ESAB Co. (NYSE:ESAB) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in ESAB Co. (NYSE:ESAB - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,293 shares of the company's stock after selling 2,891 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of ESAB worth $7,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ESAB. EverSource Wealth Advisors LLC raised its stake in shares of ESAB by 70.3% in 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 during the last quarter. ORG Wealth Partners LLC purchased a new stake in ESAB in the fourth quarter worth about $34,000. Trust Co. of Vermont raised its stake in ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company's stock worth $36,000 after acquiring an additional 270 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of ESAB during the 4th quarter valued at $36,000. Finally, Quest Partners LLC raised its holdings in ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company's stock valued at $65,000 after acquiring an additional 607 shares during the period. Institutional investors own 91.13% of the company's stock.

Analyst Ratings Changes

ESAB has been the topic of several recent analyst reports. Stifel Nicolaus reduced their price objective on shares of ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Evercore ISI upgraded ESAB from an "underperform" rating to an "inline" rating and dropped their target price for the company from $122.00 to $120.00 in a research report on Monday, February 24th. UBS Group upgraded shares of ESAB from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $123.00 to $147.00 in a report on Tuesday. Jefferies Financial Group began coverage on ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $135.75.

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ESAB Stock Up 3.8 %

NYSE:ESAB traded up $4.40 during mid-day trading on Tuesday, hitting $120.90. 327,290 shares of the company's stock traded hands, compared to its average volume of 269,297. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. The company has a market capitalization of $7.32 billion, a P/E ratio of 27.99, a P/E/G ratio of 2.01 and a beta of 1.36. The company has a fifty day moving average of $122.40 and a 200 day moving average of $120.12. ESAB Co. has a twelve month low of $88.54 and a twelve month high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The firm had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. On average, analysts forecast that ESAB Co. will post 5.16 EPS for the current year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. ESAB's payout ratio is currently 7.41%.

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.