Kestra Investment Management LLC Takes Position in ESAB Co. (NYSE:ESAB)

Kestra Investment Management LLC acquired a new position in ESAB Co. (NYSE:ESAB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,068 shares of the company's stock, valued at approximately $488,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESAB. Blue Trust Inc. increased its position in ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company's stock worth $65,000 after purchasing an additional 529 shares during the period. Allspring Global Investments Holdings LLC increased its position in ESAB by 7.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company's stock worth $49,595,000 after purchasing an additional 34,161 shares during the period. International Assets Investment Management LLC acquired a new stake in ESAB in the third quarter worth about $15,110,000. Legacy Capital Group California Inc. increased its position in ESAB by 8.5% in the third quarter. Legacy Capital Group California Inc. now owns 2,320 shares of the company's stock worth $247,000 after purchasing an additional 181 shares during the period. Finally, State of Alaska Department of Revenue increased its position in ESAB by 1.3% in the third quarter. State of Alaska Department of Revenue now owns 33,463 shares of the company's stock worth $3,556,000 after purchasing an additional 445 shares during the period. 91.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ESAB. Evercore ISI lowered ESAB from an "in-line" rating to an "underperform" rating and lifted their price objective for the stock from $102.00 to $122.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their target price on ESAB from $135.00 to $133.00 and set an "overweight" rating for the company in a research report on Friday. 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. Jefferies Financial Group started coverage on ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 target price for the company. Finally, Stifel Nicolaus decreased their target price on ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $133.43.

ESAB Stock Down 0.0 %

Shares of NYSE:ESAB traded down $0.04 during trading on Friday, hitting $120.07. 329,784 shares of the company's stock traded hands, compared to its average volume of 221,044. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. 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 company has a market cap of $7.26 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. The company has a 50-day moving average price of $122.72 and a 200-day moving average price of $115.42.

ESAB (NYSE:ESAB - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business had revenue of $633.20 million for the quarter, compared to analysts' expectations of $636.43 million. As a group, research analysts forecast that ESAB Co. will post 4.92 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB's dividend payout ratio (DPR) is presently 7.49%.

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.