Canada Pension Plan Investment Board Has $480,000 Stock Position in ESAB Co. (NYSE:ESAB)

Canada Pension Plan Investment Board raised its stake in ESAB Co. (NYSE:ESAB - Free Report) by 900.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,000 shares of the company's stock after acquiring an additional 3,600 shares during the period. Canada Pension Plan Investment Board's holdings in ESAB were worth $480,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after purchasing an additional 90 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in ESAB in the fourth quarter valued at about $34,000. Trust Co. of Vermont grew its position in ESAB by 871.0% in the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company's stock valued at $36,000 after acquiring an additional 270 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in ESAB during the fourth quarter worth about $36,000. Finally, GAMMA Investing LLC lifted its holdings in shares of ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $66,000 after acquiring an additional 139 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Trading Up 1.2 %

Shares of ESAB traded up $1.37 during mid-day trading on Wednesday, reaching $119.87. 384,919 shares of the company were exchanged, compared to its average volume of 279,194. The business has a 50 day simple moving average of $117.94 and a two-hundred day simple moving average of $121.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. The stock has a market capitalization of $7.27 billion, a PE ratio of 27.75, a PEG ratio of 2.01 and a beta of 1.37. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The firm had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. On average, analysts predict that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, April 4th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB's payout ratio is currently 7.41%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ESAB shares. Stifel Nicolaus decreased their price target on shares of ESAB from $125.00 to $109.00 and set a "hold" rating on the stock in a report on Monday, April 14th. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $123.00 to $147.00 in a research note on Tuesday, April 1st. Evercore ISI upgraded ESAB from an "underperform" rating to an "inline" rating and dropped their price target for the company from $122.00 to $120.00 in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price objective on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, ESAB currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.75.

ESAB Company Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.