ESAB Co. (NYSE:ESAB) Shares Sold by PDT Partners LLC

PDT Partners LLC trimmed its holdings in shares of ESAB Co. (NYSE:ESAB - Free Report) by 70.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,312 shares of the company's stock after selling 7,855 shares during the period. PDT Partners LLC's holdings in ESAB were worth $397,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after purchasing an additional 90 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in ESAB during the 4th quarter valued at about $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of ESAB in the fourth quarter worth about $36,000. Trust Co. of Vermont lifted its stake in 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 purchasing an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $66,000 after buying an additional 139 shares in the last quarter. Institutional investors own 91.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Robert W. Baird set a $143.00 price target on shares of ESAB in a research report 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. JPMorgan Chase & Co. lifted their target price on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and increased their price objective for the company from $123.00 to $147.00 in a research report on Tuesday, April 1st. Finally, Stifel Nicolaus increased their price objective on shares of ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.67.

ESAB Price Performance

ESAB stock traded up $2.06 during midday trading on Wednesday, reaching $124.35. The company had a trading volume of 32,095 shares, compared to its average volume of 278,705. The firm's fifty day simple moving average is $117.80 and its 200-day simple moving average is $121.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The company has a market capitalization of $7.54 billion, a P/E ratio of 28.79, a P/E/G ratio of 2.01 and a beta of 1.36. ESAB Co. has a 12-month low of $88.54 and a 12-month high of $135.97.

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

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Friday, April 4th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. ESAB's dividend payout ratio (DPR) is presently 7.21%.

ESAB 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.