Guggenheim Capital LLC Lowers Stake in ESAB Co. (NYSE:ESAB)

Guggenheim Capital LLC trimmed its holdings in ESAB Co. (NYSE:ESAB - Free Report) by 95.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,249 shares of the company's stock after selling 75,088 shares during the quarter. Guggenheim Capital LLC's holdings in ESAB were worth $390,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in shares of ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after acquiring an additional 90 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of ESAB during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. bought a new position in ESAB in the fourth quarter worth $36,000. Trust Co. of Vermont increased its stake in shares of ESAB by 871.0% in the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company's stock worth $36,000 after acquiring an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of ESAB by 33.9% during the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $66,000 after purchasing an additional 139 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Stifel Nicolaus upped their target price on shares of ESAB from $109.00 to $126.00 and gave the stock a "hold" rating in a research note on Friday. Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and reduced their price target for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Finally, UBS Group raised ESAB from a "neutral" rating to a "buy" rating and upped their price objective for the company from $123.00 to $147.00 in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $135.88.

ESAB Stock Performance

Shares of ESAB traded up $3.88 during trading hours on Friday, hitting $122.11. The stock had a trading volume of 66,015 shares, compared to its average volume of 308,163. The firm has a market capitalization of $7.40 billion, a PE ratio of 28.27, a PEG ratio of 2.01 and a beta of 1.37. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. ESAB Co. has a 12 month low of $88.54 and a 12 month high of $135.97. The stock has a fifty day moving average price of $117.87 and a 200 day moving average price of $121.40.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $678.14 million during the quarter, compared to analyst estimates of $633.66 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 EPS. Analysts anticipate that ESAB Co. will post 5.16 EPS for the current year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, April 4th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. ESAB's dividend payout ratio (DPR) is 7.41%.

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.