ESAB Co. (NYSE:ESAB) Shares Bought by Neuberger Berman Group LLC

Neuberger Berman Group LLC grew its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 1.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,888,685 shares of the company's stock after acquiring an additional 31,248 shares during the period. Neuberger Berman Group LLC owned about 3.12% of ESAB worth $226,529,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after acquiring an additional 90 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of ESAB by 15.6% in the 4th quarter. Quadrant Capital Group LLC now owns 682 shares of the company's stock worth $82,000 after purchasing an additional 92 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in ESAB by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $1,895,000 after buying an additional 100 shares during the last quarter. Arizona State Retirement System increased its position in ESAB by 0.8% during the 4th quarter. Arizona State Retirement System now owns 16,664 shares of the company's stock valued at $1,999,000 after buying an additional 135 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $66,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.

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ESAB Stock Up 0.5 %

Shares of ESAB traded up $0.56 during midday trading on Tuesday, hitting $116.02. The company had a trading volume of 58,202 shares, compared to its average volume of 275,668. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97. The firm has a market capitalization of $7.03 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.01 and a beta of 1.37. 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's 50-day simple moving average is $120.13 and its 200-day simple moving average is $120.58.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $633.20 million for the quarter, compared to analysts' expectations of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. As a group, sell-side analysts expect that ESAB Co. will post 5.16 EPS for the current year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, April 4th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Friday, April 4th. ESAB's dividend payout ratio is currently 7.41%.

Analysts Set New Price Targets

ESAB has been the topic of several research reports. Stifel Nicolaus cut their target price on ESAB from $125.00 to $109.00 and set a "hold" rating on the stock in a research report on Monday. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and increased their price objective for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and decreased their target price for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. upped their target price on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, ESAB presently has a consensus rating of "Moderate Buy" and an average target price of $133.75.

ESAB 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.