Public Sector Pension Investment Board Increases Position in ESCO Technologies Inc. (NYSE:ESE)

Key Points

• The Public Sector Pension Investment Board increased its stake in ESCO Technologies Inc. by 27.6% during the first quarter, owning approximately $13.02 million worth of shares.
• Analysts have mixed views on ESCO Technologies, with Benchmark raising its price target to $200.00 while Wall Street Zen downgraded the stock from "buy" to "hold."
• ESCO Technologies recently announced a $0.08 quarterly dividend to be paid on October 16th, representing a yield of 0.2% and a payout ratio of 7.21%.

Public Sector Pension Investment Board increased its holdings in shares of ESCO Technologies Inc. (NYSE:ESE - Free Report) by 27.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,850 shares of the scientific and technical instruments company's stock after buying an additional 17,711 shares during the period. Public Sector Pension Investment Board owned about 0.32% of ESCO Technologies worth $13,024,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC acquired a new position in ESCO Technologies during the 1st quarter worth approximately $35,000. CX Institutional acquired a new position in ESCO Technologies during the 1st quarter worth approximately $36,000. TD Private Client Wealth LLC acquired a new position in ESCO Technologies during the 1st quarter worth approximately $38,000. Sterling Capital Management LLC grew its holdings in ESCO Technologies by 627.1% during the 4th quarter. Sterling Capital Management LLC now owns 429 shares of the scientific and technical instruments company's stock worth $57,000 after acquiring an additional 370 shares in the last quarter. Finally, CWM LLC grew its holdings in ESCO Technologies by 32.2% during the 1st quarter. CWM LLC now owns 402 shares of the scientific and technical instruments company's stock worth $64,000 after acquiring an additional 98 shares in the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ESE. Benchmark upped their target price 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 cut shares of ESCO Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th.

ESCO Technologies Stock Performance

ESE stock traded down $3.70 on Friday, hitting $184.47. The company's stock had a trading volume of 229,889 shares, compared to its average volume of 180,943. The firm has a 50 day moving average of $190.43 and a two-hundred day moving average of $171.28. ESCO Technologies Inc. has a 1 year low of $113.30 and a 1 year high of $201.72. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 41.55 and a beta of 1.23. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38.

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 analysts' expectations of $320.23 million. During the same quarter last year, the company earned $1.16 EPS. The firm's revenue for the quarter was up 13.6% compared to the same quarter last year. Equities analysts predict that ESCO Technologies Inc. will post 5.65 EPS for the current fiscal year.

ESCO Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, October 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. ESCO Technologies's dividend payout ratio is presently 7.21%.

ESCO Technologies Company 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.