ESAB Co. (NYSE:ESAB) Holdings Lowered by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its position in ESAB Co. (NYSE:ESAB - Free Report) by 8.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 246,246 shares of the company's stock after selling 22,335 shares during the period. Nuveen Asset Management LLC owned approximately 0.41% of ESAB worth $29,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ESAB. EverSource Wealth Advisors LLC raised its stake in shares of ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after buying an additional 90 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of ESAB in the 4th quarter worth $36,000. Kapitalo Investimentos Ltda bought a new stake in shares of ESAB in the 4th quarter worth $47,000. Quadrant Capital Group LLC raised its holdings in shares of ESAB by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock worth $82,000 after purchasing an additional 92 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of ESAB in the 4th quarter worth approximately $83,000. Institutional investors own 91.13% of the company's stock.

Insiders Place Their Bets

In other news, insider Olivier Biebuyck sold 1,417 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 14,989 shares of the company's stock, valued at $1,965,807.35. This trade represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

ESAB Stock Down 2.6%

NYSE:ESAB opened at $125.57 on Thursday. The firm has a market capitalization of $7.61 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 2.01 and a beta of 1.36. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The business's fifty day moving average price is $119.26 and its 200 day moving average price is $122.52.

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

ESAB Increases Dividend

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

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.

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