Susquehanna Fundamental Investments LLC Takes $4.37 Million Position in ESAB Co. (NYSE:ESAB)

Susquehanna Fundamental Investments LLC acquired a new position in shares of ESAB Co. (NYSE:ESAB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 36,396 shares of the company's stock, valued at approximately $4,365,000. Susquehanna Fundamental Investments LLC owned 0.06% of ESAB at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of ESAB during the 4th quarter worth $81,199,000. Raymond James Financial Inc. purchased a new stake in ESAB during the fourth quarter worth about $52,281,000. TimesSquare Capital Management LLC grew its position in ESAB by 104.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 839,685 shares of the company's stock worth $100,712,000 after buying an additional 428,770 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of ESAB by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock worth $202,001,000 after acquiring an additional 337,983 shares during the period. Finally, Invesco Ltd. increased its position in shares of ESAB by 17.9% in the fourth quarter. Invesco Ltd. now owns 2,097,624 shares of the company's stock valued at $251,589,000 after buying an additional 318,018 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on ESAB shares. 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 report on Monday, February 24th. JPMorgan Chase & Co. increased their target price on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. 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 report on Tuesday, April 1st. Finally, Stifel Nicolaus boosted their target price on shares of ESAB from $109.00 to $126.00 and gave the company a "hold" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $135.88.

ESAB Trading Up 4.9 %

Shares of ESAB stock traded up $5.76 during trading hours on Friday, hitting $123.99. 335,687 shares of the company were exchanged, compared to its average volume of 279,240. The firm has a fifty day moving average of $117.88 and a 200 day moving average of $121.64. 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 Co. has a 1 year low of $88.54 and a 1 year high of $135.97. The firm has a market cap of $7.52 billion, a PE ratio of 28.70, a PEG ratio of 2.01 and a beta of 1.37.

ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The company 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%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 EPS. Analysts expect that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

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 annualized dividend and a yield of 0.26%. ESAB's payout ratio is 7.41%.

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.