TimesSquare Capital Management LLC Has $43.68 Million Stake in ESAB Co. (NYSE:ESAB)

TimesSquare Capital Management LLC lessened its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 410,915 shares of the company's stock after selling 18,155 shares during the quarter. TimesSquare Capital Management LLC owned about 0.68% of ESAB worth $43,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of ESAB by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,424,115 shares of the company's stock worth $710,316,000 after purchasing an additional 653,377 shares during the last quarter. TD Asset Management Inc grew its position in ESAB by 5.4% in the second quarter. TD Asset Management Inc now owns 531,122 shares of the company's stock worth $50,154,000 after buying an additional 27,202 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of ESAB by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 490,532 shares of the company's stock valued at $46,321,000 after buying an additional 21,025 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of ESAB by 7.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company's stock valued at $49,595,000 after acquiring an additional 34,161 shares during the last quarter. Finally, Champlain Investment Partners LLC acquired a new position in shares of ESAB in the 1st quarter worth $33,811,000. Institutional investors own 91.13% of the company's stock.

ESAB Stock Down 0.9 %

Shares of NYSE ESAB traded down $1.16 during mid-day trading on Friday, reaching $131.22. The company had a trading volume of 258,318 shares, compared to its average volume of 314,505. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. ESAB Co. has a twelve month low of $75.24 and a twelve month high of $135.97. The stock's 50 day moving average is $108.64 and its 200-day moving average is $102.90. The stock has a market capitalization of $7.93 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.33 and a beta of 1.37.

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

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Friday, September 27th. ESAB's payout ratio is presently 7.49%.

Insider Buying and Selling

In other news, Director Rhonda L. Jordan sold 4,254 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Shyam Kambeyanda sold 59,120 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now directly owns 53,902 shares of the company's stock, valued at approximately $6,627,789.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total value 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. Corporate insiders own 7.00% of the company's stock.

Analyst Upgrades and Downgrades

ESAB has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on ESAB from $120.00 to $128.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Loop Capital raised their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Stifel Nicolaus cut their price target on shares of ESAB from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, July 18th. Oppenheimer reiterated an "outperform" rating and set a $144.00 price objective (up from $138.00) on shares of ESAB in a research report on Friday. Finally, Bank of America increased their target price on ESAB from $115.00 to $130.00 and gave the company a "buy" rating in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $119.86.

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.