ESAB Co. (NYSE:ESAB) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC cut its stake in ESAB Co. (NYSE:ESAB - Free Report) by 29.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,434 shares of the company's stock after selling 11,280 shares during the period. Janus Henderson Group PLC's holdings in ESAB were worth $2,915,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. acquired a new position in shares of ESAB in the 2nd quarter worth approximately $42,000. GAMMA Investing LLC boosted its holdings in ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company's stock worth $44,000 after purchasing an additional 147 shares during the period. Blue Trust Inc. increased its stake in ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company's stock valued at $65,000 after purchasing an additional 529 shares during the last quarter. Quest Partners LLC lifted its position in shares of ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company's stock worth $65,000 after buying an additional 607 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of ESAB in the 2nd quarter valued at about $92,000. 91.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ESAB shares. JPMorgan Chase & Co. increased their price objective on shares of ESAB from $120.00 to $128.00 and gave the stock an "overweight" rating in a research note on Monday, September 30th. Oppenheimer reissued an "outperform" rating and issued a $144.00 price target (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Stifel Nicolaus lowered ESAB from a "buy" rating to a "hold" rating and reduced their price objective for the company from $138.00 to $130.00 in a research report on Monday, November 18th. Loop Capital increased their target price on ESAB from $105.00 to $120.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group initiated coverage on ESAB in a research note on Thursday. They issued a "buy" rating and a $160.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, ESAB presently has a consensus rating of "Hold" and a consensus price target of $133.43.

ESAB Stock Performance

ESAB traded down $0.76 during trading hours on Thursday, hitting $128.06. The company's stock had a trading volume of 139,729 shares, compared to its average volume of 253,975. The company has a 50-day simple moving average of $121.29 and a 200 day simple moving average of $106.44. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $7.74 billion, a PE ratio of 29.99, a PEG ratio of 2.25 and a beta of 1.34. ESAB Co. has a fifty-two week low of $81.86 and a fifty-two week high of $135.97.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly 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 company had revenue of $673.00 million for the quarter, compared to analyst estimates of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The company's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. As a group, sell-side analysts expect that ESAB Co. will post 4.94 EPS for the current year.

Insider Buying and Selling at ESAB

In other news, Director Rhonda L. Jordan sold 4,254 shares of the business'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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total value of $7,269,395.20. Following the transaction, the chief executive officer now directly owns 53,902 shares of the company's stock, valued at $6,627,789.92. This represents a 52.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,418 shares of company stock valued at $8,431,773. Company insiders own 7.00% of the company's stock.

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.