ESAB Co. (NYSE:ESAB) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC decreased its position in shares of ESAB Co. (NYSE:ESABFree Report) by 1.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,908 shares of the company’s stock after selling 197 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in ESAB were worth $1,188,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of ESAB by 73.5% during the second quarter. American Century Companies Inc. now owns 8,895 shares of the company’s stock worth $840,000 after buying an additional 3,768 shares during the period. Envestnet Asset Management Inc. raised its stake in ESAB by 8.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 71,700 shares of the company’s stock valued at $6,771,000 after acquiring an additional 5,771 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in ESAB by 5.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company’s stock valued at $362,000 after acquiring an additional 185 shares during the last quarter. Point72 Asset Management L.P. lifted its position in ESAB by 138.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 10,714 shares of the company’s stock worth $1,012,000 after acquiring an additional 6,214 shares during the period. Finally, New Century Financial Group LLC purchased a new position in shares of ESAB in the 2nd quarter valued at approximately $321,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Price Performance

ESAB stock opened at $123.82 on Monday. The firm has a 50 day moving average of $124.10 and a 200-day moving average of $112.30. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 2.01 and a beta of 1.37. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. ESAB Co. has a 12-month low of $85.79 and a 12-month high of $135.97.

ESAB (NYSE:ESABGet Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The firm had revenue of $673.00 million during the quarter, compared to analysts’ expectations of $620.50 million. During the same period in the previous year, the firm posted $1.08 earnings per share. ESAB’s revenue was down 1.2% on a year-over-year basis. As a group, equities analysts expect that ESAB Co. will post 4.93 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.08 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.32 annualized dividend and a yield of 0.26%. ESAB’s dividend payout ratio (DPR) is currently 7.49%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ESAB. Stifel Nicolaus upped their price target on ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a research note on Friday. Loop Capital raised their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $144.00 price target (up from $138.00) on shares of ESAB in a research note on Friday, November 8th. Evercore ISI downgraded shares of ESAB from an “in-line” rating to an “underperform” rating and raised their price objective for the company from $102.00 to $122.00 in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group began coverage on ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $133.57.

View Our Latest Research Report on ESAB

Insiders Place Their Bets

In related news, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Shyam Kambeyanda sold 59,120 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the transaction, the chief executive officer now owns 53,902 shares in the company, valued at approximately $6,627,789.92. This trade represents a 52.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,418 shares of company stock worth $8,431,773. Insiders own 7.00% of the company’s stock.

ESAB Profile

(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.

See Also

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Institutional Ownership by Quarter for ESAB (NYSE:ESAB)

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