18,339 Shares in ESAB Corporation (NYSE:ESAB) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in ESAB Corporation (NYSE:ESAB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 18,339 shares of the company's stock, valued at approximately $2,136,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ESAB. Price T Rowe Associates Inc. MD grew its holdings in shares of ESAB by 3.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,538,081 shares of the company's stock worth $904,118,000 after acquiring an additional 225,345 shares during the period. Vanguard Group Inc. grew its stake in ESAB by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 5,546,104 shares of the company's stock worth $665,200,000 after purchasing an additional 20,741 shares in the last quarter. JPMorgan Chase & Co. boosted its position in ESAB by 15.9% during the 4th quarter. JPMorgan Chase & Co. now owns 2,202,568 shares of the company's stock valued at $264,176,000 after acquiring an additional 302,453 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of ESAB by 17.9% during the 4th quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock valued at $251,589,000 after purchasing an additional 318,018 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of ESAB by 1.7% during the 4th quarter. Neuberger Berman Group LLC now owns 1,888,685 shares of the company's stock valued at $226,529,000 after buying an additional 31,248 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.

Insider Buying and Selling at ESAB

In other ESAB news, Director Rhonda L. Jordan sold 1,500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $126.42, for a total value of $189,630.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Olivier Biebuyck sold 1,417 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $131.15, for a total value of $185,839.55. Following the transaction, the insider owned 14,989 shares of the company's stock, valued at approximately $1,965,807.35. This represents a 8.64% decrease in their position. The disclosure for this sale can be found here. 7.30% of the stock is currently owned by company insiders.

ESAB Stock Performance

NYSE ESAB opened at $129.78 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.24 and a debt-to-equity ratio of 0.54. The firm's fifty day moving average price is $124.53 and its two-hundred day moving average price is $121.59. ESAB Corporation has a 1 year low of $88.54 and a 1 year high of $135.97. The firm has a market capitalization of $7.87 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 3.05 and a beta of 1.26.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $678.14 million during the quarter, compared to analysts' expectations of $633.66 million. ESAB had a net margin of 9.98% and a return on equity of 16.98%. ESAB's revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 earnings per share. As a group, research analysts anticipate that ESAB Corporation will post 5.16 EPS for the current year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, July 3rd. This is a boost from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.31%. ESAB's dividend payout ratio (DPR) is 9.01%.

Analysts Set New Price Targets

ESAB has been the topic of several analyst reports. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and lifted their price target for the company from $123.00 to $147.00 in a research report on Tuesday, April 1st. Robert W. Baird set a $143.00 price target on shares of ESAB in a research report on Friday, May 2nd. Evercore ISI increased their price target on shares of ESAB from $120.00 to $125.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Finally, Stifel Nicolaus boosted their target price on shares of ESAB from $109.00 to $126.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $137.22.

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.

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