Captrust Financial Advisors Sells 4,813 Shares of ESAB Co. (NYSE:ESAB)

Captrust Financial Advisors lessened its position in ESAB Co. (NYSE:ESAB - Free Report) by 49.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,958 shares of the company's stock after selling 4,813 shares during the quarter. Captrust Financial Advisors' holdings in ESAB were worth $527,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of ESAB. GAMMA Investing LLC increased its holdings 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. Hantz Financial Services Inc. acquired a new position in shares of ESAB during the 2nd quarter worth about $42,000. Quest Partners LLC raised its holdings in shares of ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company's stock valued at $65,000 after purchasing an additional 607 shares during the period. Blue Trust Inc. lifted its stake in ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company's stock valued at $65,000 after purchasing an additional 529 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in ESAB in the 2nd quarter valued at about $92,000. Institutional investors own 91.13% of the company's stock.

ESAB Price Performance

Shares of NYSE ESAB traded down $0.76 during midday trading on Thursday, reaching $128.06. The company's stock had a trading volume of 139,729 shares, compared to its average volume of 253,975. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. The company has a market cap of $7.74 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.25 and a beta of 1.34. The business's 50 day moving average price is $121.29 and its two-hundred day moving average price is $106.44. ESAB Co. has a fifty-two week low of $81.86 and a fifty-two 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 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $620.50 million. During the same period in the prior year, the company posted $1.08 EPS. The company's revenue was down 1.2% compared to the same quarter last year. On average, analysts forecast that ESAB Co. will post 4.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on ESAB shares. Jefferies Financial Group assumed coverage on ESAB in a research report on Thursday. They set a "buy" rating and a $160.00 price target on the stock. Loop Capital increased their price target on ESAB from $105.00 to $120.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Oppenheimer reaffirmed an "outperform" rating and set a $144.00 price objective (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus downgraded shares of ESAB from a "buy" rating to a "hold" rating and reduced their target price for the stock from $138.00 to $130.00 in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $133.43.

Insider Buying and Selling at ESAB

In other news, Director Rhonda L. Jordan sold 4,254 shares of the business's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shyam Kambeyanda sold 59,120 shares of the company's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total value of $7,269,395.20. Following the sale, the chief executive officer now owns 53,902 shares of the company's stock, valued at approximately $6,627,789.92. This represents a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,418 shares of company stock valued at $8,431,773 in the last ninety days. 7.00% of the stock is currently owned by company insiders.

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.