ESAB Co. (NYSE:ESAB) Stock Holdings Cut by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. cut its position in shares of ESAB Co. (NYSE:ESAB - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,897,757 shares of the company's stock after selling 281,233 shares during the quarter. T. Rowe Price Investment Management Inc. owned 14.72% of ESAB worth $1,067,197,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on ESAB shares. UBS Group raised ESAB from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $123.00 to $147.00 in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lifted their target price 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. Evercore ISI upgraded shares of ESAB from an "underperform" rating to an "inline" rating and reduced their price target for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Finally, Stifel Nicolaus lowered their price objective on shares of ESAB from $125.00 to $109.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $133.75.

ESAB Stock Up 2.9 %

ESAB stock opened at $112.96 on Wednesday. The company has a 50 day moving average of $118.79 and a two-hundred day moving average of $120.84. The company has a market cap of $6.85 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.01 and a beta of 1.37. ESAB Co. has a 12-month low of $88.54 and a 12-month high of $135.97. 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 (NYSE:ESAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The business had revenue of $633.20 million during the quarter, compared to analyst estimates of $636.43 million. On average, equities 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 was paid on Thursday, April 17th. Investors of record on Friday, April 4th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. ESAB's payout ratio is 7.41%.

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.

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