ESAB Co. (NYSE:ESAB) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its position in shares of ESAB Co. (NYSE:ESAB - Free Report) by 20.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,703 shares of the company's stock after selling 2,750 shares during the quarter. Pacer Advisors Inc.'s holdings in ESAB were worth $1,284,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ESAB. JPMorgan Chase & Co. grew its stake in ESAB by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock valued at $202,001,000 after acquiring an additional 337,983 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of ESAB by 40.0% in the third quarter. Van ECK Associates Corp now owns 31,712 shares of the company's stock valued at $3,536,000 after purchasing an additional 9,062 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of ESAB in the fourth quarter valued at approximately $204,000. First Citizens Bank & Trust Co. purchased a new position in shares of ESAB during the 4th quarter worth approximately $254,000. Finally, Barclays PLC raised its position in shares of ESAB by 46.7% during the 3rd quarter. Barclays PLC now owns 31,513 shares of the company's stock worth $3,349,000 after purchasing an additional 10,027 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on ESAB. Evercore ISI cut ESAB from an "in-line" rating to an "underperform" rating and increased their target price for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. Oppenheimer reaffirmed an "outperform" rating and set a $144.00 price objective (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. Stifel Nicolaus upped their target price on shares of ESAB from $130.00 to $131.00 and gave the company a "hold" rating in a report on Friday, January 24th. Jefferies Financial Group assumed coverage on shares of ESAB in a report on Thursday, December 12th. They set a "buy" rating and a $160.00 price target for the company. Finally, Loop Capital upped their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $133.57.

ESAB Trading Up 2.2 %

ESAB stock traded up $2.68 on Thursday, hitting $124.50. 202,516 shares of the company were exchanged, compared to its average volume of 194,734. ESAB Co. has a twelve month low of $87.12 and a twelve month high of $135.97. The business's fifty day moving average is $123.54 and its two-hundred day moving average is $113.52. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 1.99 and a beta of 1.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Tuesday, December 31st. ESAB's dividend payout ratio (DPR) is presently 7.49%.

About ESAB

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.