Jennison Associates Discloses 5.0% Stake in Enerpac Tool Group
Ticker: EPAC · Form: SC 13G · Filed: Feb 8, 2024 · CIK: 6955
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, insider-buy, stake-disclosure
TL;DR
**Jennison Associates just revealed a 5% stake in Enerpac Tool Group, a bullish sign for the stock.**
AI Summary
Jennison Associates LLC, a New York-based investment adviser, reported on February 8, 2024, that it beneficially owns 5.0% of Enerpac Tool Group Corp.'s Class A Common Stock as of December 31, 2023. This translates to 2,999,999 shares, valued at approximately $87.6 million based on Enerpac's closing price of $29.20 on December 29, 2023. This filing indicates Jennison Associates LLC is a significant institutional holder, which can provide stability and confidence to other investors in Enerpac Tool Group Corp.
Why It Matters
A substantial stake by an institutional investor like Jennison Associates LLC can signal confidence in Enerpac Tool Group's future performance, potentially attracting more investors and stabilizing the stock price.
Risk Assessment
Risk Level: low — This filing indicates an institutional investor has taken a significant position, which generally reduces risk by providing a vote of confidence in the company.
Analyst Insight
A smart investor would view this as a positive signal, potentially indicating institutional confidence in Enerpac Tool Group Corp. and might consider further research into the company's fundamentals.
Key Numbers
- 2,999,999 — Shares Beneficially Owned (Represents Jennison Associates LLC's total holding in Enerpac Tool Group Corp.)
- 5.0% — Percentage of Class A Common Stock (Indicates Jennison Associates LLC's significant ownership stake in Enerpac Tool Group Corp.)
- December 31, 2023 — Event Date (The specific date as of which Jennison Associates LLC's ownership was calculated for this filing.)
Key Players & Entities
- Jennison Associates LLC (company) — reporting person, investment adviser
- Enerpac Tool Group Corp. (company) — subject company, issuer of securities
- 2,999,999 (dollar_amount) — number of shares beneficially owned
- 5.0% (dollar_amount) — percentage of Class A Common Stock beneficially owned
- December 31, 2023 (person) — date of event requiring filing
- February 8, 2024 (person) — filing date
Forward-Looking Statements
- Enerpac Tool Group Corp. stock may experience increased investor confidence due to Jennison Associates LLC's significant stake. (Enerpac Tool Group Corp.) — medium confidence, target: Q2 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is Jennison Associates LLC, located at 466 Lexington Ave, New York, NY 10017, with IRS Identification #52-2069785 (formerly 13-2631108).
What is the name of the issuer whose securities are being reported?
The issuer is Enerpac Tool Group Corp., with its business address at N86 W12500 Westbrook Crossing, Menomonee Falls, WI 53051.
What percentage of Enerpac Tool Group Corp.'s Class A Common Stock does Jennison Associates LLC beneficially own?
Jennison Associates LLC beneficially owns 5.0% of Enerpac Tool Group Corp.'s Class A Common Stock as of December 31, 2023.
How many shares of Class A Common Stock does Jennison Associates LLC beneficially own?
Jennison Associates LLC beneficially owns 2,999,999 shares of Enerpac Tool Group Corp.'s Class A Common Stock.
What is the CUSIP number for the Class A Common Stock of Enerpac Tool Group Corp.?
The CUSIP number for Enerpac Tool Group Corp.'s Class A Common Stock is 292765104.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on February 8, 2024 by December 31, 2023 regarding ENERPAC TOOL GROUP CORP (EPAC).