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

Edgestream Partners L.P. bought a new position in ESAB Corporation (NYSE:ESAB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,339 shares of the company's stock, valued at approximately $2,136,000.

Several other large investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after acquiring an additional 90 shares in the last quarter. First Horizon Advisors Inc. grew its position in ESAB by 204.8% in the 1st quarter. First Horizon Advisors Inc. now owns 320 shares of the company's stock valued at $37,000 after buying an additional 215 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of ESAB in the fourth quarter worth about $47,000. Farther Finance Advisors LLC raised its position in shares of ESAB by 1,128.9% in the first quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock valued at $56,000 after purchasing an additional 429 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of ESAB by 323.8% in the 1st quarter. UMB Bank n.a. now owns 534 shares of the company's stock valued at $62,000 after purchasing an additional 408 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Stock Performance

Shares of NYSE:ESAB traded down $1.91 on Monday, hitting $128.08. 263,036 shares of the company were exchanged, compared to its average volume of 276,994. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 3.17 and a beta of 1.26. ESAB Corporation has a one year low of $88.54 and a one year high of $135.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.91. The company's 50 day moving average price is $124.57 and its two-hundred day moving average price is $121.69.

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

ESAB Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 3rd were paid a $0.10 dividend. This is a positive change from ESAB's previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Thursday, July 3rd. ESAB's dividend payout ratio is presently 9.01%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ESAB shares. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and increased their target price 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 objective on shares of ESAB in a report on Friday, May 2nd. Evercore ISI lifted their target price on shares of ESAB from $120.00 to $125.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Finally, Stifel Nicolaus increased their price target on shares of ESAB from $126.00 to $141.00 and gave the company a "hold" rating in a research report on Monday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, ESAB currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.89.

Insider Activity

In related news, insider Olivier Biebuyck sold 1,417 shares of the company's stock in a transaction 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 completion of the sale, the insider owned 14,989 shares in the company, valued at $1,965,807.35. This represents a 8.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rhonda L. Jordan sold 1,500 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $126.42, for a total transaction of $189,630.00. The disclosure for this sale can be found here. 7.30% of the stock is owned by corporate insiders.

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.