EverSource Wealth Advisors LLC Purchases 90 Shares of ESAB Co. (NYSE:ESAB)

EverSource Wealth Advisors LLC increased its position in ESAB Co. (NYSE:ESAB) by 70.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 218 shares of the company’s stock after buying an additional 90 shares during the period. EverSource Wealth Advisors LLC’s holdings in ESAB were worth $26,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC boosted its stake in shares of ESAB by 122.3% in the fourth quarter. HighTower Advisors LLC now owns 4,535 shares of the company’s stock worth $544,000 after acquiring an additional 2,495 shares during the period. Wealthfront Advisers LLC bought a new position in ESAB in the 4th quarter worth approximately $1,071,000. Johnson Investment Counsel Inc. purchased a new stake in ESAB during the 4th quarter valued at approximately $2,343,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ESAB by 16.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,934 shares of the company’s stock valued at $1,791,000 after buying an additional 2,066 shares during the last quarter. Finally, Dundas Partners LLP lifted its holdings in shares of ESAB by 19.6% in the fourth quarter. Dundas Partners LLP now owns 4,132 shares of the company’s stock worth $496,000 after buying an additional 678 shares in the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Analyst Ratings Changes

ESAB has been the subject of several research analyst reports. Evercore ISI raised shares of ESAB from an “underperform” rating to an “inline” rating and cut their target price for the company from $122.00 to $120.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. raised their price objective on ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, Stifel Nicolaus cut their price target on ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ESAB presently has a consensus rating of “Moderate Buy” and an average price target of $134.14.

ESAB Trading Down 1.7 %

Shares of NYSE ESAB opened at $120.35 on Friday. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The business’s 50 day moving average is $122.71 and its two-hundred day moving average is $118.56. The stock has a market capitalization of $7.28 billion, a P/E ratio of 27.86, a PEG ratio of 2.01 and a beta of 1.36.

ESAB (NYSE:ESAB) last announced its earnings results on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.13. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The business had revenue of $633.20 million for the quarter, compared to the consensus estimate of $636.43 million. As a group, research analysts expect that ESAB Co. will post 5.16 EPS for the current year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date is Friday, April 4th. ESAB’s dividend payout ratio (DPR) is presently 7.41%.

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.