TimesSquare Capital Management LLC Has $100.71 Million Stock Holdings in ESAB Co. (NYSE:ESAB)

TimesSquare Capital Management LLC raised its stake in shares of ESAB Co. (NYSE:ESAB) by 104.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 839,685 shares of the company’s stock after purchasing an additional 428,770 shares during the period. ESAB accounts for 1.5% of TimesSquare Capital Management LLC’s portfolio, making the stock its 11th largest holding. TimesSquare Capital Management LLC owned 1.39% of ESAB worth $100,712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ESAB. ORG Wealth Partners LLC acquired a new stake in shares of ESAB in the fourth quarter worth $34,000. Trust Co. of Vermont lifted its holdings in shares of ESAB by 871.0% during the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock valued at $36,000 after acquiring an additional 270 shares during the period. GAMMA Investing LLC lifted its holdings in shares of ESAB by 33.9% during the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after acquiring an additional 139 shares during the period. Quest Partners LLC raised its holdings in shares of ESAB by 12,140.0% in the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after buying an additional 607 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of ESAB by 629.8% in the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after buying an additional 529 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

ESAB has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 price target (up from $138.00) on shares of ESAB in a report on Friday, November 8th. Loop Capital lifted their price objective on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Evercore ISI lowered ESAB from an “in-line” rating to an “underperform” rating and lifted their price objective for the stock from $102.00 to $122.00 in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their price objective on ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $133.57.

ESAB Price Performance

Shares of ESAB stock opened at $131.73 on Wednesday. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 2.08 and a beta of 1.36. ESAB Co. has a 12 month low of $88.54 and a 12 month high of $135.97. The stock has a 50-day moving average price of $122.92 and a 200 day moving average price of $115.06. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58.

ESAB Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. ESAB’s payout ratio is currently 7.49%.

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.