Vanguard Group Inc. Sells 47,489 Shares of ESAB Corporation $ESAB

Vanguard Group Inc. lowered its stake in shares of ESAB Corporation (NYSE:ESAB) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,467,413 shares of the company’s stock after selling 47,489 shares during the quarter. Vanguard Group Inc. owned about 0.09% of ESAB worth $610,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Diamond Hill Capital Management Inc. lifted its stake in shares of ESAB by 8.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 168,668 shares of the company’s stock valued at $18,847,000 after purchasing an additional 12,894 shares during the period. Van Berkom & Associates Inc. grew its stake in ESAB by 28.6% in the third quarter. Van Berkom & Associates Inc. now owns 716,405 shares of the company’s stock worth $80,051,000 after purchasing an additional 159,539 shares during the period. Advantage Alpha Capital Partners LP raised its holdings in ESAB by 56.4% in the second quarter. Advantage Alpha Capital Partners LP now owns 26,644 shares of the company’s stock worth $3,212,000 after purchasing an additional 9,608 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in ESAB by 82.1% during the second quarter. Daiwa Securities Group Inc. now owns 39,739 shares of the company’s stock valued at $4,791,000 after buying an additional 17,911 shares during the period. Finally, Champlain Investment Partners LLC boosted its holdings in shares of ESAB by 5.9% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock valued at $246,385,000 after buying an additional 114,744 shares in the last quarter. 91.13% of the stock is currently owned by hedge funds and other institutional investors.

ESAB Stock Up 2.1%

ESAB stock opened at $125.22 on Wednesday. ESAB Corporation has a 12 month low of $100.17 and a 12 month high of $137.42. The stock has a fifty day simple moving average of $121.24 and a two-hundred day simple moving average of $116.42. The company has a current ratio of 1.90, a quick ratio of 1.24 and a debt-to-equity ratio of 0.56. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 2.27 and a beta of 1.24.

ESAB (NYSE:ESAB) last released its quarterly earnings data on Friday, February 20th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.34 by $0.01. The company had revenue of $720.99 million for the quarter, compared to analysts’ expectations of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.ESAB’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. Equities analysts predict that ESAB Corporation will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. ESAB’s payout ratio is 10.81%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Roth Mkm reiterated a “buy” rating and issued a $146.00 price target (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Oppenheimer raised 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. JPMorgan Chase & Co. boosted their price target on ESAB from $130.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday. Stifel Nicolaus raised their price objective on ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a research report on Monday. Finally, Weiss Ratings cut ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.25.

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.