Congress Asset Management Co. MA raised its position in shares of ESCO Technologies Inc. (NYSE:ESE) by 141.8% during the first quarter, Holdings Channel reports. The institutional investor owned 25,029 shares of the scientific and technical instruments company’s stock after buying an additional 14,676 shares during the period. Congress Asset Management Co. MA owned 0.10% of ESCO Technologies worth $1,454,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. LS Investment Advisors LLC increased its position in shares of ESCO Technologies by 96.9% in the first quarter. LS Investment Advisors LLC now owns 1,900 shares of the scientific and technical instruments company’s stock worth $110,000 after buying an additional 935 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of ESCO Technologies during the first quarter worth about $128,000. Envestnet Asset Management Inc. increased its position in shares of ESCO Technologies by 6.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,641 shares of the scientific and technical instruments company’s stock worth $149,000 after buying an additional 150 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of ESCO Technologies by 2.2% in the first quarter. State of Alaska Department of Revenue now owns 2,840 shares of the scientific and technical instruments company’s stock worth $165,000 after buying an additional 60 shares in the last quarter. Finally, Banced Corp acquired a new position in shares of ESCO Technologies during the first quarter worth about $203,000. Institutional investors own 92.59% of the company’s stock.
ESCO Technologies Inc. (NYSE:ESE) traded down 0.27% during mid-day trading on Friday, reaching $55.75. The company’s stock had a trading volume of 133,798 shares. ESCO Technologies Inc. has a one year low of $38.36 and a one year high of $60.95. The firm’s 50 day moving average is $57.78 and its 200-day moving average is $55.93. The stock has a market cap of $1.44 billion, a P/E ratio of 28.74 and a beta of 1.09.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 19th. Investors of record on Wednesday, July 5th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, June 30th. ESCO Technologies’s dividend payout ratio (DPR) is currently 17.49%.
Separately, Stephens set a $62.00 price target on ESCO Technologies and gave the company a “buy” rating in a report on Wednesday, February 8th.
In related news, Director Larry W. Solley sold 3,600 shares of the stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $54.76, for a total value of $197,136.00. Following the sale, the director now directly owns 23,350 shares of the company’s stock, valued at approximately $1,278,646. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.
About ESCO Technologies
ESCO Technologies Inc (ESCO) is a producer of engineered products and systems sold to customers for utility, industrial, aerospace and commercial applications. The Company operates through four segments: Filtration/Fluid Flow (Filtration), RF Shielding and Test (Test), Utility Solutions Group (USG) and Technical Packaging.
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