Russell Investments Group Ltd. Reduces Stock Position in ESAB Co. (NYSE:ESAB)

Russell Investments Group Ltd. lessened its holdings in shares of ESAB Co. (NYSE:ESAB - Free Report) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,399 shares of the company's stock after selling 11,222 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of ESAB worth $9,163,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ESAB. EverSource Wealth Advisors LLC grew its stake in ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $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 valued at approximately $34,000. Trust Co. of Vermont increased its holdings in ESAB by 871.0% in the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company's stock worth $36,000 after buying an additional 270 shares during the period. SBI Securities Co. Ltd. purchased a new position in ESAB during the 4th quarter worth approximately $36,000. Finally, GAMMA Investing LLC boosted its holdings in shares of ESAB by 33.9% in the 4th quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $66,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Price Performance

ESAB stock traded down $0.12 during trading on Tuesday, reaching $115.34. The company had a trading volume of 188,968 shares, compared to its average volume of 276,179. 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 firm's 50-day simple moving average is $119.94 and its 200 day simple moving average is $120.55. The firm has a market capitalization of $6.99 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97.

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ESAB (NYSE:ESAB - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.13. The business had revenue of $633.20 million during the quarter, compared to analysts' expectations of $636.43 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. As a group, equities research analysts anticipate that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The company 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Friday, April 4th. ESAB's payout ratio is 7.41%.

Wall Street Analysts Forecast Growth

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

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.