ESAB Co. (NYSE:ESAB) Stock Position Decreased by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its position in shares of ESAB Co. (NYSE:ESAB - Free Report) by 8.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,246 shares of the company's stock after selling 22,335 shares during the quarter. Nuveen Asset Management LLC owned about 0.41% of ESAB worth $29,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after buying an additional 90 shares in the last quarter. Quadrant Capital Group LLC raised its stake in ESAB by 15.6% during the fourth quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock valued at $82,000 after buying an additional 92 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of ESAB by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $1,895,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System raised its position in shares of ESAB by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,664 shares of the company's stock worth $1,999,000 after purchasing an additional 135 shares during the period. Finally, Legacy Capital Group California Inc. raised its position in shares of ESAB by 6.0% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,459 shares of the company's stock worth $295,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Stock Performance

ESAB stock traded up $3.23 on Tuesday, reaching $126.45. The company's stock had a trading volume of 334,232 shares, compared to its average volume of 279,771. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. The company has a market capitalization of $7.67 billion, a P/E ratio of 29.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The firm has a fifty day moving average of $119.53 and a two-hundred day moving average of $122.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The business had revenue of $678.14 million during the quarter, compared to analyst estimates of $633.66 million. During the same period in the prior year, the company posted $1.20 EPS. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, analysts predict that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. This is a positive change from ESAB's previous quarterly dividend of $0.08. The ex-dividend date is Thursday, July 3rd. ESAB's dividend payout ratio is 9.01%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Robert W. Baird set a $143.00 price target on ESAB in a research report on Friday, May 2nd. UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and increased their price target for the stock from $123.00 to $147.00 in a research report on Tuesday, April 1st. Stifel Nicolaus increased their price target on ESAB from $109.00 to $126.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Finally, Evercore ISI increased their price target on ESAB from $120.00 to $125.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $137.22.

Insider Buying and Selling

In other ESAB news, insider Olivier Biebuyck sold 1,417 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $131.15, for a total transaction of $185,839.55. Following the completion of the transaction, the insider now directly owns 14,989 shares of the company's stock, valued at approximately $1,965,807.35. This trade represents a 8.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.30% of the company's stock.

ESAB Profile

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.