Rheos Capital Works Inc. Trims Stake in ESAB Co. (NYSE:ESAB)

Rheos Capital Works Inc. lessened its holdings in ESAB Co. (NYSE:ESAB - Free Report) by 33.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,166 shares of the company's stock after selling 15,500 shares during the period. Rheos Capital Works Inc. owned about 0.05% of ESAB worth $3,738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in shares of 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 in the last quarter. Van ECK Associates Corp grew its stake in ESAB by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 31,712 shares of the company's stock valued at $3,536,000 after acquiring an additional 9,062 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in ESAB in the 4th quarter worth $204,000. First Citizens Bank & Trust Co. acquired a new position in ESAB during the fourth quarter worth $254,000. Finally, Barclays PLC lifted its holdings in ESAB by 46.7% during the third quarter. Barclays PLC now owns 31,513 shares of the company's stock valued at $3,349,000 after purchasing an additional 10,027 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company's stock.

ESAB Trading Up 2.2 %

NYSE:ESAB traded up $2.68 during trading hours on Thursday, hitting $124.50. The company had a trading volume of 202,516 shares, compared to its average volume of 194,734. ESAB Co. has a 1 year low of $87.12 and a 1 year high of $135.97. The company has a market cap of $7.53 billion, a P/E ratio of 29.16, a P/E/G ratio of 1.99 and a beta of 1.36. The company has a 50-day moving average of $123.54 and a 200 day moving average of $113.52. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58.

ESAB Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB's payout ratio is currently 7.49%.

Analyst Ratings Changes

Several research firms recently weighed in on ESAB. Loop Capital upped their price target on shares of ESAB from $105.00 to $120.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Jefferies Financial Group started coverage on ESAB in a report on Thursday, December 12th. They set a "buy" rating and a $160.00 target price for the company. Evercore ISI lowered ESAB from an "in-line" rating to an "underperform" rating and lifted their price target for the stock from $102.00 to $122.00 in a research note on Wednesday, November 13th. Stifel Nicolaus increased their price objective on ESAB from $130.00 to $131.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $144.00 target price (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $133.57.

About ESAB

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.