TimesSquare Capital Management LLC grew its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 104.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,685 shares of the company's stock after acquiring an additional 428,770 shares during the period. ESAB comprises approximately 1.5% of TimesSquare Capital Management LLC's holdings, making the stock its 11th biggest position. TimesSquare Capital Management LLC owned 1.39% of ESAB worth $100,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the business. Louisiana State Employees Retirement System lifted its position in shares of ESAB by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $1,895,000 after buying an additional 100 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of ESAB by 33.9% in the 4th quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $66,000 after buying an additional 139 shares during the last quarter. Legacy Capital Group California Inc. lifted its position in shares of ESAB by 8.5% in the 3rd quarter. Legacy Capital Group California Inc. now owns 2,320 shares of the company's stock worth $247,000 after buying an additional 181 shares during the last quarter. Asset Management One Co. Ltd. lifted its position 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 worth $119,000 after buying an additional 190 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of ESAB by 5.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,912 shares of the company's stock worth $416,000 after buying an additional 218 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
ESAB has been the topic of several recent research reports. Stifel Nicolaus cut their price objective on shares of ESAB from $131.00 to $125.00 and set a "hold" rating on the stock in a research report on Friday. Loop Capital lifted their price objective on shares of ESAB from $105.00 to $120.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Oppenheimer reiterated an "outperform" rating and issued a $144.00 price objective (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. Jefferies Financial Group initiated coverage on shares of ESAB in a research report on Thursday, December 12th. They issued a "buy" rating and a $160.00 price objective on the stock. Finally, Evercore ISI downgraded shares of ESAB from an "in-line" rating to an "underperform" rating and lifted their price objective for the company from $102.00 to $122.00 in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $133.43.
Check Out Our Latest Analysis on ESAB
ESAB Price Performance
ESAB stock traded down $0.04 during trading hours on Friday, hitting $120.07. 329,784 shares of the company traded hands, compared to its average volume of 221,044. The firm has a market cap of $7.26 billion, a P/E ratio of 28.12, a P/E/G ratio of 2.02 and a beta of 1.36. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The firm's 50-day simple moving average is $122.57 and its two-hundred day simple moving average is $115.61. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97.
ESAB (NYSE:ESAB - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.15 by $0.13. The firm had revenue of $633.20 million for the quarter, compared to analysts' expectations of $636.43 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. As a group, analysts forecast that ESAB Co. will post 4.92 earnings per share for the current fiscal year.
ESAB Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.27%. ESAB's payout ratio is 7.49%.
ESAB 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.
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