Esco Technologies Inc. (ESE) Sees Unusually-High Trading Volume
Shares of Esco Technologies Inc. (NYSE:ESE) saw an uptick in trading volume on Tuesday . 239,119 shares changed hands during mid-day trading, an increase of 188% from the previous session’s volume of 82,989 shares.The stock last traded at $46.10 and had previously closed at $45.93.
Several brokerages have recently weighed in on ESE. 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. Zacks Investment Research lowered shares of Esco Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Esco Technologies has a consensus rating of “Hold” and a consensus target price of $42.67.
The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 28.44 and a beta of 1.26. The company’s 50-day moving average is $44.87 and its 200-day moving average is $40.90.
Esco Technologies (NYSE:ESE) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.06. The business earned $140.20 million during the quarter, compared to analyst estimates of $145.57 million. Esco Technologies had a net margin of 7.42% and a return on equity of 8.10%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts anticipate that Esco Technologies Inc. will post $2.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a $0.08 dividend. The ex-dividend date of this dividend 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 company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $43.40, for a total value of $195,300.00. Following the completion of the sale, the director now owns 25,150 shares in the company, valued at approximately $1,091,510. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. raised its stake in Esco Technologies by 7.2% in the second quarter. Macquarie Group Ltd. now owns 606,225 shares of the company’s stock valued at $24,213,000 after buying an additional 40,818 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in Esco Technologies during the second quarter valued at about $201,000. Schwab Charles Investment Management Inc. raised its stake in Esco Technologies by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 124,989 shares of the company’s stock valued at $4,993,000 after buying an additional 4,157 shares during the last quarter. Arizona State Retirement System raised its stake in Esco Technologies by 1.5% in the second quarter. Arizona State Retirement System now owns 13,353 shares of the company’s stock valued at $533,000 after buying an additional 200 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its stake in 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. Hedge funds and other institutional investors 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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