ESAB Co. (NYSE:ESAB) Shares Purchased by Barclays PLC

Barclays PLC boosted its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 51.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,627 shares of the company's stock after buying an additional 16,114 shares during the period. Barclays PLC owned 0.08% of ESAB worth $5,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ESAB. Norges Bank acquired a new stake in shares of ESAB during the fourth quarter worth $81,199,000. Raymond James Financial Inc. acquired a new stake in ESAB during the 4th quarter worth about $52,281,000. TimesSquare Capital Management LLC grew its stake in ESAB by 104.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 839,685 shares of the company's stock valued at $100,712,000 after purchasing an additional 428,770 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of ESAB by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock valued at $202,001,000 after purchasing an additional 337,983 shares during the period. Finally, Invesco Ltd. raised its stake in shares of ESAB by 17.9% in the fourth quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock worth $251,589,000 after purchasing an additional 318,018 shares during the last quarter. Institutional investors own 91.13% of the company's stock.

ESAB Price Performance

NYSE:ESAB traded up $1.56 during trading hours on Thursday, reaching $121.68. 78,256 shares of the company were exchanged, compared to its average volume of 278,422. The firm has a market cap of $7.38 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. The stock's 50-day moving average is $117.94 and its 200-day moving average is $121.34. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. ESAB Co. has a twelve month low of $88.54 and a twelve month high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.06. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, April 4th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, April 4th. ESAB's dividend payout ratio (DPR) is presently 7.41%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ESAB. Stifel Nicolaus dropped their price objective 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. JPMorgan Chase & Co. upped their price target on shares of ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and dropped their target price for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Finally, UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $123.00 to $147.00 in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.