Esco Technologies Inc. (ESE) Reaches New 12-Month High at $46.80
Esco Technologies Inc. (NYSE:ESE) shares reached a new 52-week high on Wednesday . The stock traded as high as $46.80 and last traded at $46.39, with a volume of 22,044 shares trading hands. The stock had previously closed at $46.10.
Several research analysts recently weighed in on the company. Zacks Investment Research lowered Esco Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 4th. Canaccord Genuity restated a “hold” rating and issued a $40.00 target price on shares of Esco Technologies in a research note on Thursday, August 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Esco Technologies presently has an average rating of “Hold” and a consensus price target of $42.67.
The company’s 50-day moving average price is $44.87 and its 200 day moving average price is $40.90. The stock has a market cap of $1.20 billion, a PE ratio of 28.72 and a beta of 1.26.
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Esco Technologies (NYSE:ESE) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. Esco Technologies had a return on equity of 8.10% and a net margin of 7.42%. The business had revenue of $140.20 million for the quarter, compared to analyst estimates of $145.57 million. Esco Technologies’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts forecast that Esco Technologies Inc. will post $2.00 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be given a $0.08 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.32 annualized dividend and a dividend yield of 0.69%.
In other news, Director Larry W. Solley sold 4,500 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $43.40, for a total value of $195,300.00. Following the transaction, the director now directly owns 25,150 shares in the company, valued at approximately $1,091,510. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Esco Technologies during the fourth quarter valued at about $9,022,000. Silvercrest Asset Management Group LLC increased its stake in shares of Esco Technologies by 12.8% in the second quarter. Silvercrest Asset Management Group LLC now owns 1,223,819 shares of the company’s stock valued at $48,880,000 after buying an additional 138,639 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Esco Technologies by 5.5% in the first quarter. Wellington Management Group LLP now owns 1,816,704 shares of the company’s stock valued at $70,815,000 after buying an additional 94,558 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Esco Technologies during the first quarter valued at approximately $3,537,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Esco Technologies by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,715,945 shares of the company’s stock valued at $68,534,000 after buying an additional 84,949 shares during the last quarter. Institutional investors and hedge funds own 94.39% of the company’s stock.
Esco Technologies Company Profile
ESCO Technologies Inc is engaged in the production of engineered products and systems. The Company’s products are sold around the world for utility, industrial, aerospace and commercial applications. It conducts its business in three segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test) and Utility Solutions Group (USG).
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