Hsbc Holdings PLC Buys New Stake in ESAB Co. (NYSE:ESAB)

Hsbc Holdings PLC purchased a new position in shares of ESAB Co. (NYSE:ESAB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,036 shares of the company's stock, valued at approximately $1,446,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ESAB. EverSource Wealth Advisors LLC grew its holdings in shares of ESAB by 70.3% during 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 in the last quarter. Quadrant Capital Group LLC increased its position in ESAB by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock worth $82,000 after purchasing an additional 92 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of ESAB by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $1,895,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System grew its stake in shares of ESAB by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,664 shares of the company's stock valued at $1,999,000 after buying an additional 135 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in 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 acquiring an additional 139 shares in the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ESAB has been the topic of several analyst reports. Stifel Nicolaus increased their price target on shares of ESAB from $109.00 to $126.00 and gave the stock a "hold" rating in a research note on Friday. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $123.00 to $147.00 in a research report on Tuesday, April 1st. JPMorgan Chase & Co. increased their price objective on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Finally, Evercore ISI upgraded ESAB from an "underperform" rating to an "inline" rating and reduced their target price for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Two equities research 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 company currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.88.

ESAB Stock Performance

Shares of ESAB traded down $1.20 during mid-day trading on Monday, hitting $122.57. The company's stock had a trading volume of 339,487 shares, compared to its average volume of 279,481. ESAB Co. has a one year low of $88.54 and a one year high of $135.97. The stock's 50-day moving average is $117.84 and its two-hundred day moving average is $121.70. The firm has a market capitalization of $7.43 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82.

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

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, April 4th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date was Friday, April 4th. ESAB's payout ratio is presently 7.21%.

ESAB Company Profile

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.