ESAB Corporation (NYSE:ESAB) Shares Acquired by LPL Financial LLC

LPL Financial LLC raised its holdings in ESAB Corporation (NYSE:ESAB - Free Report) by 38.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,466 shares of the company's stock after acquiring an additional 17,027 shares during the quarter. LPL Financial LLC owned 0.10% of ESAB worth $7,161,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Bessemer Group Inc. increased its position in shares of 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 position in shares of 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 shares of ESAB in the first quarter valued at $590,000. Cetera Investment Advisers increased its position in shares of 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 position in shares of 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. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Price Performance

ESAB stock traded down $0.59 during midday trading on Friday, reaching $111.09. 67,165 shares of the company were exchanged, compared to its average volume of 315,707. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 2.73 and a beta of 1.27. The firm's 50-day simple moving average is $123.97 and its 200-day simple moving average is $122.13. ESAB Corporation has a 1 year low of $93.15 and a 1 year high of $135.97. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.95.

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

Analyst Ratings Changes

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

Insider Activity

In other ESAB news, Director Rhonda L. Jordan sold 4,067 shares of ESAB stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $113.05, for a total value of $459,774.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Olivier Biebuyck sold 1,440 shares of ESAB 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 completion of 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 disclosure for this sale can be found here. Insiders sold a total of 7,007 shares of company stock valued at $841,630 in the last 90 days. 7.30% of the stock is owned by company insiders.

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.