22,255 Shares in ESAB Corporation $ESAB Acquired by Tidal Investments LLC

Key Points

• Tidal Investments acquired 22,255 ESAB shares worth approximately $2.2 million in the second quarter. Institutional investors and hedge funds collectively own 91.13% of the company.
• Analysts maintain a generally positive outlook, with seven Buy ratings and one Hold rating; the consensus price target is $135.57, despite several recent target reductions.
• ESAB’s latest quarter delivered $807.6 million in revenue, up 12.9% year over year, but earnings per share of $1.33 fell short of estimates. The company also declared a quarterly dividend of $0.12, representing a 0.7% annualized yield.

Tidal Investments LLC purchased a new stake in ESAB Corporation (NYSE:ESAB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 22,255 shares of the company's stock, valued at approximately $2,195,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its stake in ESAB by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company's stock worth $894,457,000 after buying an additional 45,841 shares during the period. BlackRock Inc. purchased a new position in shares of ESAB in the 2nd quarter valued at $524,533,000. Geode Capital Management LLC raised its stake in shares of ESAB by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,318,269 shares of the company's stock valued at $147,300,000 after acquiring an additional 16,466 shares during the period. Bessemer Group Inc. lifted its holdings in shares of ESAB by 16.3% during the 1st quarter. Bessemer Group Inc. now owns 1,225,702 shares of the company's stock valued at $118,475,000 after acquiring an additional 171,926 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of ESAB by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,215,909 shares of the company's stock valued at $117,500,000 after acquiring an additional 34,383 shares in the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ESAB

In related news, Director Rhonda L. Jordan sold 1,000 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the director owned 1,000 shares of the company's stock, valued at approximately $95,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 7.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ESAB. DA Davidson started coverage on shares of ESAB in a research report on Monday, June 15th. They set a "buy" rating and a $130.00 price target for the company. Oppenheimer reduced their price objective on ESAB from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 21st. Weiss Ratings downgraded ESAB from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Roth Capital reaffirmed a "buy" rating and issued a $133.00 target price (down from $151.00) on shares of ESAB in a research report on Tuesday. Finally, Stifel Nicolaus lowered their target price on ESAB from $141.00 to $137.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $135.57.

ESAB Price Performance

ESAB opened at $66.64 on Thursday. ESAB Corporation has a twelve month low of $66.18 and a twelve month high of $137.42. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 1.31 and a beta of 1.17. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99. The company has a fifty day simple moving average of $82.14 and a 200 day simple moving average of $92.53.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.33 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.04). The firm had revenue of $807.63 million during the quarter, compared to analyst estimates of $755.64 million. ESAB had a return on equity of 14.48% and a net margin of 5.75%.The business's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 EPS. ESAB has set its FY 2026 guidance at 5.400-5.500 EPS. Equities research analysts expect that ESAB Corporation will post 5.46 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Friday, October 2nd will be paid a $0.12 dividend. The ex-dividend date is Friday, October 2nd. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. ESAB's payout ratio is 17.20%.

ESAB Company Profile

ESAB Corporation NYSE: ESAB is a global provider of welding and cutting technologies. The company develops and manufactures welding equipment, welding consumables, cutting systems, automation solutions and related accessories used in industrial, commercial and maintenance applications.

Its product portfolio includes arc-welding equipment, electrodes and welding wires, gas and plasma cutting systems, robotic and automated welding solutions, and digital tools designed to improve fabrication processes.

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