ESAB Co. (NYSE:ESAB) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 517,321 shares of the company's stock after acquiring an additional 8,235 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.86% of ESAB worth $54,996,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Royce & Associates LP lifted its position in ESAB by 8.6% in the third quarter. Royce & Associates LP now owns 749,752 shares of the company's stock valued at $79,706,000 after purchasing an additional 59,447 shares during the period. TD Asset Management Inc boosted its stake in shares of ESAB by 5.4% in the second quarter. TD Asset Management Inc now owns 531,122 shares of the company's stock valued at $50,154,000 after buying an additional 27,202 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in ESAB by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 490,532 shares of the company's stock worth $46,321,000 after acquiring an additional 21,025 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in ESAB by 7.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company's stock worth $49,595,000 after acquiring an additional 34,161 shares during the period. Finally, Sei Investments Co. lifted its holdings in ESAB by 14.2% in the second quarter. Sei Investments Co. now owns 147,281 shares of the company's stock valued at $13,908,000 after acquiring an additional 18,328 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ESAB shares. Oppenheimer reaffirmed an "outperform" rating and set a $144.00 price target (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Loop Capital increased their target price on shares of ESAB from $105.00 to $120.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on ESAB from $120.00 to $128.00 and gave the stock an "overweight" rating in a research note on Monday, September 30th. Evercore ISI cut ESAB from an "in-line" rating to an "underperform" rating and upped their price target for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. Finally, Bank of America lifted their price objective on ESAB from $115.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $124.14.

ESAB Trading Up 0.6 %

Shares of NYSE ESAB traded up $0.82 during midday trading on Friday, reaching $129.08. 159,610 shares of the stock were exchanged, compared to its average volume of 284,061. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $7.80 billion, a P/E ratio of 30.23, a P/E/G ratio of 2.26 and a beta of 1.37. The stock has a 50 day moving average price of $116.95 and a 200-day moving average price of $105.03. ESAB Co. has a 52-week low of $76.08 and a 52-week high of $135.97.

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

ESAB Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 27th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, September 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. ESAB's payout ratio is 7.49%.

Insider Buying and Selling

In related news, Director Rhonda L. Jordan sold 4,254 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Shyam Kambeyanda sold 59,120 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,418 shares of company stock valued at $8,431,773. 7.00% of the stock is currently owned by company insiders.

About ESAB

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.