Congruence Capital LLC Invests $6.63 Million in ESAB Corporation $ESAB

Congruence Capital LLC acquired a new stake in ESAB Corporation (NYSE:ESAB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 59,304 shares of the company’s stock, valued at approximately $6,625,000. ESAB makes up about 2.4% of Congruence Capital LLC’s holdings, making the stock its 17th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in ESAB during the 3rd quarter worth about $30,000. Los Angeles Capital Management LLC acquired a new position in ESAB in the 4th quarter valued at about $33,000. Northwestern Mutual Wealth Management Co. increased its stake in ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after purchasing an additional 174 shares during the period. Smartleaf Asset Management LLC increased its stake in ESAB by 259.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 381 shares of the company’s stock worth $43,000 after purchasing an additional 275 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of ESAB by 3,023.1% during the fourth quarter. Global Retirement Partners LLC now owns 406 shares of the company’s stock worth $45,000 after purchasing an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

NYSE:ESAB opened at $91.46 on Friday. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The firm’s fifty day moving average price is $95.84 and its 200 day moving average price is $108.29. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.97 and a quick ratio of 2.26. ESAB Corporation has a 1-year low of $82.18 and a 1-year high of $137.42.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The firm had revenue of $745.60 million for the quarter, compared to analyst estimates of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 earnings per share. On average, sell-side analysts expect that ESAB Corporation will post 5.81 EPS for the current year.

ESAB Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Friday, July 3rd will be paid a dividend of $0.12 per share. This is a positive change from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. ESAB’s dividend payout ratio (DPR) is currently 11.83%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. DA Davidson reduced their price objective on ESAB from $146.00 to $142.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. Oppenheimer restated an “outperform” rating and issued a $140.00 price target on shares of ESAB in a research note on Tuesday, April 14th. Roth Mkm set a $142.00 price target on ESAB in a report on Thursday, April 16th. JPMorgan Chase & Co. lowered their price objective on ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. Finally, Stifel Nicolaus set a $141.00 price objective on ESAB in a report on Friday, May 8th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, ESAB currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

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.