Natixis Advisors LLC Takes Position in ESAB Co. (NYSE:ESAB)

Natixis Advisors LLC acquired a new stake in shares of ESAB Co. (NYSE:ESAB - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,078 shares of the company's stock, valued at approximately $1,928,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in ESAB by 6.2% in the 3rd quarter. FMR LLC now owns 2,196,522 shares of the company's stock worth $233,512,000 after buying an additional 127,714 shares in the last quarter. JPMorgan Chase & Co. boosted its position in ESAB by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock valued at $202,001,000 after buying an additional 337,983 shares during the last quarter. State Street Corp lifted its position 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 valued at $180,028,000 after buying an additional 55,458 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 190,583 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its position in shares of ESAB by 104.3% during the fourth 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 during the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Price Performance

Shares of NYSE:ESAB remained flat at $122.89 during midday trading on Tuesday. The stock had a trading volume of 287,544 shares, compared to its average volume of 258,334. The business has a 50-day simple moving average of $122.90 and a two-hundred day simple moving average of $119.14. ESAB Co. has a 52-week low of $88.54 and a 52-week high of $135.97. The firm has a market cap of $7.44 billion, a P/E ratio of 28.45, 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.

Remove Ads

ESAB (NYSE:ESAB - Get Free Report) last issued 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. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The company had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. Research analysts expect that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Friday, April 4th. ESAB's dividend payout ratio (DPR) is 7.41%.

Wall Street Analysts Forecast Growth

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

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.