Esco Technologies Inc. (ESE) Rating Increased to Hold at Zacks Investment Research
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 reaffirmed a “hold” rating and set 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 has an average rating of “Hold” and a consensus price target of $42.67.
Esco Technologies (NYSE:ESE) opened at 46.56 on Tuesday. Esco Technologies has a 1-year low of $31.50 and a 1-year high of $47.39. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 28.72 and a beta of 1.15. The company’s 50-day moving average is $45.70 and its 200 day moving average is $41.60.
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 Thomson Reuters’ 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 business earned $140.20 million during the quarter, compared to analysts’ expectations of $145.57 million. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts predict 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. Stockholders of record on Monday, October 3rd will be issued a $0.08 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.69%.
In other news, Director Larry W. Solley sold 4,500 shares of the 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 completion of the transaction, the director now owns 25,150 shares of the company’s stock, valued at $1,091,510. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of ESE. Norges Bank bought a new position in Esco Technologies during the fourth quarter worth approximately $9,022,000. Silvercrest Asset Management Group LLC boosted its position 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 worth $48,880,000 after buying an additional 138,639 shares during the period. Wellington Management Group LLP boosted 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 worth $70,815,000 after buying an additional 94,558 shares during the period. Nuveen Asset Management LLC bought a new position in Esco Technologies during the first quarter worth approximately $3,537,000. Finally, Dimensional Fund Advisors LP boosted its position in Esco Technologies by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,715,945 shares of the company’s stock worth $68,534,000 after buying an additional 84,949 shares during the period. 94.39% of the stock is owned by hedge funds and other institutional investors.
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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