Proficio Capital Partners LLC purchased 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 fund purchased 21,469 shares of the company's stock, valued at approximately $2,575,000.
A number of other large investors have also recently made changes to their positions in ESAB. Van ECK Associates Corp grew its stake in shares of ESAB by 40.0% in the third quarter. Van ECK Associates Corp now owns 31,712 shares of the company's stock worth $3,536,000 after acquiring an additional 9,062 shares during the period. Asset Management One Co. Ltd. grew its position in ESAB by 20.4% during the third quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company's stock valued at $119,000 after buying an additional 190 shares during the period. Hudson Value Partners LLC grew its position in ESAB by 9.0% during the third quarter. Hudson Value Partners LLC now owns 48,401 shares of the company's stock valued at $5,146,000 after buying an additional 3,979 shares during the period. Atria Investments Inc grew its position 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 buying an additional 2,093 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in ESAB by 5.9% during the third quarter. Crossmark Global Holdings Inc. now owns 3,912 shares of the company's stock valued at $416,000 after buying an additional 218 shares during the period. 91.13% of the stock is currently owned by institutional investors.
ESAB Price Performance
NYSE:ESAB traded up $1.82 during trading hours on Friday, hitting $122.33. 180,701 shares of the stock traded hands, compared to its average volume of 238,945. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The stock has a 50 day moving average price of $122.27 and a 200 day moving average price of $117.39.
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, beating 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 business had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. Sell-side analysts forecast that ESAB Co. will post 5.16 EPS for the current fiscal year.
ESAB Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, April 4th. ESAB's dividend payout ratio (DPR) is presently 7.41%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on ESAB. Evercore ISI upgraded shares of ESAB from an "underperform" rating to an "inline" rating and cut their target price for the company from $122.00 to $120.00 in a research 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 for the company in a research report on Friday, February 21st. JPMorgan Chase & Co. cut their target price on shares of ESAB from $135.00 to $133.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Jefferies Financial Group assumed coverage on shares of ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 target price for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, ESAB has an average rating of "Moderate Buy" and an average price target of $133.14.
Check Out Our Latest Analysis 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.
See Also
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
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
