Natixis Advisors LLC bought a new stake in ESAB Co. (NYSE:ESAB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,078 shares of the company's stock, valued at approximately $1,928,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank increased its position in shares of ESAB by 0.7% in the 4th quarter. Swiss National Bank now owns 112,900 shares of the company's stock valued at $13,541,000 after purchasing an additional 800 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock valued at $26,000 after buying an additional 90 shares during the last quarter. HighTower Advisors LLC increased its holdings in ESAB by 122.3% in the fourth quarter. HighTower Advisors LLC now owns 4,535 shares of the company's stock valued at $544,000 after buying an additional 2,495 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in ESAB in the fourth quarter valued at $1,071,000. Finally, Johnson Investment Counsel Inc. purchased a new stake in ESAB during the 4th quarter worth about $2,343,000. Institutional investors and hedge funds own 91.13% of the company's stock.
Wall Street Analyst Weigh In
ESAB has been the topic of several research analyst reports. Evercore ISI upgraded ESAB from an "underperform" rating to an "inline" rating and decreased 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 shares of ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus cut their price target on shares of ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, ESAB has a consensus rating of "Moderate Buy" and a consensus target price of $134.14.
Check Out Our Latest Stock Report on ESAB
ESAB Stock Performance
Shares of ESAB stock traded down $3.66 during trading on Friday, reaching $115.92. The company's stock had a trading volume of 353,895 shares, compared to its average volume of 269,110. The company has a 50-day moving average price of $122.69 and a two-hundred day moving average price of $119.50. ESAB Co. has a fifty-two week low of $88.54 and a fifty-two week high of $135.97. The firm has a market cap of $7.02 billion, a PE ratio of 26.83, a P/E/G ratio of 2.01 and a beta of 1.36. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59.
ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $636.43 million. On average, analysts forecast that ESAB Co. will post 5.16 EPS for the current year.
ESAB Dividend Announcement
The business 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 dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. ESAB's payout ratio is 7.41%.
ESAB Profile
(
Free Report)
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.
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