ESAB Co. (NYSE:ESAB) Position Increased by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. raised its holdings in shares of ESAB Co. (NYSE:ESAB) by 8.5% in the 3rd quarter, Holdings Channel reports. The firm owned 2,320 shares of the company’s stock after purchasing an additional 181 shares during the quarter. Legacy Capital Group California Inc.’s holdings in ESAB were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in ESAB. ORG Partners LLC bought a new stake in ESAB during the first quarter valued at $35,000. Whittier Trust Co. increased its stake in ESAB by 302.6% during the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock valued at $35,000 after purchasing an additional 236 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in ESAB during the second quarter valued at $42,000. GAMMA Investing LLC increased its stake in ESAB by 55.9% during the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after purchasing an additional 529 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

ESAB stock opened at $110.04 on Friday. The company has a market capitalization of $6.65 billion, a P/E ratio of 28.81, a PEG ratio of 1.81 and a beta of 1.42. The company has a 50-day simple moving average of $103.97 and a 200 day simple moving average of $101.75. ESAB Co. has a fifty-two week low of $62.04 and a fifty-two week high of $114.77. 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 posted its quarterly earnings data 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 business had revenue of $707.10 million during the quarter, compared to the consensus estimate of $686.75 million. ESAB had a net margin of 9.06% and a return on equity of 17.49%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share. Sell-side analysts predict that ESAB Co. will post 4.84 earnings per share for the current fiscal year.

ESAB Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Friday, September 27th. ESAB’s dividend payout ratio (DPR) is presently 8.38%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of ESAB from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Bank of America boosted their price target on shares of ESAB from $115.00 to $130.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Oppenheimer boosted their price target on shares of ESAB from $115.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Evercore ISI reduced their price target on shares of ESAB from $107.00 to $102.00 and set an “in-line” rating for the company in a report on Monday, August 19th. One research analyst has 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 $116.17.

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.