Hsbc Holdings PLC Has $438,000 Stock Holdings in ESAB Corporation $ESAB

Key Points

• Hsbc Holdings PLC sharply reduced its ESAB stake by 87.2% in the fourth quarter, selling 26,682 shares and leaving it with 3,914 shares valued at about $438,000.
• ESAB’s latest earnings showed mixed results: revenue came in at $745.6 million, above expectations and up 10% year over year, but adjusted EPS of $1.31 missed the consensus by $0.01.
• The company raised its quarterly dividend to $0.12 per share from $0.10, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $139.50.

Hsbc Holdings PLC lessened its holdings in ESAB Corporation (NYSE:ESAB - Free Report) by 87.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,914 shares of the company's stock after selling 26,682 shares during the quarter. Hsbc Holdings PLC's holdings in ESAB were worth $438,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. T. Rowe Price Investment Management Inc. boosted its holdings in ESAB by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company's stock worth $894,457,000 after buying an additional 45,841 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of ESAB by 11.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company's stock valued at $653,864,000 after acquiring an additional 613,327 shares during the last quarter. Durable Capital Partners LP increased its stake in shares of ESAB by 40.5% in the 3rd quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company's stock valued at $217,430,000 after acquiring an additional 560,678 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ESAB by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 1,318,269 shares of the company's stock valued at $147,300,000 after acquiring an additional 16,466 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of ESAB by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,181,526 shares of the company's stock valued at $132,008,000 after acquiring an additional 35,782 shares during the period. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Stock Performance

Shares of ESAB opened at $89.77 on Friday. ESAB Corporation has a 12 month low of $82.18 and a 12 month high of $137.42. The firm has a fifty day simple moving average of $92.84 and a 200 day simple moving average of $105.25. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.69 and a beta of 1.17. The company has a current ratio of 2.97, a quick ratio of 2.26 and a debt-to-equity ratio of 0.91.

ESAB (NYSE:ESAB - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). ESAB had a return on equity of 15.04% and a net margin of 7.11%.The company had revenue of $745.60 million for the quarter, compared to the consensus estimate of $706.74 million. During the same quarter in the previous year, the company posted $1.25 EPS. The business's revenue was up 10.0% on a year-over-year basis. Research analysts forecast that ESAB Corporation will post 5.79 EPS for the current fiscal year.

ESAB Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Friday, July 3rd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, July 2nd. This is a positive change from ESAB's previous quarterly dividend of $0.10. ESAB's payout ratio is presently 14.20%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group reissued a "buy" rating and set a $130.00 price target (down from $150.00) on shares of ESAB in a research report on Tuesday, March 31st. Stifel Nicolaus set a $141.00 price objective on ESAB in a research note on Friday, May 8th. JPMorgan Chase & Co. reduced their target price on ESAB from $148.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, April 10th. Roth Capital increased their price target on ESAB from $142.00 to $151.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Finally, Oppenheimer reiterated an "outperform" rating and set a $140.00 price objective on shares of ESAB in a report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.50.

About ESAB

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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