Police & Firemen s Retirement System of New Jersey Acquires 1,021 Shares of ESAB Corporation $ESAB

Police & Firemen s Retirement System of New Jersey raised its holdings in shares of ESAB Corporation (NYSE:ESAB) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,497 shares of the company’s stock after purchasing an additional 1,021 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in ESAB were worth $2,591,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of ESAB during the 1st quarter valued at about $33,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in ESAB by 706.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company’s stock worth $42,000 after acquiring an additional 318 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in ESAB during the second quarter valued at approximately $59,000. Quarry LP lifted its stake in shares of ESAB by 637.2% in the 1st quarter. Quarry LP now owns 1,268 shares of the company’s stock valued at $148,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Cross Staff Investments Inc purchased a new position in shares of ESAB in the 2nd quarter worth approximately $201,000. 91.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ESAB. Zacks Research lowered ESAB from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Stifel Nicolaus raised shares of ESAB from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of ESAB from $138.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of ESAB in a report on Thursday, November 13th. Finally, UBS Group raised their price objective on shares of ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

ESAB Stock Down 0.0%

Shares of ESAB opened at $107.15 on Wednesday. The firm has a fifty day moving average price of $114.71 and a 200-day moving average price of $119.82. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $6.51 billion, a P/E ratio of 26.99, a P/E/G ratio of 2.08 and a beta of 1.23. ESAB Corporation has a 12-month low of $100.17 and a 12-month high of $135.84.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $727.85 million during the quarter, compared to analyst estimates of $663.57 million. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Equities research analysts expect that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were issued a $0.10 dividend. The ex-dividend date was Friday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. ESAB’s payout ratio is presently 10.08%.

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.