State Street Corp Has $180.03 Million Stock Holdings in ESAB Co. (NYSE:ESAB)

State Street Corp increased its stake in ESAB Co. (NYSE:ESAB - Free Report) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,692,161 shares of the company's stock after purchasing an additional 55,458 shares during the quarter. State Street Corp owned approximately 2.80% of ESAB worth $180,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company's stock worth $44,000 after buying an additional 147 shares during the period. Legacy Capital Group California Inc. boosted its position in ESAB by 8.5% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,139 shares of the company's stock worth $202,000 after acquiring an additional 168 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in ESAB by 5.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company's stock valued at $362,000 after acquiring an additional 185 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of ESAB by 20.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company's stock valued at $119,000 after purchasing an additional 190 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its position in shares of ESAB by 5.9% in the third quarter. Crossmark Global Holdings Inc. now owns 3,912 shares of the company's stock worth $416,000 after purchasing an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company's stock.

ESAB Stock Down 0.3 %

ESAB stock traded down $0.35 during mid-day trading on Friday, hitting $127.71. 272,557 shares of the company's stock were exchanged, compared to its average volume of 254,052. ESAB Co. has a 1-year low of $82.44 and a 1-year high of $135.97. The stock has a 50 day moving average of $121.78 and a two-hundred day moving average of $106.61. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The stock has a market cap of $7.72 billion, a P/E ratio of 29.91, a P/E/G ratio of 2.25 and a beta of 1.34.

ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.13. The business had revenue of $673.00 million for the quarter, compared to the consensus estimate of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The firm's revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $1.08 EPS. As a group, analysts anticipate that ESAB Co. will post 4.94 EPS for the current fiscal year.

Insider Transactions at ESAB

In other news, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $122.96, for a total value of $7,269,395.20. Following the completion of the sale, the chief executive officer now directly owns 53,902 shares of the company's stock, valued at approximately $6,627,789.92. This represents a 52.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rhonda L. Jordan sold 4,254 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,418 shares of company stock worth $8,431,773. 7.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Jefferies Financial Group started coverage on shares of ESAB in a research report on Thursday. They set a "buy" rating and a $160.00 price objective on the stock. Oppenheimer reaffirmed an "outperform" rating and issued a $144.00 price target (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Stifel Nicolaus cut ESAB from a "buy" rating to a "hold" rating and reduced their price objective for the company from $138.00 to $130.00 in a research report on Monday, November 18th. JPMorgan Chase & Co. boosted their target price on ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. Finally, Loop Capital raised their price target on ESAB from $105.00 to $120.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, ESAB currently has a consensus rating of "Hold" and a consensus target price of $133.43.

ESAB Company 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.