Police & Firemen s Retirement System of New Jersey Purchases 1,021 Shares of ESAB Corporation $ESAB

Police & Firemen s Retirement System of New Jersey raised its position in shares of ESAB Corporation (NYSE:ESAB) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,497 shares of the company’s stock after purchasing an additional 1,021 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in ESAB were worth $2,591,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Durable Capital Partners LP purchased a new position in shares of ESAB in the first quarter worth approximately $114,067,000. Champlain Investment Partners LLC raised its position in ESAB by 42.0% in the first quarter. Champlain Investment Partners LLC now owns 1,929,099 shares of the company’s stock worth $224,740,000 after acquiring an additional 570,895 shares during the period. Driehaus Capital Management LLC purchased a new position in shares of ESAB during the 1st quarter worth $36,415,000. Interval Partners LP bought a new stake in shares of ESAB during the 1st quarter valued at $30,769,000. Finally, Nuveen LLC purchased a new stake in shares of ESAB in the 1st quarter worth $24,511,000. Institutional investors own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ESAB. Zacks Research downgraded ESAB from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings restated a “buy (b-)” rating on shares of ESAB in a research note on Thursday, November 13th. Loop Capital upgraded shares of ESAB from a “hold” rating to a “buy” rating and upped their price target for the stock from $130.00 to $140.00 in a research report on Friday, August 22nd. Roth Capital began coverage on shares of ESAB in a research note on Friday, September 5th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Stifel Nicolaus upgraded shares of ESAB from a “hold” rating to a “buy” rating and set a $141.00 target price on the stock in a research note on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, ESAB currently has a consensus rating of “Moderate Buy” and an average target price of $143.33.

ESAB Price Performance

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

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

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, October 3rd. ESAB’s payout ratio is 10.08%.

ESAB Profile

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.