ESAB Corporation $ESAB Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its holdings in ESAB Corporation (NYSE:ESAB - Free Report) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,513,478 shares of the company's stock after selling 32,626 shares during the quarter. Vanguard Group Inc. owned 9.09% of ESAB worth $642,320,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. grew its position in shares of ESAB by 204.8% in the first quarter. First Horizon Advisors Inc. now owns 320 shares of the company's stock valued at $37,000 after purchasing an additional 215 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of ESAB during the 4th quarter worth approximately $47,000. Farther Finance Advisors LLC grew its holdings in ESAB by 1,128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock valued at $56,000 after buying an additional 429 shares during the last quarter. UMB Bank n.a. increased its position in ESAB by 323.8% during the first quarter. UMB Bank n.a. now owns 534 shares of the company's stock worth $62,000 after buying an additional 408 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in ESAB by 37.7% during the first quarter. GAMMA Investing LLC now owns 756 shares of the company's stock worth $88,000 after buying an additional 207 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ESAB

In related news, insider Olivier Biebuyck sold 1,440 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $133.49, for a total value of $192,225.60. Following the sale, the insider owned 14,989 shares of the company's stock, valued at $2,000,881.61. This trade represents a 8.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rhonda L. Jordan sold 4,067 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $113.05, for a total value of $459,774.35. The disclosure for this sale can be found here. In the last three months, insiders sold 7,007 shares of company stock worth $841,630. Company insiders own 7.30% of the company's stock.

ESAB Stock Performance

ESAB stock traded up $0.59 during mid-day trading on Monday, reaching $110.90. The company's stock had a trading volume of 97,381 shares, compared to its average volume of 315,655. The company has a current ratio of 1.95, a quick ratio of 1.26 and a debt-to-equity ratio of 0.50. ESAB Corporation has a twelve month low of $93.15 and a twelve month high of $135.97. The business has a 50 day moving average price of $123.65 and a 200-day moving average price of $122.03. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 2.64 and a beta of 1.27.

ESAB (NYSE:ESAB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.02. The firm had revenue of $715.59 million for the quarter, compared to analysts' expectations of $670.80 million. ESAB had a net margin of 9.36% and a return on equity of 16.32%. ESAB's revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $1.32 earnings per share. Sell-side analysts predict that ESAB Corporation will post 5.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ESAB shares. Robert W. Baird set a $143.00 price objective on ESAB in a research note on Friday, May 2nd. Stifel Nicolaus raised shares of ESAB from a "hold" rating to a "buy" rating and set a $141.00 target price on the stock in a research note on Thursday, August 7th. Evercore ISI lifted their target price on shares of ESAB from $120.00 to $125.00 and gave the company an "in-line" rating in a report on Monday, May 19th. JPMorgan Chase & Co. lowered their price target on ESAB from $137.00 to $125.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Oppenheimer decreased their target price on ESAB from $144.00 to $142.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, ESAB presently has a consensus rating of "Moderate Buy" and an average target price of $137.88.

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.