ESAB Co. (NYSE:ESAB) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lowered its stake in ESAB Co. (NYSE:ESAB) by 1.4% during the second quarter, Holdings Channel.com reports. The firm owned 17,012 shares of the company’s stock after selling 237 shares during the quarter. Hancock Whitney Corp’s holdings in ESAB were worth $1,606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC lifted its position in shares of ESAB by 8.4% during the 1st quarter. Quent Capital LLC now owns 1,718 shares of the company’s stock worth $190,000 after purchasing an additional 133 shares during the last quarter. Burns Matteson Capital Management LLC lifted its holdings in ESAB by 7.1% during the 2nd quarter. Burns Matteson Capital Management LLC now owns 2,149 shares of the company’s stock worth $203,000 after buying an additional 142 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of ESAB by 57.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock worth $36,000 after acquiring an additional 154 shares in the last quarter. Legacy Capital Group California Inc. increased its holdings in shares of ESAB by 8.5% in the 2nd quarter. Legacy Capital Group California Inc. now owns 2,139 shares of the company’s stock valued at $202,000 after acquiring an additional 168 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of ESAB by 5.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,829 shares of the company’s stock worth $362,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Analysts Set New Price Targets

ESAB has been the subject of a number of research analyst reports. Oppenheimer assumed coverage on ESAB in a report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 price target for the company. Stifel Nicolaus dropped their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut their price target on shares of ESAB from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Evercore ISI decreased their price objective on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Finally, Bank of America lifted their target price on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.57.

ESAB Stock Down 0.3 %

ESAB opened at $105.60 on Monday. The business has a 50 day moving average price of $99.29 and a two-hundred day moving average price of $101.49. ESAB Co. has a 52 week low of $61.43 and a 52 week high of $114.77. The company has a market cap of $6.38 billion, a PE ratio of 27.64, a P/E/G ratio of 1.68 and a beta of 1.42. The company has a quick ratio of 1.21, a current ratio of 1.86 and a debt-to-equity ratio of 0.62.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.05. The firm had revenue of $707.10 million during the quarter, compared to the consensus estimate of $686.75 million. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. As a group, research analysts anticipate that ESAB Co. will post 4.84 EPS for the current year.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, September 27th. ESAB’s dividend payout ratio is currently 8.38%.

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.