Group Inc. also boosted their holdings in the company. Notably, Norges Bank purchased a new position in EnerSys during the fourth quarter, valuing its stake at approximately $46,747,000.

However, the pension fund’s decision to decrease its position suggests a less optimistic outlook on EnerSys’s future performance.

**Insider Trading**

The news comes as several insiders at EnerSys have been selling shares. Chad C. Uplinger, an insider, sold 500 shares on August 30th at an average price of $100.87. CEO David M. Shaffer also sold 2,400 shares on August 26th at an average price of $100.00.

**Company Performance**

EnerSys reported strong earnings in the second quarter, exceeding analyst estimates. However, its revenue declined by 6.1% year-over-year.

Analysts are predicting that EnerSys will post earnings per share of 8.94 for the current year.

**Dividend**

EnerSys recently declared a quarterly dividend of $0.24, payable on September 30th to investors of record on September 16th. This represents a $0.96 annualized dividend and a yield of 0.96%.

**Outlook**

EnerSys is a leading provider of stored energy solutions for industrial applications worldwide. However, the company is facing headwinds from global economic uncertainty and supply chain disruptions. The pension fund’s decision to reduce its stake in EnerSys could be an indication of these challenges.

It remains to be seen whether EnerSys can maintain its strong earnings performance and deliver long-term shareholder value.

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