ESAB Corporation $ESAB Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP raised its position in shares of ESAB Corporation (NYSE:ESAB) by 100.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,981 shares of the company’s stock after purchasing an additional 12,497 shares during the quarter. Quantbot Technologies LP’s holdings in ESAB were worth $2,791,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of ESAB by 29.4% during the first quarter. Royal Bank of Canada now owns 51,867 shares of the company’s stock worth $6,042,000 after purchasing an additional 11,772 shares during the period. Millennium Management LLC purchased a new position in ESAB during the 1st quarter worth approximately $10,616,000. Goldman Sachs Group Inc. lifted its stake in ESAB by 25.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 458,339 shares of the company’s stock valued at $53,396,000 after acquiring an additional 94,335 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of ESAB by 11.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 119,424 shares of the company’s stock valued at $14,397,000 after acquiring an additional 11,820 shares during the last quarter. Finally, Atria Investments Inc increased its stake in shares of ESAB by 7.3% in the second quarter. Atria Investments Inc now owns 9,980 shares of the company’s stock worth $1,203,000 after acquiring an additional 677 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ESAB. JPMorgan Chase & Co. boosted their target price on shares of ESAB from $130.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Roth Mkm reiterated a “buy” rating and set a $146.00 price objective (down from $150.00) on shares of ESAB in a research note on Tuesday, February 3rd. Weiss Ratings cut ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Wall Street Zen lowered ESAB from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Finally, Stifel Nicolaus lifted their price target on ESAB from $144.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Six analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, ESAB has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Insider Transactions at ESAB

In other ESAB news, CEO Shyam Kambeyanda sold 59,404 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the transaction, the chief executive officer directly owned 99,864 shares of the company’s stock, valued at $12,362,164.56. This trade represents a 37.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.30% of the stock is currently owned by insiders.

ESAB Stock Performance

NYSE ESAB opened at $121.65 on Tuesday. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.33 and a beta of 1.24. The stock has a 50-day moving average of $122.09 and a 200 day moving average of $116.77. The company has a current ratio of 1.90, a quick ratio of 1.17 and a debt-to-equity ratio of 0.56. ESAB Corporation has a twelve month low of $100.17 and a twelve month high of $137.42.

ESAB (NYSE:ESAB) last issued 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 analyst estimates of $687.80 million. ESAB had a return on equity of 15.38% and a net margin of 7.98%.ESAB’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $1.28 earnings per share. Sell-side analysts anticipate that ESAB Corporation will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, April 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. ESAB’s dividend payout ratio is currently 10.81%.

About ESAB

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.