Esco Technologies Inc. (ESE) Upgraded by Zacks Investment Research to Hold
Esco Technologies Inc. (NYSE:ESE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Nexus Energy Software, a subsidiary of ESCO Technologies Inc., enables the vision of what energy information can accomplish for the twenty first Century Utility by transforming both energy company and customer views of energy. Nexus’ leading, proven-at-scale solutions support customer interactions via self-service and the contact center, while enhancing operating functions with analytic applications that integrate meter, customer, and asset data. Nexus’ ENERGYprism, Energy Vision and Nexus MDMS product lines are in use at over eighty five energy companies worldwide, supporting millions of interactions and transactions each year, “
Separately, Canaccord Genuity reissued a “hold” rating and issued a $40.00 price objective on shares of Esco Technologies in a research report on Thursday, August 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Esco Technologies presently has a consensus rating of “Hold” and an average target price of $42.67.
Shares of Esco Technologies (NYSE:ESE) traded down 0.09% during trading on Tuesday, reaching $46.03. 51,765 shares of the company were exchanged. The firm has a market capitalization of $1.18 billion, a PE ratio of 28.40 and a beta of 1.15. Esco Technologies has a 1-year low of $31.50 and a 1-year high of $47.39. The company’s 50-day moving average is $45.65 and its 200 day moving average is $41.56.
Esco Technologies (NYSE:ESE) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.06. Esco Technologies had a net margin of 7.42% and a return on equity of 8.10%. The company had revenue of $140.20 million for the quarter, compared to analyst estimates of $145.57 million. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts expect that Esco Technologies will post $2.00 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be paid a $0.08 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a yield of 0.70%.
In other Esco Technologies news, Director Larry W. Solley sold 4,500 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Silvercrest Asset Management Group LLC increased its position in shares of 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 worth $42,301,000 after buying an additional 125,617 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Esco Technologies by 2.8% in the first quarter. Prudential Financial Inc. now owns 61,823 shares of the company’s stock worth $2,410,000 after buying an additional 1,700 shares in the last quarter. Norges Bank bought a new position in shares of Esco Technologies during the fourth quarter worth approximately $9,022,000. Blair William & Co. IL increased its position in shares of Esco Technologies by 0.9% in the second quarter. Blair William & Co. IL now owns 8,090 shares of the company’s stock worth $323,000 after buying an additional 70 shares in the last quarter. Finally, Wellington Management Group LLP increased its position 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 worth $70,815,000 after buying an additional 94,558 shares in the last quarter. Institutional investors and hedge funds own 94.39% of the company’s stock.
About Esco Technologies
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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