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

TimesSquare Capital Management LLC lowered its stake in shares of ESAB Corporation (NYSE:ESAB) by 6.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 696,251 shares of the company’s stock after selling 50,785 shares during the period. ESAB makes up 1.1% of TimesSquare Capital Management LLC’s portfolio, making the stock its 28th biggest position. TimesSquare Capital Management LLC owned approximately 1.15% of ESAB worth $77,799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ESAB. Northwestern Mutual Wealth Management Co. raised its holdings in ESAB by 109.4% in 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. AlphaQuest LLC bought a new stake in shares of ESAB in the 3rd quarter valued at $58,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in ESAB during the 2nd quarter worth $59,000. Farther Finance Advisors LLC lifted its holdings in ESAB by 60.4% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $75,000 after acquiring an additional 252 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its stake in 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 acquiring an additional 254 shares during the period. 91.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ESAB has been the topic of a number of research analyst reports. UBS Group raised their price target on ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Weiss Ratings raised ESAB from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. JPMorgan Chase & Co. reduced their price target on shares of ESAB from $138.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, February 3rd. Finally, Stifel Nicolaus raised their price objective on shares of ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, ESAB has an average rating of “Moderate Buy” and a consensus price target of $140.63.

ESAB Price Performance

NYSE:ESAB opened at $134.92 on Friday. The stock has a market capitalization of $8.19 billion, a PE ratio of 33.98, a P/E/G ratio of 2.50 and a beta of 1.24. ESAB Corporation has a 1-year low of $100.17 and a 1-year high of $137.42. The firm has a fifty day simple moving average of $118.93 and a 200 day simple moving average of $116.22. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.62.

ESAB Dividend Announcement

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

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.