PineBridge Investments L.P. boosted its stake in shares of Esco Technologies Inc. (NYSE:ESE) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 3,265 shares of the company’s stock after buying an additional 110 shares during the period. PineBridge Investments L.P.’s holdings in Esco Technologies were worth $131,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC increased its position in Esco Technologies by 13.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,085,180 shares of the company’s stock valued at $42,301,000 after buying an additional 125,617 shares in the last quarter. Zions Bancorporation purchased a new position in Esco Technologies during the first quarter valued at $778,000. Envestnet Asset Management Inc. increased its position in Esco Technologies by 26.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,554 shares of the company’s stock valued at $100,000 after buying an additional 534 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Esco Technologies during the first quarter valued at $3,537,000. Finally, Wellington Management Group LLP increased its position in 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 in the last quarter. 94.39% of the stock is owned by institutional investors.
Esco Technologies Inc. (NYSE:ESE) opened at 46.07 on Tuesday. The stock’s 50 day moving average price is $45.62 and its 200-day moving average price is $41.51. Esco Technologies Inc. has a 12 month low of $31.50 and a 12 month high of $47.39. The firm has a market capitalization of $1.18 billion, a P/E ratio of 28.42 and a beta of 1.15.
Esco Technologies (NYSE:ESE) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $140.20 million for the quarter, compared to analyst estimates of $145.57 million. Esco Technologies had a return on equity of 8.10% and a net margin of 7.42%. The company’s revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that Esco Technologies Inc. will post $2.00 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.32 annualized dividend and a yield of 0.69%.
Several equities analysts have weighed in on the company. Canaccord Genuity reaffirmed a “hold” rating and issued a $40.00 target price on shares of Esco Technologies in a research report on Thursday, August 4th. Zacks Investment Research downgraded Esco Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 4th. One 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 stock. Esco Technologies currently has an average rating of “Hold” and a consensus price target of $42.67.
In related news, Director Larry W. Solley sold 4,500 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $43.40, for a total transaction of $195,300.00. Following the transaction, the director now directly owns 25,150 shares in the company, valued at $1,091,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.40% 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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