NewEdge Advisors LLC purchased a new stake in shares of ESAB Co. (NYSE:ESAB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,500 shares of the company's stock, valued at approximately $300,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in ESAB by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 5,546,104 shares of the company's stock worth $665,200,000 after buying an additional 20,741 shares in the last quarter. JPMorgan Chase & Co. lifted its position in ESAB by 15.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,202,568 shares of the company's stock valued at $264,176,000 after purchasing an additional 302,453 shares during the period. Invesco Ltd. boosted its holdings in ESAB by 17.9% in the fourth quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock worth $251,589,000 after purchasing an additional 318,018 shares during the last quarter. Neuberger Berman Group LLC raised its stake in ESAB by 1.7% during the 4th quarter. Neuberger Berman Group LLC now owns 1,888,685 shares of the company's stock valued at $226,529,000 after buying an additional 31,248 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of ESAB by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,195,048 shares of the company's stock valued at $143,370,000 after buying an additional 34,992 shares during the period. Institutional investors own 91.13% of the company's stock.
Analyst Ratings Changes
ESAB has been the subject of several research analyst reports. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $123.00 to $147.00 in a report on Tuesday, April 1st. JPMorgan Chase & Co. raised their price objective on shares of ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and reduced their target price for the company from $122.00 to $120.00 in a report on Monday, February 24th. Finally, Stifel Nicolaus dropped their price target on shares of ESAB from $125.00 to $109.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, ESAB presently has an average rating of "Moderate Buy" and a consensus target price of $133.75.
Read Our Latest Research Report on ESAB
ESAB Stock Performance
Shares of NYSE ESAB opened at $119.87 on Thursday. The stock has a market cap of $7.27 billion, a PE ratio of 27.75, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97. The firm has a fifty day moving average price of $117.94 and a 200-day moving average price of $121.34. 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 (NYSE:ESAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The business had revenue of $633.20 million during the quarter, compared to analyst estimates of $636.43 million. Equities analysts anticipate that ESAB Co. will post 5.16 earnings per share for the current fiscal year.
ESAB Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Friday, April 4th were issued a $0.08 dividend. The ex-dividend date was Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB's dividend payout ratio is presently 7.41%.
ESAB Company Profile
(
Free Report)
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.
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