ESAB Co. (NYSE:ESAB) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of ESAB Co. (NYSE:ESAB - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,934 shares of the company's stock after purchasing an additional 2,066 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in ESAB were worth $1,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Louisiana State Employees Retirement System lifted its position in shares of ESAB by 0.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company's stock worth $1,895,000 after purchasing an additional 100 shares during the last quarter. Arizona State Retirement System lifted its stake in ESAB by 0.8% in the fourth quarter. Arizona State Retirement System now owns 16,664 shares of the company's stock worth $1,999,000 after acquiring an additional 135 shares during the period. GAMMA Investing LLC lifted its stake in ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company's stock worth $66,000 after acquiring an additional 139 shares during the period. Legacy Capital Group California Inc. lifted its stake in ESAB by 6.0% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,459 shares of the company's stock worth $295,000 after acquiring an additional 139 shares during the period. Finally, KBC Group NV lifted its stake in ESAB by 20.7% in the third quarter. KBC Group NV now owns 1,531 shares of the company's stock worth $163,000 after acquiring an additional 263 shares during the period. 91.13% of the stock is currently owned by institutional investors.

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ESAB Stock Down 1.3 %

Shares of ESAB traded down $1.59 during mid-day trading on Friday, hitting $118.79. 439,983 shares of the company traded hands, compared to its average volume of 258,666. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97. 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 company has a market capitalization of $7.19 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The business has a 50 day moving average of $122.71 and a 200 day moving average of $118.56.

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 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 firm had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. Equities research analysts anticipate that ESAB Co. will post 5.16 EPS for the current year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, April 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. ESAB's dividend payout ratio (DPR) is currently 7.41%.

Wall Street Analysts Forecast Growth

ESAB has been the subject of a number of research reports. Evercore ISI raised shares of ESAB from an "underperform" rating to an "inline" rating and lowered their price objective for the stock from $122.00 to $120.00 in a research note on Monday, February 24th. Stifel Nicolaus lowered their price objective 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 began coverage on shares of ESAB in a research report on Thursday, December 12th. They set a "buy" rating and a $160.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of ESAB from $133.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.14.

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.