Sapience Investments LLC Sells 6,539 Shares of ESAB Co. (NYSE:ESAB)

Sapience Investments LLC trimmed its position in ESAB Co. (NYSE:ESAB - Free Report) by 20.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,547 shares of the company's stock after selling 6,539 shares during the quarter. ESAB comprises about 1.8% of Sapience Investments LLC's investment portfolio, making the stock its 14th biggest position. Sapience Investments LLC's holdings in ESAB were worth $3,064,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after purchasing an additional 90 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in ESAB by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock valued at $82,000 after buying an additional 92 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of ESAB by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $1,895,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of ESAB by 0.8% in the fourth quarter. Arizona State Retirement System now owns 16,664 shares of the company's stock worth $1,999,000 after acquiring an additional 135 shares during the last quarter. Finally, Legacy Capital Group California Inc. boosted its stake in shares of ESAB by 6.0% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,459 shares of the company's stock worth $295,000 after acquiring an additional 139 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Olivier Biebuyck sold 1,417 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $131.15, for a total transaction of $185,839.55. Following the sale, the insider now directly owns 14,989 shares of the company's stock, valued at $1,965,807.35. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.30% of the stock is owned by company insiders.

ESAB Trading Down 0.9%

NYSE ESAB traded down $1.11 on Tuesday, hitting $128.63. 156,699 shares of the stock were exchanged, compared to its average volume of 280,560. The company's 50-day moving average price is $119.15 and its two-hundred day moving average price is $122.49. 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 52-week low of $88.54 and a 52-week high of $135.97. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 2.01 and a beta of 1.36.

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

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. This is a positive change from ESAB's previous quarterly dividend of $0.08. ESAB's dividend payout ratio is currently 9.01%.

Analyst Ratings Changes

Several analysts have recently commented on ESAB shares. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and lifted their price target for the company from $123.00 to $147.00 in a research report on Tuesday, April 1st. JPMorgan Chase & Co. upped their price target on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Robert W. Baird set a $143.00 target price on shares of ESAB in a research note on Friday, May 2nd. Stifel Nicolaus upped their target price on ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Finally, Evercore ISI increased their target price on shares of ESAB from $120.00 to $125.00 and gave the stock an "in-line" rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, ESAB has a consensus rating of "Moderate Buy" and a consensus price target of $137.22.

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.