California State Teachers Retirement System Has $616.42 Million Stock Position in ESAB Corporation $ESAB

Key Points

• California State Teachers Retirement System increased its ESAB stake by 9,178.5% to 6.25 million shares, worth approximately $616.4 million and representing 10.05% of the company. Institutional investors and hedge funds collectively own 91.13% of ESAB.
• Analysts remain broadly positive, with seven Buy ratings and one Hold rating. ESAB has a “Moderate Buy” consensus rating and an average price target of $138.14, despite recent target reductions from some firms.
• ESAB’s latest quarterly revenue rose 12.9% year over year to $807.6 million, although earnings of $1.33 per share fell short of estimates. The company declared a quarterly dividend of $0.12, equivalent to a 0.7% yield.

California State Teachers Retirement System raised its position in ESAB Corporation (NYSE:ESAB - Free Report) by 9,178.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,249,789 shares of the company's stock after purchasing an additional 6,182,431 shares during the quarter. California State Teachers Retirement System owned approximately 10.05% of ESAB worth $616,417,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. HB Wealth Management LLC lifted its stake in ESAB by 29.4% in the second quarter. HB Wealth Management LLC now owns 3,207 shares of the company's stock valued at $316,000 after acquiring an additional 728 shares during the last quarter. AlphaGrep UK Ltd acquired a new stake in shares of ESAB in the 2nd quarter valued at $247,000. Nykredit A S bought a new stake in ESAB in the second quarter worth $197,000. IMC Chicago LLC bought a new stake in ESAB in the second quarter worth $1,627,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in ESAB by 638.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,528 shares of the company's stock worth $151,000 after buying an additional 1,321 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ESAB

In related news, Director Rhonda L. Jordan sold 1,000 shares of ESAB stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the director directly owned 1,000 shares of the company's stock, valued at $95,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

ESAB Stock Performance

ESAB opened at $67.44 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.96 and a debt-to-equity ratio of 0.99. The stock's 50 day moving average price is $83.08 and its two-hundred day moving average price is $93.34. The firm has a market capitalization of $4.19 billion, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 1.38 and a beta of 1.17. ESAB Corporation has a 12-month low of $67.21 and a 12-month high of $137.42.

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

ESAB Dividend Announcement

The business also recently announced 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. This represents a $0.48 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, October 2nd. ESAB's dividend payout ratio (DPR) is presently 17.20%.

About ESAB

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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