Vanguard Group Inc. Purchases 20,741 Shares of ESAB Co. (NYSE:ESAB)

Vanguard Group Inc. increased its stake in ESAB Co. (NYSE:ESAB - Free Report) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,546,104 shares of the company's stock after buying an additional 20,741 shares during the quarter. Vanguard Group Inc. owned 9.17% of ESAB worth $665,200,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ESAB. EverSource Wealth Advisors LLC increased its position in ESAB by 70.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company's stock worth $26,000 after buying an additional 90 shares during the last quarter. ORG Wealth Partners LLC bought a new position in shares of ESAB during the 4th quarter worth $34,000. Trust Co. of Vermont increased its holdings in ESAB by 871.0% in the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company's stock worth $36,000 after acquiring an additional 270 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in ESAB in the 4th quarter valued at about $36,000. Finally, Quest Partners LLC lifted its holdings in ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company's stock valued at $65,000 after purchasing an additional 607 shares during the last quarter. Institutional investors own 91.13% of the company's stock.

ESAB Price Performance

NYSE:ESAB traded down $5.62 during trading hours on Friday, hitting $107.25. 490,209 shares of the company's stock traded hands, compared to its average volume of 270,290. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. The business's fifty day simple moving average is $121.82 and its two-hundred day simple moving average is $120.14. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. The firm has a market cap of $6.49 billion, a P/E ratio of 24.83, a P/E/G ratio of 2.01 and a beta of 1.36.

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ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.13. The firm had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. On average, research analysts anticipate that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, April 4th. ESAB's payout ratio is 7.41%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ESAB shares. Stifel Nicolaus reduced their target price on shares of ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a research note on Friday, February 21st. Jefferies Financial Group initiated coverage on shares of ESAB in a research note on Thursday, December 12th. They issued a "buy" rating and a $160.00 price objective for the company. UBS Group raised shares of ESAB from a "neutral" rating to a "buy" rating and boosted their target price for the company from $123.00 to $147.00 in a report on Tuesday. Evercore ISI raised ESAB from an "underperform" rating to an "inline" rating and cut their price target for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price objective on ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, ESAB has an average rating of "Moderate Buy" and an average target price of $135.75.

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.