Vontobel Holding Ltd. Sells 4,995 Shares of ESAB Co. (NYSE:ESAB)

Vontobel Holding Ltd. reduced its stake in shares of ESAB Co. (NYSE:ESAB - Free Report) by 28.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,851 shares of the company's stock after selling 4,995 shares during the quarter. Vontobel Holding Ltd.'s holdings in ESAB were worth $1,541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ESAB. ORG Wealth Partners LLC bought a new stake in ESAB during the 4th quarter worth about $34,000. Trust Co. of Vermont grew its position in shares of ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company's stock worth $36,000 after buying an additional 270 shares during the period. Blue Trust Inc. grew its position in shares of ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company's stock worth $65,000 after buying an additional 529 shares during the period. Quest Partners LLC raised its stake in shares of ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company's stock worth $65,000 after buying an additional 607 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $66,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 91.13% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on ESAB. Stifel Nicolaus dropped their target price on shares of ESAB from $131.00 to $125.00 and set a "hold" rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on ESAB from $135.00 to $133.00 and set an "overweight" rating for the company in a report on Friday. Oppenheimer reissued an "outperform" rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. Jefferies Financial Group started coverage on ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 target price for the company. Finally, Loop Capital increased their price target 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $133.43.

ESAB Stock Performance

Shares of ESAB stock traded down $0.04 during trading on Friday, reaching $120.07. The company's stock had a trading volume of 329,784 shares, compared to its average volume of 221,044. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. The firm has a market cap of $7.26 billion, a PE ratio of 28.12, a P/E/G ratio of 2.02 and a beta of 1.36. The business's 50-day moving average price is $122.57 and its 200-day moving average price is $115.61. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58.

ESAB (NYSE:ESAB - Get Free Report) last posted its quarterly earnings data 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. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. Equities analysts forecast that ESAB Co. will post 4.92 earnings per share for the current year.

ESAB Announces Dividend

The business also recently disclosed 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 was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. ESAB's dividend payout ratio (DPR) is presently 7.49%.

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.