Wealthfront Advisers LLC purchased a new position in ESAB Co. (NYSE:ESAB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,929 shares of the company's stock, valued at approximately $1,071,000.
A number of other large investors have also recently made changes to their positions in the stock. FMR LLC grew its stake in shares of ESAB by 6.2% in the third quarter. FMR LLC now owns 2,196,522 shares of the company's stock worth $233,512,000 after acquiring an additional 127,714 shares during the period. JPMorgan Chase & Co. grew its stake in shares of ESAB by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company's stock worth $202,001,000 after acquiring an additional 337,983 shares during the period. State Street Corp grew its stake in shares of ESAB by 3.4% in the third quarter. State Street Corp now owns 1,692,161 shares of the company's stock worth $180,028,000 after acquiring an additional 55,458 shares during the period. Geode Capital Management LLC grew its stake in shares of ESAB by 19.7% in the third quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company's stock worth $123,353,000 after acquiring an additional 190,583 shares during the period. Finally, Champlain Investment Partners LLC grew its stake in shares of ESAB by 33.5% in the third quarter. Champlain Investment Partners LLC now owns 1,081,639 shares of the company's stock worth $114,989,000 after acquiring an additional 271,459 shares during the period. 91.13% of the stock is currently owned by institutional investors.
ESAB Price Performance
NYSE:ESAB traded up $2.69 during trading hours on Wednesday, hitting $122.46. 590,847 shares of the stock traded hands, compared to its average volume of 258,864. The company has a quick ratio of 1.25, a current ratio of 1.82 and a debt-to-equity ratio of 0.59. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The stock has a 50 day moving average price of $122.56 and a 200 day moving average price of $118.52.
ESAB (NYSE:ESAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The business had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. Sell-side analysts forecast that ESAB Co. will post 5.16 EPS for the current fiscal year.
ESAB Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date is Friday, April 4th. ESAB's dividend payout ratio is currently 7.41%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on ESAB shares. 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 target for the company. Evercore ISI upgraded shares of ESAB from an "underperform" rating to an "inline" rating and cut their target price for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Stifel Nicolaus cut 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, February 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $134.14.
Check Out Our Latest Analysis on ESAB
About ESAB
(
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.
Featured Stories
Before you consider ESAB, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ESAB wasn't on the list.
While ESAB currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
