Legal & General Group Plc Invests $7.22 Million in ESAB Corporation $ESAB

Legal & General Group Plc acquired a new stake in ESAB Corporation (NYSE:ESAB) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 73,231 shares of the company’s stock, valued at approximately $7,223,000. Legal & General Group Plc owned about 0.12% of ESAB at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ESAB. BlackRock Inc. acquired a new position in shares of ESAB during the 2nd quarter worth about $524,533,000. Bessemer Group Inc. raised its position in shares of ESAB by 6,787.0% in the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock valued at $117,730,000 after acquiring an additional 1,038,475 shares during the period. Bank of New York Mellon Corp bought a new position in ESAB during the 2nd quarter worth approximately $94,210,000. Norges Bank acquired a new position in ESAB during the fourth quarter valued at approximately $85,692,000. Finally, Capital Research Global Investors acquired a new position in ESAB during the fourth quarter valued at approximately $69,099,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Performance

ESAB opened at $74.04 on Thursday. The business’s 50-day moving average price is $86.94 and its two-hundred day moving average price is $96.60. ESAB Corporation has a 1 year low of $73.31 and a 1 year high of $137.42. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.45 and a beta of 1.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.96 and a quick ratio of 1.22.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.04). The firm had revenue of $807.63 million for the quarter, compared to analyst estimates of $755.64 million. ESAB had a return on equity of 14.48% and a net margin of 5.75%.The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.36 earnings per share. ESAB has set its FY 2026 guidance at 5.400-5.500 EPS. Equities analysts expect that ESAB Corporation will post 5.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rhonda L. Jordan sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the director directly owned 1,000 shares of the company’s stock, valued at $95,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on ESAB. Roth Capital increased their target price on shares of ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. DA Davidson began coverage on shares of ESAB in a report on Monday, June 15th. They issued a “buy” rating and a $130.00 price target for the company. Weiss Ratings cut shares of ESAB from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Oppenheimer dropped their price objective on ESAB from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 21st. Finally, Stifel Nicolaus reduced their target price on ESAB from $141.00 to $137.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.14.

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.