ESAB Co. (NYSE:ESAB) Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC raised its holdings in shares of ESAB Co. (NYSE:ESAB) by 53.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,406 shares of the company’s stock after purchasing an additional 1,894 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in ESAB were worth $468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in ESAB by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,578,527 shares of the company’s stock worth $391,724,000 after buying an additional 63,948 shares during the last quarter. FMR LLC boosted its holdings in shares of ESAB by 24.3% in the 3rd quarter. FMR LLC now owns 2,892,015 shares of the company’s stock valued at $203,077,000 after buying an additional 566,224 shares during the period. Invesco Ltd. grew its position in shares of ESAB by 25.1% during the 3rd quarter. Invesco Ltd. now owns 1,376,699 shares of the company’s stock valued at $96,672,000 after buying an additional 276,558 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in ESAB by 1.8% in the fourth quarter. DAVENPORT & Co LLC now owns 769,580 shares of the company’s stock worth $67,128,000 after acquiring an additional 13,786 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in ESAB by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 499,597 shares of the company’s stock valued at $43,275,000 after acquiring an additional 9,658 shares during the period. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of NYSE ESAB opened at $103.73 on Friday. The company has a market capitalization of $6.27 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.82 and a beta of 1.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 1.01. ESAB Co. has a one year low of $57.53 and a one year high of $114.77. The business’s 50-day moving average price is $108.00 and its two-hundred day moving average price is $94.22.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Wednesday, May 1st. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.09. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The business had revenue of $690.00 million for the quarter, compared to the consensus estimate of $653.93 million. During the same quarter last year, the firm earned $1.04 EPS. ESAB’s revenue for the quarter was up .9% on a year-over-year basis. Analysts anticipate that ESAB Co. will post 4.93 earnings per share for the current fiscal year.

ESAB Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.08 per share. This is a positive change from ESAB’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, June 28th. ESAB’s dividend payout ratio is currently 6.28%.

Insider Buying and Selling at ESAB

In other news, Director Christopher M. Hix sold 7,465 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $99.28, for a total value of $741,125.20. Following the transaction, the director now directly owns 33,863 shares of the company’s stock, valued at approximately $3,361,918.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Rajiv Vinnakota sold 856 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $99.50, for a total value of $85,172.00. Following the completion of the sale, the director now directly owns 6,779 shares of the company’s stock, valued at approximately $674,510.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher M. Hix sold 7,465 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $99.28, for a total transaction of $741,125.20. Following the completion of the transaction, the director now directly owns 33,863 shares of the company’s stock, valued at approximately $3,361,918.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,833 shares of company stock valued at $1,074,985. 7.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on ESAB. Evercore ISI upped their price objective on shares of ESAB from $93.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded shares of ESAB from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $111.00 to $125.00 in a report on Monday, March 18th. Finally, Stifel Nicolaus boosted their target price on shares of ESAB from $106.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.29.

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.