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

Vanguard Group Inc. lessened its holdings in shares of ESAB Corporation (NYSE:ESAB) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,467,413 shares of the company’s stock after selling 47,489 shares during the quarter. Vanguard Group Inc. owned about 9.01% of ESAB worth $610,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its position in ESAB by 109.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after purchasing an additional 174 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in ESAB in the second quarter worth $59,000. AlphaQuest LLC purchased a new position in ESAB in the third quarter worth $58,000. Farther Finance Advisors LLC increased its stake in ESAB by 60.4% in the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock valued at $75,000 after acquiring an additional 252 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in ESAB by 59.5% during 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 in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Price Performance

ESAB stock opened at $125.22 on Wednesday. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 2.27 and a beta of 1.24. The firm’s 50-day moving average price is $121.24 and its two-hundred day moving average price is $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. ESAB Corporation has a 12-month low of $100.17 and a 12-month high of $137.42.

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

ESAB Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Stifel Nicolaus upped their price objective on shares of ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer lifted their target price on shares of ESAB from $142.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. Finally, Roth Mkm restated a “buy” rating and set a $146.00 price target (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, ESAB presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

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.