Van Berkom & Associates Inc. Sells 106,006 Shares of ESAB Corporation $ESAB

Key Points

• Van Berkom & Associates reduced its ESAB stake by 13.9% in the first quarter, selling 106,006 shares and leaving it with 656,272 shares worth about $63.4 million.
• Institutional ownership remains high, with several other large investors adding to their positions and institutions collectively owning 91.13% of ESAB shares.
• Analysts remain mostly bullish on ESAB, with eight Buy ratings and two Hold ratings, alongside an average price target of $139.50 versus a recent trading price around $89.77.

Van Berkom & Associates Inc. lessened its stake in shares of ESAB Corporation (NYSE:ESAB - Free Report) by 13.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 656,272 shares of the company's stock after selling 106,006 shares during the period. ESAB makes up approximately 2.1% of Van Berkom & Associates Inc.'s holdings, making the stock its 28th largest holding. Van Berkom & Associates Inc. owned approximately 1.08% of ESAB worth $63,435,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Bessemer Group Inc. increased its position in ESAB by 6,787.0% during the fourth quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company's stock valued at $117,730,000 after acquiring an additional 1,038,475 shares during the last quarter. Norges Bank purchased a new stake in shares of ESAB in the fourth quarter valued at $85,692,000. Capital Research Global Investors bought a new stake in shares of ESAB in the 4th quarter worth about $69,099,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of ESAB by 11.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company's stock worth $653,864,000 after acquiring an additional 613,327 shares during the last quarter. Finally, Durable Capital Partners LP boosted its stake in shares of ESAB by 40.5% during the 3rd quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company's stock worth $217,430,000 after purchasing an additional 560,678 shares during the period. 91.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ESAB has been the topic of several analyst reports. Oppenheimer reiterated an "outperform" rating and set a $140.00 price target on shares of ESAB in a report on Tuesday, April 14th. JPMorgan Chase & Co. decreased their price objective on shares of ESAB from $148.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, April 10th. Stifel Nicolaus set a $141.00 target price on ESAB in a research report on Friday, May 8th. Roth Capital increased their target price on ESAB from $142.00 to $151.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Finally, DA Davidson assumed coverage on shares of ESAB in a research report on Monday, June 15th. They set a "buy" rating and a $130.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $139.50.

ESAB Trading Down 0.0%

NYSE:ESAB opened at $89.77 on Monday. ESAB Corporation has a 52 week low of $82.18 and a 52 week high of $137.42. The firm has a 50 day moving average of $92.84 and a 200 day moving average of $105.20. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.65 and a beta of 1.17.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $1.31 earnings per share for the quarter, missing analysts' consensus estimates of $1.32 by ($0.01). The business had revenue of $745.60 million during the quarter, compared to analyst estimates of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The firm's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. As a group, sell-side analysts anticipate that ESAB Corporation will post 5.79 earnings per share for the current fiscal year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, July 2nd. This is an increase from ESAB's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. ESAB's payout ratio is presently 14.20%.

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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