Jennison Associates LLC Has $7.04 Million Stock Position in Enpro Inc. (NYSE:NPO)

Jennison Associates LLC cut its stake in Enpro Inc. (NYSE:NPO) by 82.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,832 shares of the industrial products company’s stock after selling 196,827 shares during the period. Jennison Associates LLC’s holdings in Enpro were worth $7,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Synovus Financial Corp raised its stake in Enpro by 102.7% during the third quarter. Synovus Financial Corp now owns 13,972 shares of the industrial products company’s stock worth $2,266,000 after acquiring an additional 7,078 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Enpro by 4.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 106,271 shares of the industrial products company’s stock valued at $17,235,000 after purchasing an additional 4,123 shares during the last quarter. Belmont Capital LLC acquired a new position in Enpro in the third quarter valued at about $565,000. Stifel Financial Corp grew its stake in Enpro by 10.6% during the third quarter. Stifel Financial Corp now owns 10,414 shares of the industrial products company’s stock worth $1,689,000 after buying an additional 995 shares during the last quarter. Finally, Harvey Partners LLC increased its holdings in shares of Enpro by 1.9% during the third quarter. Harvey Partners LLC now owns 212,500 shares of the industrial products company’s stock worth $34,463,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 98.31% of the company’s stock.

Enpro Stock Up 1.8 %

NYSE:NPO opened at $188.10 on Thursday. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 73.19 and a beta of 1.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.00 and a current ratio of 2.76. The stock’s fifty day moving average price is $179.14 and its two-hundred day moving average price is $165.80. Enpro Inc. has a 52-week low of $136.68 and a 52-week high of $197.94.

Enpro (NYSE:NPO) last posted its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.87 by ($0.13). The firm had revenue of $260.90 million during the quarter, compared to the consensus estimate of $264.47 million. Enpro had a net margin of 5.20% and a return on equity of 9.71%. Enpro’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 EPS. On average, analysts anticipate that Enpro Inc. will post 6.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NPO. KeyCorp increased their price target on Enpro from $180.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, December 12th. Oppenheimer raised their target price on Enpro from $170.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, StockNews.com downgraded shares of Enpro from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th.

Insider Activity

In other news, CAO Steven R. Bower sold 300 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $162.50, for a total transaction of $48,750.00. Following the sale, the chief accounting officer now owns 130 shares of the company’s stock, valued at $21,125. This trade represents a 69.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Enpro Profile

Enpro Inc design, develops, manufactures, and markets proprietary, value-added products and solutions to safeguard critical environments in the United States, Europe, and internationally. It operates through two segments, Sealing Technologies and Advanced Surface Technologies. The Sealing Technologies segment offers single-use hygienic seals, tubing, components and assemblies; metallic, non-metallic, and composite material gaskets; dynamic seals; compression packing; hydraulic components; expansion joints; and wall penetration products for chemical and petrochemical processing, pulp and paper processing, nuclear energy, hydrogen, natural gas, food and biopharmaceutical processing, primary metal manufacturing, mining, water and waste treatment, commercial vehicle, aerospace, medical, filtration, and semiconductor fabrication industries.