Barclays PLC Buys 10,027 Shares of ESAB Co. (NYSE:ESAB)

Barclays PLC grew its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 46.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,513 shares of the company's stock after purchasing an additional 10,027 shares during the quarter. Barclays PLC owned about 0.05% of ESAB worth $3,349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ESAB. Hantz Financial Services Inc. acquired a new stake in ESAB in the 2nd quarter valued at about $42,000. GAMMA Investing LLC increased its position in ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company's stock worth $44,000 after buying an additional 147 shares during the last quarter. Blue Trust Inc. raised its stake in ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company's stock valued at $65,000 after buying an additional 529 shares during the period. Quest Partners LLC lifted its position in shares of ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company's stock valued at $65,000 after buying an additional 607 shares during the last quarter. Finally, Millburn Ridgefield Corp bought a new position in shares of ESAB during the 3rd quarter worth approximately $77,000. Institutional investors own 91.13% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group initiated coverage on ESAB in a research note on Thursday, December 12th. They issued a "buy" rating and a $160.00 price target on the stock. Loop Capital increased their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of ESAB from $120.00 to $128.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Evercore ISI downgraded ESAB from an "in-line" rating to an "underperform" rating and lifted their target price for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. Finally, Stifel Nicolaus downgraded shares of ESAB from a "buy" rating to a "hold" rating and decreased their price target for the company from $138.00 to $130.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $133.43.

ESAB Trading Up 1.1 %

Shares of NYSE:ESAB traded up $1.34 during midday trading on Tuesday, hitting $122.35. 57,823 shares of the stock were exchanged, compared to its average volume of 257,150. The business's 50-day moving average price is $124.15 and its 200 day moving average price is $107.82. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 28.65, a P/E/G ratio of 2.25 and a beta of 1.34. ESAB Co. has a 12 month low of $82.44 and a 12 month high of $135.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92.

ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.13. The firm had revenue of $673.00 million during the quarter, compared to analysts' expectations of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The company's revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 EPS. Analysts predict that ESAB Co. will post 4.94 earnings per share for the current year.

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date is Tuesday, December 31st. ESAB's payout ratio is presently 7.49%.

Insider Buying and Selling at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the sale, the chief executive officer now directly owns 53,902 shares in the company, valued at approximately $6,627,789.92. This trade represents a 52.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rhonda L. Jordan sold 4,254 shares of the business's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,418 shares of company stock worth $8,431,773. Insiders own 7.00% of the company's stock.

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.