Nuveen LLC Acquires New Holdings in ESCO Technologies Inc. (NYSE:ESE)

Key Points

• Nuveen LLC has acquired a new stake in ESCO Technologies Inc., buying 566,030 shares valued at approximately $90 million, which represents about 2.19% of the company.
• ESCO Technologies recently reported $1.60 EPS, missing estimates, with quarterly revenue of $296.34 million, below analyst expectations of $320.23 million, though the revenue reflects a 13.6% year-over-year growth.
• The company declared a quarterly dividend of $0.08 per share, with an annualized yield of 0.2%, scheduled to be paid on October 16th to investors of record on October 2nd.

Nuveen LLC purchased a new position in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 566,030 shares of the scientific and technical instruments company's stock, valued at approximately $90,067,000. Nuveen LLC owned about 2.19% of ESCO Technologies as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its stake in ESCO Technologies by 4.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,047 shares of the scientific and technical instruments company's stock valued at $326,000 after buying an additional 93 shares during the last quarter. New York State Teachers Retirement System grew its stake in ESCO Technologies by 0.9% in the 1st quarter. New York State Teachers Retirement System now owns 11,617 shares of the scientific and technical instruments company's stock valued at $1,848,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC grew its stake in ESCO Technologies by 18.0% in the 1st quarter. GAMMA Investing LLC now owns 674 shares of the scientific and technical instruments company's stock valued at $107,000 after buying an additional 103 shares during the last quarter. CX Institutional acquired a new position in ESCO Technologies in the 1st quarter valued at $36,000. Finally, Johnson Investment Counsel Inc. acquired a new position in ESCO Technologies in the 1st quarter valued at $289,000. Institutional investors and hedge funds own 95.70% of the company's stock.

Analyst Upgrades and Downgrades

ESE has been the subject of a number of research reports. Benchmark increased their price target on shares of ESCO Technologies from $190.00 to $200.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen downgraded shares of ESCO Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th.

ESCO Technologies Stock Down 2.0%

Shares of ESE stock traded down $3.70 during trading on Friday, reaching $184.47. The company's stock had a trading volume of 229,889 shares, compared to its average volume of 180,943. The business has a fifty day moving average price of $190.43 and a 200-day moving average price of $171.28. The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 0.38. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 41.55 and a beta of 1.23. ESCO Technologies Inc. has a one year low of $113.30 and a one year high of $201.72.

ESCO Technologies (NYSE:ESE - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The scientific and technical instruments company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.05). ESCO Technologies had a net margin of 10.37% and a return on equity of 11.19%. The business had revenue of $296.34 million during the quarter, compared to analyst estimates of $320.23 million. During the same quarter last year, the company posted $1.16 earnings per share. The company's revenue was up 13.6% on a year-over-year basis. Analysts anticipate that ESCO Technologies Inc. will post 5.65 earnings per share for the current year.

ESCO Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Thursday, October 2nd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.2%. ESCO Technologies's dividend payout ratio is 7.21%.

ESCO Technologies Profile

ESCO Technologies Inc produces and supplies engineered products and systems for industrial and commercial markets worldwide. It operates through three segments: Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement. The Aerospace & Defense segment designs and manufactures filtration products, including hydraulic filter elements and fluid control devices used in commercial aerospace applications; filter mechanisms used in micro-propulsion devices for satellites; and custom designed filters for manned aircraft and submarines.