Invesco Ltd. Has $251.59 Million Stock Position in ESAB Co. (NYSE:ESAB)

Invesco Ltd. grew its position in shares of ESAB Co. (NYSE:ESAB - Free Report) by 17.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,097,624 shares of the company's stock after buying an additional 318,018 shares during the quarter. Invesco Ltd. owned approximately 3.47% of ESAB worth $251,589,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake 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 worth $202,001,000 after acquiring an additional 337,983 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in ESAB in the 4th quarter valued at $36,000. Advantage Alpha Capital Partners LP increased its stake in shares of ESAB by 8.5% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 32,775 shares of the company's stock valued at $3,931,000 after buying an additional 2,571 shares during the period. Atria Investments Inc raised its position in shares of ESAB by 30.1% during the fourth quarter. Atria Investments Inc now owns 9,279 shares of the company's stock worth $1,113,000 after acquiring an additional 2,147 shares during the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in ESAB in the fourth quarter valued at about $254,000. Institutional investors and hedge funds own 91.13% of the company's stock.

Analysts Set New Price Targets

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

ESAB Stock Down 0.4 %

ESAB stock traded down $0.49 during mid-day trading on Wednesday, hitting $115.07. 26,470 shares of the company were exchanged, compared to its average volume of 275,773. The firm has a market cap of $6.98 billion, a P/E ratio of 26.64, a P/E/G ratio of 2.01 and a beta of 1.37. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97. 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 firm's 50 day simple moving average is $119.94 and its 200 day simple moving average is $120.55.

ESAB (NYSE:ESAB - Get Free Report) last released its 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. The firm had revenue of $633.20 million during the quarter, compared to analysts' expectations of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. On average, sell-side analysts predict that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, April 4th. ESAB's dividend payout ratio (DPR) is currently 7.41%.

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.