Vanguard Group Inc. Has $604.01 Million Holdings in ESAB Corporation $ESAB

Key Points

• Vanguard Group trimmed its ESAB stake by 1.1% in Q4 and now holds 5,406,425 shares—about 8.91% of the company, valued at roughly $604.01 million.
• CEO Shyam Kambeyanda sold 59,404 shares on Feb. 23, cutting his position by 37.3% to 99,864 shares; insiders now own 7.2% of ESAB while institutional investors hold about 91.13%.
• ESAB reported Q results with $1.35 EPS (beat by $0.01) and revenue of $687M (up 7.5% YoY), pays a $0.10 quarterly dividend (annualized $0.40, yield 0.4%), and carries a consensus “Moderate Buy” rating with an average target of $137.89.

Vanguard Group Inc. cut its stake in ESAB Corporation (NYSE:ESAB - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,406,425 shares of the company's stock after selling 60,988 shares during the period. Vanguard Group Inc. owned about 8.91% of ESAB worth $604,006,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Durable Capital Partners LP increased its holdings in ESAB by 40.5% during the 3rd quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company's stock valued at $217,430,000 after purchasing an additional 560,678 shares in the last quarter. Interval Partners LP increased its holdings in ESAB by 726.9% during the 3rd quarter. Interval Partners LP now owns 632,412 shares of the company's stock valued at $70,666,000 after purchasing an additional 555,932 shares in the last quarter. Millennium Management LLC increased its holdings in ESAB by 2,367.3% during the 3rd quarter. Millennium Management LLC now owns 432,279 shares of the company's stock valued at $48,303,000 after purchasing an additional 414,759 shares in the last quarter. Cooke & Bieler LP increased its holdings in ESAB by 64.3% during the 3rd quarter. Cooke & Bieler LP now owns 996,533 shares of the company's stock valued at $111,353,000 after purchasing an additional 390,104 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its holdings in ESAB by 182.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 295,745 shares of the company's stock valued at $33,047,000 after purchasing an additional 191,029 shares in the last quarter. 91.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the firm's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $123.79, for a total value of $7,353,621.16. Following the transaction, the chief executive officer directly owned 99,864 shares in the company, valued at $12,362,164.56. This trade represents a 37.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.20% of the company's stock.

ESAB Stock Down 0.1%

Shares of ESAB opened at $97.86 on Monday. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 1.82 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.17 and a current ratio of 1.90. The business's fifty day moving average price is $104.65 and its two-hundred day moving average price is $113.04. ESAB Corporation has a 52 week low of $89.41 and a 52 week high of $137.42.

ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings data on Friday, February 20th. The company reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.01. The firm had revenue of $687.00 million for the quarter, compared to analyst estimates of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $1.28 EPS. On average, analysts predict that ESAB Corporation will post 5.82 earnings per share for the current year.

ESAB Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Thursday, April 2nd were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Thursday, April 2nd. ESAB's dividend payout ratio (DPR) is presently 10.81%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ESAB. Roth Mkm set a $142.00 price target on ESAB in a report on Thursday, April 16th. Jefferies Financial Group reaffirmed a "buy" rating and set a $130.00 price target (down from $150.00) on shares of ESAB in a report on Tuesday, March 31st. Oppenheimer reaffirmed an "outperform" rating and set a $140.00 price target on shares of ESAB in a report on Tuesday, April 14th. JPMorgan Chase & Co. dropped their price target on ESAB from $148.00 to $135.00 and set an "overweight" rating for the company in a report on Friday, April 10th. Finally, Stifel Nicolaus dropped their price target on ESAB from $158.00 to $138.00 and set a "buy" rating for the company in a report on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $137.89.

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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