ESAB Co. (NYSE:ESAB) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its holdings in shares of ESAB Co. (NYSE:ESAB - Free Report) by 30.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,044 shares of the company's stock after selling 6,484 shares during the quarter. Voya Investment Management LLC's holdings in ESAB were worth $1,804,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after acquiring an additional 90 shares during the period. ORG Wealth Partners LLC bought a new stake in ESAB in the fourth quarter worth about $34,000. Trust Co. of Vermont lifted its holdings in ESAB by 871.0% in the 4th 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 shares of ESAB in the 4th quarter worth approximately $36,000. Finally, GAMMA Investing LLC increased 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 valued at $66,000 after buying an additional 139 shares in the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Stock Up 4.9 %

ESAB stock opened at $123.99 on Monday. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 28.70, a P/E/G ratio of 2.01 and a beta of 1.37. The firm has a fifty day moving average price of $117.88 and a two-hundred day moving average price of $121.64. ESAB Co. has a fifty-two week low of $88.54 and a fifty-two week high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The company had revenue of $678.14 million for the quarter, compared to the consensus estimate of $633.66 million. During the same quarter in the previous year, the firm posted $1.20 EPS. The business's revenue was down 1.7% compared to the same quarter last year. As a group, analysts forecast that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, April 4th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date was Friday, April 4th. ESAB's payout ratio is 7.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ESAB shares. UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $123.00 to $147.00 in a report on Tuesday, April 1st. Stifel Nicolaus raised their target price on shares of ESAB from $109.00 to $126.00 and gave the stock a "hold" rating in a report on Friday. Evercore ISI upgraded shares of ESAB from an "underperform" rating to an "inline" rating and reduced their price target for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, ESAB has an average rating of "Moderate Buy" and a consensus price target of $135.88.

About ESAB

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.

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