Proficio Capital Partners LLC Makes New Investment in ESAB Co. (NYSE:ESAB)

Proficio Capital Partners LLC purchased a new stake in shares of ESAB Co. (NYSE:ESAB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,469 shares of the company's stock, valued at approximately $2,575,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ESAB. Atria Investments Inc increased its stake in ESAB by 41.5% during the third quarter. Atria Investments Inc now owns 7,132 shares of the company's stock valued at $758,000 after acquiring an additional 2,093 shares during the period. Sumitomo Mitsui Trust Group Inc. bought a new position in ESAB during the third quarter valued at about $278,000. Victory Capital Management Inc. increased its stake in ESAB by 7.7% during the third quarter. Victory Capital Management Inc. now owns 27,878 shares of the company's stock valued at $2,964,000 after acquiring an additional 1,996 shares during the period. KBC Group NV increased its stake in ESAB by 20.7% during the third quarter. KBC Group NV now owns 1,531 shares of the company's stock valued at $163,000 after acquiring an additional 263 shares during the period. Finally, Quest Partners LLC boosted its holdings in ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company's stock valued at $65,000 after purchasing an additional 607 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Price Performance

Shares of ESAB traded down $1.59 on Friday, hitting $118.79. The company's stock had a trading volume of 443,348 shares, compared to its average volume of 258,109. The company has a market capitalization of $7.19 billion, a PE ratio of 27.50, a PEG ratio of 2.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. ESAB Co. has a fifty-two week low of $88.54 and a fifty-two week high of $135.97. The company has a 50 day moving average price of $122.78 and a 200 day moving average price of $118.65.

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ESAB (NYSE:ESAB - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.15 by $0.13. The business had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. On average, research analysts anticipate 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 issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Friday, April 4th. ESAB's dividend payout ratio is 7.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday. Stifel Nicolaus decreased their price objective on ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and decreased their price objective for the company from $122.00 to $120.00 in a report on Monday, February 24th. Finally, Jefferies Financial Group assumed coverage on ESAB in a report on Thursday, December 12th. They set a "buy" rating and a $160.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, ESAB currently has a consensus rating of "Moderate Buy" and a consensus target price 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.