PDT Partners LLC lessened its position in ESAB Co. (NYSE:ESAB - Free Report) by 70.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,312 shares of the company's stock after selling 7,855 shares during the quarter. PDT Partners LLC's holdings in ESAB were worth $397,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in ESAB. JPMorgan Chase & Co. boosted its stake in ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock worth $202,001,000 after purchasing an additional 337,983 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of ESAB in the fourth quarter worth about $36,000. Advantage Alpha Capital Partners LP boosted its position in ESAB by 8.5% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 32,775 shares of the company's stock worth $3,931,000 after acquiring an additional 2,571 shares during the last quarter. Atria Investments Inc grew its stake in ESAB by 30.1% during the 4th quarter. Atria Investments Inc now owns 9,279 shares of the company's stock valued at $1,113,000 after acquiring an additional 2,147 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new stake in ESAB in the 4th quarter valued at about $254,000. 91.13% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ESAB has been the subject of a number of analyst reports. UBS Group upgraded ESAB from a "neutral" rating to a "buy" rating and upped their price target for the company from $123.00 to $147.00 in a research report on Tuesday, April 1st. Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and cut their target price for the stock from $122.00 to $120.00 in a research note on Monday, February 24th. Stifel Nicolaus dropped their price objective on shares of ESAB from $125.00 to $109.00 and set a "hold" rating for the company in a report on Monday, April 14th. Finally, 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 research report on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $133.75.
Read Our Latest Report on ESAB
ESAB Stock Down 1.7 %
Shares of NYSE ESAB opened at $118.10 on Friday. ESAB Co. has a 52-week low of $88.54 and a 52-week high of $135.97. The business's 50 day moving average is $117.87 and its two-hundred day moving average is $121.40. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.01 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59.
ESAB (NYSE:ESAB - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.06. The firm had revenue of $678.14 million for the quarter, compared to analyst estimates of $633.66 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. ESAB's revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Research analysts predict that ESAB Co. will post 5.16 EPS for the current year.
ESAB Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, April 4th were paid a $0.08 dividend. The ex-dividend date was Friday, April 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. ESAB's dividend payout ratio (DPR) is 7.41%.
About ESAB
(
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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