ESAB Corporation $ESAB Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC decreased its stake in ESAB Corporation (NYSE:ESAB) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 965,762 shares of the company’s stock after selling 45,774 shares during the period. DAVENPORT & Co LLC’s holdings in ESAB were worth $108,903,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Invesco Ltd. lifted its position in ESAB by 1.6% during the 2nd quarter. Invesco Ltd. now owns 2,123,958 shares of the company’s stock worth $256,043,000 after acquiring an additional 33,015 shares in the last quarter. Durable Capital Partners LP grew its position in ESAB by 40.5% in the third quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock valued at $217,430,000 after acquiring an additional 560,678 shares in the last quarter. Dimensional Fund Advisors LP grew its position in ESAB by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,145,744 shares of the company’s stock valued at $128,014,000 after acquiring an additional 10,765 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of ESAB by 64.3% during the third quarter. Cooke & Bieler LP now owns 996,533 shares of the company’s stock valued at $111,353,000 after purchasing an additional 390,104 shares during the period. Finally, Royce & Associates LP lifted its position in shares of ESAB by 27.6% during the third quarter. Royce & Associates LP now owns 785,506 shares of the company’s stock worth $87,772,000 after purchasing an additional 169,958 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Insider Activity

In other news, CEO Shyam Kambeyanda sold 59,404 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the transaction, the chief executive officer owned 99,864 shares of the company’s stock, valued at approximately $12,362,164.56. This trade represents a 37.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.30% of the company’s stock.

Analysts Set New Price Targets

ESAB has been the subject of several analyst reports. Oppenheimer upped their target price on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. boosted their price objective on shares of ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Roth Mkm reissued a “buy” rating and issued a $146.00 price objective (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Finally, Stifel Nicolaus raised their target price on ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a research note on Monday, February 23rd. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

ESAB Stock Performance

ESAB stock opened at $95.53 on Wednesday. ESAB Corporation has a 52 week low of $93.10 and a 52 week high of $137.42. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56. The stock has a market cap of $5.80 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 1.77 and a beta of 1.23. The stock has a 50 day moving average of $118.41 and a 200-day moving average of $115.52.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Friday, February 20th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. ESAB had a net margin of 7.98% and a return on equity of 15.38%. The business had revenue of $687.00 million during the quarter, compared to analyst estimates of $687.80 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. On average, analysts expect that ESAB Corporation will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Stockholders of record on Thursday, April 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, April 2nd. ESAB’s dividend payout ratio is 10.81%.

ESAB Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.