ESAB Co. (NYSE:ESAB) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in ESAB Co. (NYSE:ESAB - Free Report) by 19.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,160,056 shares of the company's stock after acquiring an additional 190,583 shares during the period. Geode Capital Management LLC owned 1.92% of ESAB worth $123,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in ESAB. GAMMA Investing LLC raised its stake in ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company's stock valued at $44,000 after acquiring an additional 147 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of ESAB during the second quarter worth $42,000. Quest Partners LLC grew its position in 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 buying an additional 607 shares during the last quarter. Blue Trust Inc. increased 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 buying an additional 529 shares during the period. Finally, Millburn Ridgefield Corp purchased a new position in ESAB during the 3rd quarter worth $77,000. Hedge funds and other institutional investors own 91.13% of the company's stock.

Insider Activity

In other ESAB news, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the transaction, the chief executive officer now owns 53,902 shares of the company's stock, valued at $6,627,789.92. This trade represents a 52.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rhonda L. Jordan sold 4,254 shares of the company's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value of $531,877.62. The disclosure for this sale can be found here. Insiders sold a total of 68,418 shares of company stock valued at $8,431,773 over the last 90 days. Insiders own 7.20% of the company's stock.

ESAB Stock Down 0.8 %

Shares of NYSE ESAB opened at $129.51 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.25. The firm's 50-day moving average is $122.33 and its two-hundred day moving average is $106.89. ESAB Co. has a 12-month low of $82.44 and a 12-month high of $135.97. The company has a market capitalization of $7.83 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.25 and a beta of 1.34.

ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.13. The firm had revenue of $673.00 million for the quarter, compared to analysts' expectations of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. ESAB's quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.08 EPS. Equities analysts anticipate that ESAB Co. will post 4.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ESAB shares. Stifel Nicolaus downgraded shares of ESAB from a "buy" rating to a "hold" rating and lowered their target price for the company from $138.00 to $130.00 in a report on Monday, November 18th. JPMorgan Chase & Co. raised their price target on ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Jefferies Financial Group assumed coverage on ESAB in a research note on Thursday, December 12th. They issued a "buy" rating and a $160.00 price target on the stock. Oppenheimer restated an "outperform" rating and set a $144.00 target price (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. Finally, Loop Capital raised 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 research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, ESAB presently has an average rating of "Hold" and an average target price of $133.43.

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.