TimesSquare Capital Management LLC Makes New Investment in ESAB Corporation $ESAB

TimesSquare Capital Management LLC acquired a new stake in ESAB Corporation (NYSE:ESAB - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 574,650 shares of the company's stock, valued at approximately $56,678,000. TimesSquare Capital Management LLC owned 0.94% of ESAB as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada raised its position 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 period. Millennium Management LLC bought a new position in shares of ESAB in the 1st quarter worth $10,616,000. Goldman Sachs Group Inc. grew its position in ESAB by 25.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company's stock valued at $53,396,000 after purchasing an additional 94,335 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company's stock valued at $40,000 after purchasing an additional 174 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in ESAB by 183.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the company's stock valued at $117,000 after purchasing an additional 629 shares in the last quarter. Institutional investors own 91.13% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of ESAB from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. DA Davidson assumed 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. Oppenheimer dropped their price target on shares of ESAB from $140.00 to $135.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 21st. Roth Capital lifted their price target on ESAB from $142.00 to $151.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Finally, Stifel Nicolaus cut their price target on ESAB from $141.00 to $137.00 and set a "buy" rating for the company in a research note on Monday, July 20th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, ESAB currently has an average rating of "Moderate Buy" and an average target price of $138.38.

ESAB Stock Performance

NYSE ESAB opened at $82.06 on Tuesday. ESAB Corporation has a 1 year low of $81.89 and a 1 year high of $137.42. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.96 and a quick ratio of 1.22. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 1.66 and a beta of 1.19. The company has a fifty day moving average price of $91.38 and a 200-day moving average price of $100.68.

ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.04). ESAB had a net margin of 5.75% and a return on equity of 14.48%. The firm had revenue of $807.63 million during the quarter, compared to analysts' expectations of $755.64 million. During the same quarter in the prior year, the company earned $1.36 EPS. 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. As a group, equities research analysts predict that ESAB Corporation will post 5.46 EPS for the current fiscal year.

Insider Buying and Selling

In other ESAB news, Director Rhonda L. Jordan sold 1,000 shares of the stock in a transaction dated 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 owned 1,000 shares in the company, valued at approximately $95,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 7.20% of the company's stock.

ESAB 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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