Lighthouse Investment Partners LLC Has $4.80 Million Holdings in ESAB Co. (NYSE:ESAB)

Lighthouse Investment Partners LLC raised its position in shares of ESAB Co. (NYSE:ESAB) by 100.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 50,874 shares of the company’s stock after purchasing an additional 25,491 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in ESAB were worth $4,804,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Corient Private Wealth LLC bought a new position in shares of ESAB during the 4th quarter worth approximately $1,882,000. Nomura Asset Management Co. Ltd. boosted its holdings 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 buying an additional 154 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of ESAB by 2.6% during the 4th quarter. TD Asset Management Inc now owns 470,240 shares of the company’s stock worth $40,732,000 after buying an additional 11,800 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of ESAB by 4.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 25,817 shares of the company’s stock worth $2,236,000 after buying an additional 1,041 shares in the last quarter. Finally, Bank of Nova Scotia bought a new position in shares of ESAB in the 4th quarter worth $1,239,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ESAB. Bank of America increased their target price on ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. cut their target price on ESAB from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Oppenheimer began coverage on ESAB in a report on Thursday, June 20th. They issued an “outperform” rating and a $115.00 target price on the stock. Evercore ISI cut their target price on ESAB from $107.00 to $102.00 and set an “in-line” rating on the stock in a report on Monday, August 19th. Finally, Stifel Nicolaus cut their target price on ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $113.67.

ESAB Trading Down 0.4 %

NYSE ESAB opened at $106.65 on Friday. The firm has a market capitalization of $6.45 billion, a P/E ratio of 27.92, a PEG ratio of 1.84 and a beta of 1.42. The business has a fifty day simple moving average of $99.92 and a 200 day simple moving average of $101.68. ESAB Co. has a 12 month low of $61.43 and a 12 month high of $114.77. The company has a current ratio of 1.86, a quick ratio of 1.21 and a debt-to-equity ratio of 0.62.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Friday, August 2nd. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. ESAB had a return on equity of 17.49% and a net margin of 9.06%. The business had revenue of $707.10 million during the quarter, compared to analyst estimates of $686.75 million. During the same period in the prior year, the firm posted $1.21 EPS. ESAB’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts predict that ESAB Co. will post 4.84 EPS for the current fiscal year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, September 27th. ESAB’s dividend payout ratio is presently 8.38%.

ESAB Company 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.