Natixis Advisors LLC Has $2.28 Million Holdings in ESAB Corporation (NYSE:ESAB)

Key Points

• Natixis Advisors LLC increased its stake in ESAB Corporation by 21.6% in Q1, owning 19,544 shares valued at $2.3 million.
• ESAB's stock price fell by $4.82, trading at $111.04, with a market capitalization of $6.73 billion and a P/E ratio of 21.62.
• ESAB reported Q2 earnings per share of $1.36, beating estimates, as well as revenue of $715.59 million, up 1.3% year-over-year.

Natixis Advisors LLC boosted its holdings in ESAB Corporation (NYSE:ESAB - Free Report) by 21.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,544 shares of the company's stock after buying an additional 3,466 shares during the period. Natixis Advisors LLC's holdings in ESAB were worth $2,277,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its stake in shares of ESAB by 204.8% in the 1st quarter. First Horizon Advisors Inc. now owns 320 shares of the company's stock valued at $37,000 after purchasing an additional 215 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in ESAB during the 4th quarter worth approximately $47,000. Farther Finance Advisors LLC increased its holdings in ESAB by 1,128.9% during the 1st quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock worth $56,000 after purchasing an additional 429 shares during the last quarter. UMB Bank n.a. increased its holdings in ESAB by 323.8% during the 1st quarter. UMB Bank n.a. now owns 534 shares of the company's stock worth $62,000 after purchasing an additional 408 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of ESAB by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock valued at $82,000 after acquiring an additional 92 shares during the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ESAB

In other ESAB news, Director Rhonda L. Jordan sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $126.42, for a total value of $189,630.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Olivier Biebuyck sold 1,440 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 represents a 8.76% decrease in their position. The disclosure for this sale can be found here. 7.30% of the stock is owned by corporate insiders.

ESAB Stock Up 3.2%

ESAB stock traded up $3.47 during mid-day trading on Tuesday, hitting $112.25. The stock had a trading volume of 127,056 shares, compared to its average volume of 313,345. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 2.65 and a beta of 1.27. The company has a fifty day moving average of $124.67 and a 200 day moving average of $122.32. ESAB Corporation has a 1-year low of $93.15 and a 1-year high of $135.97. The company has a current ratio of 1.95, a quick ratio of 1.26 and a debt-to-equity ratio of 0.50.

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

Analyst Upgrades and Downgrades

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

About ESAB

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.