Geode Capital Management LLC Purchases 12,660 Shares of ESAB Corporation $ESAB

Geode Capital Management LLC grew its holdings in shares of ESAB Corporation (NYSE:ESAB) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,272,604 shares of the company’s stock after buying an additional 12,660 shares during the period. Geode Capital Management LLC owned 2.10% of ESAB worth $153,432,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Durable Capital Partners LP purchased a new position in ESAB during the 1st quarter valued at about $114,067,000. Champlain Investment Partners LLC increased its stake in shares of ESAB by 42.0% during the first quarter. Champlain Investment Partners LLC now owns 1,929,099 shares of the company’s stock valued at $224,740,000 after purchasing an additional 570,895 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of ESAB during the first quarter valued at approximately $36,415,000. Interval Partners LP purchased a new position in shares of ESAB during the first quarter valued at approximately $30,769,000. Finally, Nuveen LLC bought a new stake in shares of ESAB in the 1st quarter worth approximately $24,511,000. 91.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ESAB. Stifel Nicolaus upgraded ESAB from a “hold” rating to a “buy” rating and set a $141.00 price objective for the company in a research note on Thursday, August 7th. Oppenheimer dropped their price target on shares of ESAB from $144.00 to $142.00 and set an “outperform” rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on shares of ESAB from $138.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Loop Capital raised ESAB from a “hold” rating to a “buy” rating and lifted their target price for the stock from $130.00 to $140.00 in a report on Friday, August 22nd. Finally, Wall Street Zen raised shares of ESAB from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, ESAB presently has an average rating of “Moderate Buy” and an average price target of $143.33.

ESAB Trading Down 0.0%

Shares of ESAB stock opened at $107.15 on Wednesday. ESAB Corporation has a 1-year low of $100.17 and a 1-year high of $135.84. The company’s fifty day simple moving average is $114.71 and its 200-day simple moving average is $119.82. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24. The stock has a market capitalization of $6.51 billion, a PE ratio of 26.99, a P/E/G ratio of 2.08 and a beta of 1.23.

ESAB (NYSE:ESAB) last announced its earnings results on Wednesday, October 29th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.05. The company had revenue of $727.85 million for the quarter, compared to analysts’ expectations of $663.57 million. ESAB had a return on equity of 15.93% and a net margin of 8.70%.ESAB’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. As a group, equities analysts anticipate that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, October 3rd. ESAB’s payout ratio is presently 10.08%.

About ESAB

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.