Bank of America Corp DE Sells 19,821 Shares of ESAB Corporation $ESAB

Key Points

• Bank of America reduced its ESAB stake by 11.6%, selling 19,821 shares and retaining 150,985 shares valued at approximately $14.6 million. Institutional investors collectively own 91.13% of the company.
• Analysts maintain a generally positive outlook, with seven Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $138.14, despite several recent target reductions.
• ESAB’s shares opened at $81.49, near the lower end of their 52-week range, after the company slightly missed quarterly EPS estimates ($1.33 versus $1.37) but exceeded revenue expectations with $807.6 million, up 12.9% year over year.

Bank of America Corp DE decreased its stake in ESAB Corporation (NYSE:ESAB - Free Report) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 150,985 shares of the company's stock after selling 19,821 shares during the quarter. Bank of America Corp DE owned 0.25% of ESAB worth $14,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESAB. Teacher Retirement System of Texas increased its stake in ESAB by 33.9% in the fourth quarter. Teacher Retirement System of Texas now owns 177,428 shares of the company's stock valued at $19,822,000 after acquiring an additional 44,877 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in ESAB by 37.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 959,101 shares of the company's stock worth $107,151,000 after purchasing an additional 262,850 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of ESAB by 6,787.0% in the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company's stock valued at $117,730,000 after purchasing an additional 1,038,475 shares in the last quarter. Schwartz Investment Counsel Inc. acquired a new stake in shares of ESAB in the 4th quarter valued at $8,938,000. Finally, William Blair Investment Management LLC bought a new position in shares of ESAB in the 4th quarter valued at $22,905,000. Institutional investors own 91.13% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ESAB shares. Oppenheimer lowered their price objective on shares of ESAB from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Tuesday, July 21st. Stifel Nicolaus cut their target price on shares of ESAB from $141.00 to $137.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. Roth Capital boosted their target price on shares of ESAB from $142.00 to $151.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Weiss Ratings cut shares of ESAB from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 11th. Finally, DA Davidson began coverage on shares of ESAB in a report on Monday, June 15th. They set a "buy" rating and a $130.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $138.14.

ESAB Price Performance

Shares of NYSE ESAB opened at $81.49 on Friday. The stock has a fifty day moving average of $90.70 and a 200-day moving average of $99.69. ESAB Corporation has a fifty-two week low of $77.34 and a fifty-two week high of $137.42. The stock has a market cap of $5.07 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.96.

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

Insiders Place Their Bets

In other news, Director Rhonda L. Jordan sold 1,000 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $95,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.20% of the stock is currently owned by company insiders.

About ESAB

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company's products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.

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