California State Teachers Retirement System Has $6.25 Million Stock Holdings in ESAB Corporation $ESAB

Key Points

• California State Teachers Retirement System reduced its ESAB stake by 5.9% in the second quarter, retaining 63,366 shares valued at approximately $6.25 million. Institutional investors and hedge funds collectively own 91.13% of the company.
• Analysts remain broadly positive, with seven Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $135.57.
• ESAB reported quarterly revenue of $807.63 million, up 12.9% year over year, though earnings of $1.33 per share fell short of estimates. The company also declared a quarterly dividend of $0.12 per share, representing a 0.7% yield.

California State Teachers Retirement System lowered its stake in ESAB Corporation (NYSE:ESAB - Free Report) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,366 shares of the company's stock after selling 3,992 shares during the period. California State Teachers Retirement System owned 0.10% of ESAB worth $6,249,789 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in ESAB in the second quarter worth approximately $524,533,000. Bank of New York Mellon Corp purchased a new stake in ESAB during the 2nd quarter valued at $94,210,000. Norges Bank bought a new stake in ESAB during the 4th quarter valued at approximately $85,692,000. Capital Research Global Investors purchased a new position in shares of ESAB during the 4th quarter worth about $69,099,000. Finally, TimesSquare Capital Management LLC bought a new position in shares of ESAB in the 2nd quarter worth $56,678,000. 91.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ESAB. Oppenheimer decreased 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 cut ESAB from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Roth Capital reissued a "buy" rating and set a $133.00 price objective (down from $151.00) on shares of ESAB in a report on Tuesday. DA Davidson initiated coverage on ESAB in a research report on Monday, June 15th. They issued a "buy" rating and a $130.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price on ESAB from $141.00 to $137.00 and set a "buy" rating on the stock in a research note on Monday, July 20th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.57.

ESAB Stock Performance

Shares of ESAB stock traded up $0.20 during trading hours on Tuesday, reaching $67.72. The company's stock had a trading volume of 500,705 shares, compared to its average volume of 651,337. The company's 50 day simple moving average is $83.08 and its 200 day simple moving average is $93.34. The stock has a market cap of $4.21 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 1.38 and a beta of 1.17. ESAB Corporation has a one year low of $66.67 and a one year high of $137.42. 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 released its earnings results on Thursday, August 6th. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.04). ESAB had a net margin of 5.75% and a return on equity of 14.48%. The company had revenue of $807.63 million during the quarter, compared to the consensus estimate of $755.64 million. The firm's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 EPS. ESAB has set its FY 2026 guidance at 5.400-5.500 EPS. As a group, analysts expect that ESAB Corporation will post 5.46 EPS for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Friday, October 2nd will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 2nd. ESAB's payout ratio is presently 17.20%.

Insider Activity

In other ESAB news, Director Rhonda L. Jordan sold 1,000 shares of ESAB stock in a transaction on Friday, August 7th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the director directly owned 1,000 shares in the company, valued at approximately $95,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 7.20% of the stock is currently owned by corporate insiders.

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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