The Manufacturers Life Insurance Company Makes New Investment in ESAB Corporation $ESAB

Key Points

• Institutional ownership increased: The Manufacturers Life Insurance Company purchased 38,030 ESAB shares worth about $3.75 million. Overall, institutional investors and hedge funds own 91.13% of the company.
• Analysts remain broadly optimistic: Seven analysts rate ESAB a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $138.14.
• Quarterly results were mixed: ESAB reported $1.33 in earnings per share, below the $1.37 consensus estimate, but revenue rose 12.9% year over year to $807.63 million, exceeding expectations.

The Manufacturers Life Insurance Company bought a new stake in shares of ESAB Corporation (NYSE:ESAB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 38,030 shares of the company's stock, valued at approximately $3,751,000. The Manufacturers Life Insurance Company owned 0.06% of ESAB as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in ESAB during the second quarter worth about $524,533,000. Bessemer Group Inc. increased its holdings in ESAB by 6,787.0% in the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company's stock valued at $117,730,000 after buying an additional 1,038,475 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of ESAB in the 2nd quarter valued at approximately $94,210,000. Norges Bank acquired a new position in shares of ESAB in the 4th quarter valued at approximately $85,692,000. Finally, Capital Research Global Investors bought a new position in ESAB in the fourth quarter valued at about $69,099,000. 91.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

ESAB Price Performance

ESAB stock opened at $74.03 on Wednesday. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.60 billion, a PE ratio of 26.53, a P/E/G ratio of 1.47 and a beta of 1.17. ESAB Corporation has a 12 month low of $73.78 and a 12 month high of $137.42. The stock has a 50-day moving average price of $87.40 and a two-hundred day moving average price of $97.03.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results 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). ESAB had a return on equity of 14.48% and a net margin of 5.75%.The firm had revenue of $807.63 million for the quarter, compared to the consensus estimate of $755.64 million. During the same quarter last year, the firm posted $1.36 earnings per share. The business's revenue for the quarter was up 12.9% on a year-over-year basis. ESAB has set its FY 2026 guidance at 5.400-5.500 EPS. Analysts expect that ESAB Corporation will post 5.46 EPS for the current year.

Insider Buying and Selling

In other ESAB news, Director Rhonda L. Jordan sold 1,000 shares of the business'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 transaction of $95,000.00. Following the sale, the director directly owned 1,000 shares of the company's stock, valued at $95,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.20% of the stock is currently owned by corporate insiders.

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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