L2 Asset Management LLC Makes New Investment in ESAB Corporation $ESAB

L2 Asset Management LLC purchased a new position in ESAB Corporation (NYSE:ESAB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,840 shares of the company's stock, valued at approximately $1,365,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Royal Bank of Canada grew its holdings in shares of ESAB by 29.4% during the first quarter. Royal Bank of Canada now owns 51,867 shares of the company's stock worth $6,042,000 after purchasing an additional 11,772 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of ESAB in the first quarter valued at about $10,616,000. Goldman Sachs Group Inc. increased its stake in shares of ESAB by 25.9% during the first quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company's stock worth $53,396,000 after acquiring an additional 94,335 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company's stock worth $40,000 after purchasing an additional 174 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in ESAB by 183.4% during the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the company's stock worth $117,000 after purchasing an additional 629 shares in the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Roth Capital lifted their price objective on ESAB from $142.00 to $151.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Weiss Ratings downgraded ESAB from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Stifel Nicolaus reduced their price objective on shares of ESAB from $141.00 to $137.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Oppenheimer reduced their price target on shares of ESAB from $140.00 to $135.00 and set an "outperform" rating on the stock in a report on Tuesday, July 21st. Finally, DA Davidson started coverage on shares of ESAB in a report on Monday, June 15th. They issued a "buy" rating and a $130.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $138.14.

ESAB Price Performance

ESAB opened at $79.26 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.96. The company has a 50-day moving average of $90.34 and a 200-day moving average of $99.32. ESAB Corporation has a 1-year low of $77.34 and a 1-year high of $137.42. The company has a market capitalization of $4.93 billion, a P/E ratio of 28.41, a PEG ratio of 1.59 and a beta of 1.19.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.04). The business had revenue of $807.63 million for the quarter, compared to analyst estimates of $755.64 million. ESAB had a return on equity of 14.48% and a net margin of 5.75%.ESAB's revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.36 EPS. ESAB has set its FY 2026 guidance at 5.400-5.500 EPS. Equities analysts expect that ESAB Corporation will post 5.46 EPS for the current fiscal year.

Insider Activity at ESAB

In other news, Director Rhonda L. Jordan sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the director directly owned 1,000 shares of the company's stock, valued at approximately $95,000. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.20% of the company's stock.

ESAB Company Profile

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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