Janney Montgomery Scott LLC Buys Shares of 5,062 ESAB Corporation (NYSE:ESAB)

Janney Montgomery Scott LLC acquired a new position in ESAB Corporation (NYSE:ESAB - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,062 shares of the company's stock, valued at approximately $590,000.

A number of other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in shares of ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after purchasing an additional 90 shares during the period. SBI Securities Co. Ltd. purchased a new stake in ESAB during the fourth quarter worth about $36,000. Kapitalo Investimentos Ltda bought a new stake in ESAB in the fourth quarter worth about $47,000. Farther Finance Advisors LLC raised its position in ESAB by 1,128.9% in the first quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock worth $56,000 after acquiring an additional 429 shares during the period. Finally, UMB Bank n.a. boosted its stake in ESAB by 323.8% in the first quarter. UMB Bank n.a. now owns 534 shares of the company's stock valued at $62,000 after acquiring an additional 408 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Robert W. Baird set a $143.00 price target on shares of ESAB in a research note on Friday, May 2nd. JPMorgan Chase & Co. raised 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. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and upped their price target for the company from $123.00 to $147.00 in a research report on Tuesday, April 1st. Evercore ISI lifted their price objective on ESAB from $120.00 to $125.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Finally, Stifel Nicolaus boosted their price objective on ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $137.22.

ESAB Stock Performance

Shares of NYSE ESAB traded up $0.53 during mid-day trading on Friday, hitting $125.45. The company had a trading volume of 153,726 shares, compared to its average volume of 275,589. The company has a current ratio of 1.91, a quick ratio of 1.24 and a debt-to-equity ratio of 0.54. ESAB Corporation has a 1 year low of $88.54 and a 1 year high of $135.97. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 28.25, a P/E/G ratio of 3.05 and a beta of 1.26. The stock's 50-day moving average price is $123.48 and its 200-day moving average price is $121.32.

ESAB (NYSE:ESAB - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. ESAB had a return on equity of 16.98% and a net margin of 9.98%. The business had revenue of $678.14 million during the quarter, compared to analyst estimates of $633.66 million. During the same quarter in the previous year, the firm earned $1.20 EPS. The company's quarterly revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Increases Dividend

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

Insider Buying and Selling

In other ESAB news, insider Olivier Biebuyck sold 1,417 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $131.15, for a total value of $185,839.55. Following the sale, the insider directly owned 14,989 shares in the company, valued at $1,965,807.35. This represents a 8.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rhonda L. Jordan sold 1,500 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $126.42, for a total transaction of $189,630.00. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company's stock.

ESAB Company 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.