2,773 Shares in ESAB Co. (NYSE:ESAB) Purchased by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in ESAB Co. (NYSE:ESAB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,773 shares of the company's stock, valued at approximately $333,000.

A number of other institutional investors also recently modified their holdings of ESAB. FMR LLC boosted its position in shares of ESAB by 6.2% during the 3rd quarter. FMR LLC now owns 2,196,522 shares of the company's stock valued at $233,512,000 after purchasing an additional 127,714 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock worth $202,001,000 after buying an additional 337,983 shares in the last quarter. State Street Corp boosted its holdings in shares of ESAB by 3.4% during the 3rd quarter. State Street Corp now owns 1,692,161 shares of the company's stock worth $180,028,000 after buying an additional 55,458 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ESAB by 19.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company's stock worth $123,353,000 after buying an additional 190,583 shares during the period. Finally, TimesSquare Capital Management LLC increased its stake in shares of ESAB by 104.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 839,685 shares of the company's stock valued at $100,712,000 after acquiring an additional 428,770 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

ESAB Stock Down 3.1 %

ESAB traded down $3.66 during mid-day trading on Friday, reaching $115.92. 353,895 shares of the stock were exchanged, compared to its average volume of 268,776. The company has a 50 day moving average price of $122.69 and a two-hundred day moving average price of $119.67. The stock has a market capitalization of $7.02 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.13. The business had revenue of $633.20 million for 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, research analysts anticipate that ESAB Co. will post 5.16 EPS for the current year.

ESAB Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Friday, April 4th. ESAB's payout ratio is 7.41%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and cut their target price for the stock from $122.00 to $120.00 in a research note on Monday, February 24th. Jefferies Financial Group started coverage on ESAB in a report on Thursday, December 12th. They issued a "buy" rating and a $160.00 price target on the stock. Stifel Nicolaus reduced their price objective on shares of ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of ESAB from $133.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, ESAB has a consensus rating of "Moderate Buy" and a consensus price target of $134.14.

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.