Corient Private Wealth LLC Has $2.41 Million Position in ESAB Co. (NYSE:ESAB)

Corient Private Wealth LLC lessened its stake in ESAB Co. (NYSE:ESAB) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,107 shares of the company’s stock after selling 361 shares during the period. Corient Private Wealth LLC’s holdings in ESAB were worth $2,412,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock worth $26,000 after purchasing an additional 90 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in ESAB by 0.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 15,800 shares of the company’s stock worth $1,895,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System increased its holdings in ESAB by 0.8% in the 4th quarter. Arizona State Retirement System now owns 16,664 shares of the company’s stock valued at $1,999,000 after buying an additional 135 shares during the period. GAMMA Investing LLC raised its stake in shares of ESAB by 33.9% in the 4th quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after buying an additional 139 shares in the last quarter. Finally, Legacy Capital Group California Inc. lifted its holdings in shares of ESAB by 6.0% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,459 shares of the company’s stock worth $295,000 after acquiring an additional 139 shares during the period. 91.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ESAB. Stifel Nicolaus lowered their target price on shares of ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Jefferies Financial Group initiated coverage on ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 target price for the company. JPMorgan Chase & Co. upped their price target on ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Finally, Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and cut their price objective for the company from $122.00 to $120.00 in a report on Monday, February 24th. Two equities 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, ESAB presently has an average rating of “Moderate Buy” and an average target price of $134.14.

ESAB Price Performance

ESAB stock opened at $118.79 on Monday. The business’s fifty day moving average is $122.78 and its two-hundred day moving average is $118.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. The firm has a market cap of $7.19 billion, a P/E ratio of 27.50, a P/E/G ratio of 2.01 and a beta of 1.36. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97.

ESAB (NYSE:ESAB) last issued 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. ESAB had a net margin of 9.66% and a return on equity of 17.43%. The firm had revenue of $633.20 million for the quarter, compared to analyst estimates of $636.43 million. Equities research analysts forecast that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors 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 of this dividend is Friday, April 4th. ESAB’s dividend payout ratio (DPR) is presently 7.41%.

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.