TimesSquare Capital Management LLC Has $77.80 Million Position in ESAB Corporation $ESAB

TimesSquare Capital Management LLC lessened its holdings in ESAB Corporation (NYSE:ESAB) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 696,251 shares of the company’s stock after selling 50,785 shares during the period. ESAB accounts for 1.1% of TimesSquare Capital Management LLC’s holdings, making the stock its 28th biggest position. TimesSquare Capital Management LLC’s holdings in ESAB were worth $77,799,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. ING Groep NV bought a new stake in shares of ESAB during the 3rd quarter worth about $1,989,000. Johnson Investment Counsel Inc. lifted its position in ESAB by 33.9% during the third quarter. Johnson Investment Counsel Inc. now owns 26,162 shares of the company’s stock worth $2,923,000 after acquiring an additional 6,624 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in ESAB during the third quarter worth approximately $1,126,000. Diamond Hill Capital Management Inc. boosted its holdings in shares of ESAB by 8.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 168,668 shares of the company’s stock worth $18,847,000 after acquiring an additional 12,894 shares during the period. Finally, Hantz Financial Services Inc. grew its position in shares of ESAB by 59.5% in the third quarter. Hantz Financial Services Inc. now owns 681 shares of the company’s stock valued at $76,000 after purchasing an additional 254 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

ESAB Stock Up 0.8%

ESAB stock opened at $134.92 on Friday. The stock has a market capitalization of $8.19 billion, a P/E ratio of 33.98, a price-to-earnings-growth ratio of 2.50 and a beta of 1.24. 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 50-day moving average price of $118.93 and a 200-day moving average price of $116.22. ESAB Corporation has a 12 month low of $100.17 and a 12 month high of $137.42.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.10 per share. The ex-dividend date was Wednesday, December 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. ESAB’s dividend payout ratio is 10.08%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group lifted their price target on ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Oppenheimer lifted their target price on ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Weiss Ratings upgraded shares of ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. JPMorgan Chase & Co. dropped their price objective on shares of ESAB from $138.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, February 3rd. Finally, Stifel Nicolaus increased their target price on shares of ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, ESAB presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.63.

ESAB Company 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.