ESAB Co. (NYSE:ESAB) Shares Purchased by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. grew its position in shares of ESAB Co. (NYSE:ESAB) by 6.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,459 shares of the company’s stock after purchasing an additional 139 shares during the quarter. Legacy Capital Group California Inc.’s holdings in ESAB were worth $295,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of ESAB. FMR LLC grew its holdings in ESAB by 6.2% during the third quarter. FMR LLC now owns 2,196,522 shares of the company’s stock worth $233,512,000 after acquiring an additional 127,714 shares during the period. JPMorgan Chase & Co. boosted its position in shares of ESAB by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock valued at $202,001,000 after purchasing an additional 337,983 shares in the last quarter. State Street Corp grew its stake in shares of ESAB by 3.4% in the 3rd quarter. State Street Corp now owns 1,692,161 shares of the company’s stock worth $180,028,000 after purchasing an additional 55,458 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ESAB by 19.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company’s stock worth $123,353,000 after purchasing an additional 190,583 shares in the last quarter. Finally, Champlain Investment Partners LLC lifted its stake in ESAB by 33.5% during the third quarter. Champlain Investment Partners LLC now owns 1,081,639 shares of the company’s stock valued at $114,989,000 after purchasing an additional 271,459 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $120.07 on Friday. ESAB Co. has a 12 month low of $88.54 and a 12 month high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The stock has a market cap of $7.26 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. The business has a fifty day simple moving average of $122.57 and a 200-day simple moving average of $115.61.

ESAB (NYSE:ESAB) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.13. The firm had revenue of $633.20 million during the quarter, compared to analyst estimates of $636.43 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. On average, sell-side analysts anticipate that ESAB Co. will post 4.92 EPS for the current fiscal year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB’s payout ratio is presently 7.41%.

Analyst Upgrades and Downgrades

ESAB has been the topic of several recent research reports. Loop Capital lifted their price target on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and issued a $144.00 target price (up from $138.00) on shares of ESAB in a report on Friday, November 8th. Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and upped their target price for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. Jefferies Financial Group initiated coverage on ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target for the company. Finally, Stifel Nicolaus cut their price objective on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $133.43.

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.