Primecap Management Co. CA cut its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 39.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,067 shares of the company's stock after selling 2,600 shares during the period. Primecap Management Co. CA's holdings in ESAB were worth $488,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its position in shares of ESAB by 70.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after acquiring an additional 90 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in ESAB during the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. purchased a new stake in ESAB during the 4th quarter worth approximately $36,000. Trust Co. of Vermont raised its position in shares of ESAB by 871.0% in the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company's stock valued at $36,000 after purchasing an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of ESAB by 33.9% during the 4th quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $66,000 after buying an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.
ESAB Stock Performance
Shares of NYSE:ESAB traded up $3.81 on Monday, hitting $122.77. The company's stock had a trading volume of 304,606 shares, compared to its average volume of 258,393. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 28.42, 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 12 month low of $88.54 and a 12 month high of $135.97. The stock's 50-day moving average is $122.78 and its two-hundred day moving average is $118.95.
ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.13. The firm had revenue of $633.20 million during the quarter, compared to analyst estimates of $636.43 million. ESAB had a net margin of 9.66% and a return on equity of 17.43%. On average, equities research analysts forecast that ESAB Co. will post 5.16 EPS for the current year.
ESAB Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Friday, April 4th. ESAB's payout ratio is currently 7.41%.
Analyst Ratings Changes
Several analysts recently issued reports on ESAB shares. Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and cut their price target for the company from $122.00 to $120.00 in a report on Monday, February 24th. Stifel Nicolaus cut their target price 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. Jefferies Financial Group began coverage on ESAB in a research note on Thursday, December 12th. They issued a "buy" rating and a $160.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, ESAB has an average rating of "Moderate Buy" and a consensus target price of $134.14.
Get Our Latest Report on ESAB
ESAB Company 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.
Featured Stories
Before you consider ESAB, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ESAB wasn't on the list.
While ESAB currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
