Invesco Ltd. Buys 318,018 Shares of ESAB Co. (NYSE:ESAB)

Invesco Ltd. increased its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 17.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,097,624 shares of the company's stock after acquiring an additional 318,018 shares during the quarter. Invesco Ltd. owned about 3.47% of ESAB worth $251,589,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position in ESAB by 21.6% during 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. SBI Securities Co. Ltd. acquired a new stake in shares of ESAB in the 4th quarter worth $36,000. Advantage Alpha Capital Partners LP boosted its holdings in shares of ESAB by 8.5% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 32,775 shares of the company's stock valued at $3,931,000 after acquiring an additional 2,571 shares in the last quarter. Atria Investments Inc increased its stake in shares of ESAB by 30.1% during the fourth quarter. Atria Investments Inc now owns 9,279 shares of the company's stock worth $1,113,000 after acquiring an additional 2,147 shares during the period. Finally, First Citizens Bank & Trust Co. purchased a new position in ESAB during the fourth quarter worth about $254,000. 91.13% of the stock is owned by institutional investors and hedge funds.

ESAB Stock Performance

NYSE ESAB traded up $0.20 during midday trading on Tuesday, hitting $115.66. The company had a trading volume of 92,690 shares, compared to its average volume of 275,852. The firm has a fifty day simple moving average of $120.13 and a two-hundred day simple moving average of $120.58. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 2.01 and a beta of 1.37. 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 fifty-two week low of $88.54 and a fifty-two week high of $135.97.

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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, topping the consensus estimate of $1.15 by $0.13. The company had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. Equities analysts forecast that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

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 given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.28%. The ex-dividend date is Friday, April 4th. ESAB's dividend payout ratio (DPR) is presently 7.41%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ESAB. JPMorgan Chase & Co. increased their target price on ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and raised their target price for the company from $123.00 to $147.00 in a report on Tuesday, April 1st. Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and lowered their price target for the stock from $122.00 to $120.00 in a research note on Monday, February 24th. Finally, Stifel Nicolaus decreased their price objective on shares of ESAB from $125.00 to $109.00 and set a "hold" rating on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, 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.