DAVENPORT & Co LLC Has $67.13 Million Position in ESAB Co. (NYSE:ESAB)

DAVENPORT & Co LLC grew its position in ESAB Co. (NYSE:ESABFree Report) by 1.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 769,580 shares of the company’s stock after purchasing an additional 13,786 shares during the period. DAVENPORT & Co LLC owned about 1.28% of ESAB worth $67,128,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. boosted its stake in shares of ESAB by 29.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,517,838 shares of the company’s stock valued at $399,657,000 after purchasing an additional 1,920,386 shares in the last quarter. Vanguard Group Inc. lifted its position in ESAB by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,527 shares of the company’s stock worth $391,724,000 after buying an additional 63,948 shares in the last quarter. BlackRock Inc. raised its holdings in ESAB by 2.7% during the 1st quarter. BlackRock Inc. now owns 4,539,005 shares of the company’s stock worth $268,119,000 after purchasing an additional 119,073 shares during the last quarter. FMR LLC raised its holdings in ESAB by 24.3% during the 3rd quarter. FMR LLC now owns 2,892,015 shares of the company’s stock worth $203,077,000 after purchasing an additional 566,224 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in ESAB by 2,222.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,545,956 shares of the company’s stock worth $150,391,000 after purchasing an additional 2,436,338 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Down 0.2 %

NYSE ESAB traded down $0.24 during trading hours on Tuesday, reaching $110.29. 461,886 shares of the company’s stock were exchanged, compared to its average volume of 237,406. The company’s 50-day moving average is $96.92 and its two-hundred day moving average is $84.04. ESAB Co. has a one year low of $54.49 and a one year high of $111.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.98 and a current ratio of 1.61. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.54.

ESAB (NYSE:ESABGet Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $689.40 million during the quarter, compared to the consensus estimate of $644.51 million. ESAB had a return on equity of 17.57% and a net margin of 7.40%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 EPS. On average, analysts forecast that ESAB Co. will post 4.82 EPS for the current fiscal year.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Wednesday, March 27th. ESAB’s payout ratio is currently 7.14%.

Analysts Set New Price Targets

Several analysts have weighed in on ESAB shares. Robert W. Baird boosted their price objective on ESAB from $83.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, December 6th. Evercore ISI boosted their price objective on ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. raised ESAB from a “neutral” rating to an “overweight” rating and upped their price target for the company from $111.00 to $125.00 in a research note on Monday, March 18th. Finally, Stifel Nicolaus upped their price target on ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, ESAB presently has an average rating of “Moderate Buy” and an average target price of $93.75.

Read Our Latest Analysis on ESAB

Insider Buying and Selling

In related news, Director Didier P. Teirlinck sold 2,512 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $99.00, for a total value of $248,688.00. Following the transaction, the director now owns 33,863 shares in the company, valued at $3,352,437. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Rajiv Vinnakota sold 856 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the sale, the director now directly owns 6,779 shares of the company’s stock, valued at $674,510.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Didier P. Teirlinck sold 2,512 shares of ESAB stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $99.00, for a total value of $248,688.00. Following the sale, the director now directly owns 33,863 shares in the company, valued at $3,352,437. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,833 shares of company stock worth $1,074,985. Company insiders own 7.00% of the company’s stock.

About ESAB

(Free Report)

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, automated welding, and gas control equipment. Its comprehensive range of welding consumables includes electrodes, cored and solid wires, and fluxes using a range of specialty and other materials; and cutting consumables comprising electrodes, nozzles, shields, and tips.

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Institutional Ownership by Quarter for ESAB (NYSE:ESAB)

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