Defender Capital LLC. Acquires New Stake in ESAB Corporation $ESAB

Key Points

• Defender Capital LLC acquired a new stake in ESAB Corporation, buying 35,593 shares worth about $3.98 million, which represents roughly 0.06% of ESAB and is the fund's 15th-largest holding (≈1.3% of its portfolio).
• ESAB CEO Shyam Kambeyanda sold 59,404 shares at an average price of $123.79 (≈$7.35 million), cutting his stake by 37.3% to 99,864 shares; company insiders now own 7.3% of the stock.
• Analyst sentiment is mildly positive with a consensus rating of "Moderate Buy" (six Buys, three Holds) and a consensus target of $145.25, supported by a recent quarterly EPS beat ($1.36 vs. $1.34) and 7.5% revenue growth year-over-year.

Defender Capital LLC. acquired a new stake in ESAB Corporation (NYSE:ESAB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,593 shares of the company's stock, valued at approximately $3,977,000. ESAB accounts for approximately 1.3% of Defender Capital LLC.'s holdings, making the stock its 15th biggest holding. Defender Capital LLC. owned about 0.06% of ESAB as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ESAB. Thrivent Financial for Lutherans boosted its holdings in shares of ESAB by 0.7% in the second quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company's stock valued at $1,617,000 after acquiring an additional 95 shares in the last quarter. Xponance Inc. raised its holdings in ESAB by 1.6% during the third quarter. Xponance Inc. now owns 6,488 shares of the company's stock worth $725,000 after purchasing an additional 102 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in ESAB by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company's stock valued at $2,191,000 after purchasing an additional 107 shares during the period. Coldstream Capital Management Inc. lifted its position in ESAB by 5.9% in the third quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company's stock valued at $300,000 after purchasing an additional 149 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in ESAB by 3.1% in the 2nd quarter. Lazard Asset Management LLC now owns 5,386 shares of the company's stock valued at $649,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Oppenheimer boosted their target price on ESAB from $142.00 to $148.00 and gave the stock an "outperform" rating in a research report on Friday, January 23rd. Roth Mkm restated a "buy" rating and issued a $146.00 price target (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Wall Street Zen lowered ESAB from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Stifel Nicolaus increased their price objective on ESAB from $144.00 to $158.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. raised their target price on ESAB from $130.00 to $153.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $145.25.

Insiders Place Their Bets

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the firm's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total value of $7,353,621.16. Following the completion of the transaction, the chief executive officer owned 99,864 shares in the company, valued at $12,362,164.56. This trade represents a 37.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 7.30% of the company's stock.

ESAB Price Performance

ESAB stock opened at $97.40 on Thursday. The firm has a 50 day moving average of $117.96 and a 200-day moving average of $115.39. ESAB Corporation has a 12-month low of $93.10 and a 12-month high of $137.42. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.76 and a beta of 1.23.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results on Friday, February 20th. The company reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The business had revenue of $687.00 million for the quarter, compared to analysts' expectations of $687.80 million. During the same quarter in the prior year, the firm posted $1.28 EPS. The company's revenue was up 7.5% compared to the same quarter last year. As a group, equities analysts expect that ESAB Corporation will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Thursday, April 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $0.40 annualized dividend and a yield of 0.4%. ESAB's dividend payout ratio is 10.81%.

ESAB Company Profile

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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