Jefferies Financial Group Inc. Invests $265,000 in ESAB Corporation (NYSE:ESAB)

Key Points

• Jefferies Financial Group Inc. made a new investment in ESAB Corporation, purchasing 2,271 shares valued at approximately $265,000.
• ESAB's stock opened at $111.04, down 4.2% recently, with a market capitalization of $6.73 billion and revenue of $715.59 million for the last quarter.
• Insider transactions revealed significant sales, with insider Olivier Biebuyck selling 1,440 shares for $192,225.60, reflecting an 8.76% ownership decrease post-sale.

Jefferies Financial Group Inc. bought a new position in shares of ESAB Corporation (NYSE:ESAB - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,271 shares of the company's stock, valued at approximately $265,000.

Other large investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in ESAB by 3.5% in the first quarter. Bessemer Group Inc. now owns 14,844 shares of the company's stock valued at $1,729,000 after buying an additional 506 shares in the last quarter. GAMMA Investing LLC increased its holdings in ESAB by 37.7% in the first quarter. GAMMA Investing LLC now owns 756 shares of the company's stock valued at $88,000 after buying an additional 207 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in ESAB in the first quarter valued at about $590,000. Cetera Investment Advisers increased its holdings in ESAB by 57.2% in the first quarter. Cetera Investment Advisers now owns 23,666 shares of the company's stock valued at $2,757,000 after buying an additional 8,610 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in ESAB by 1,128.9% in the first quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock valued at $56,000 after buying an additional 429 shares in the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at ESAB

In other news, insider Olivier Biebuyck sold 1,440 shares of the business's stock in a transaction on 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. The trade was a 8.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rhonda L. Jordan sold 1,500 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was 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. 7.30% of the stock is currently owned by insiders.

ESAB Trading Up 0.9%

Shares of NYSE:ESAB traded up $0.96 during trading on Wednesday, hitting $113.17. 191,704 shares of the company's stock were exchanged, compared to its average volume of 313,900. ESAB Corporation has a 1-year low of $93.15 and a 1-year high of $135.97. The firm has a 50-day moving average price of $124.45 and a two-hundred day moving average price of $122.25. The company has a current ratio of 1.95, a quick ratio of 1.26 and a debt-to-equity ratio of 0.50. The firm has a market cap of $6.87 billion, a P/E ratio of 27.05, a PEG ratio of 2.60 and a beta of 1.27.

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

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.