Dynamic Advisor Solutions LLC Has $1.12 Million Position in ESAB Corporation (NYSE:ESAB)

Dynamic Advisor Solutions LLC lessened its position in ESAB Corporation (NYSE:ESAB) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,619 shares of the company’s stock after selling 289 shares during the period. Dynamic Advisor Solutions LLC’s holdings in ESAB were worth $1,121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of ESAB by 12.3% in the first quarter. SG Americas Securities LLC now owns 25,032 shares of the company’s stock valued at $2,916,000 after buying an additional 2,741 shares during the period. GAMMA Investing LLC increased its stake in shares of ESAB by 37.7% in the first quarter. GAMMA Investing LLC now owns 756 shares of the company’s stock valued at $88,000 after buying an additional 207 shares during the period. Farther Finance Advisors LLC increased its stake in shares of ESAB by 1,128.9% in the first quarter. Farther Finance Advisors LLC now owns 467 shares of the company’s stock valued at $56,000 after buying an additional 429 shares during the period. Fenimore Asset Management Inc increased its stake in shares of ESAB by 0.3% in the first quarter. Fenimore Asset Management Inc now owns 106,341 shares of the company’s stock valued at $12,389,000 after buying an additional 360 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of ESAB by 323.8% in the first quarter. UMB Bank n.a. now owns 534 shares of the company’s stock valued at $62,000 after buying an additional 408 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

Insiders Place Their Bets

In other news, insider Olivier Biebuyck sold 1,417 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $131.15, for a total value of $185,839.55. Following the transaction, the insider now owns 14,989 shares in the company, valued at $1,965,807.35. This trade represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rhonda L. Jordan sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $126.42, for a total value of $189,630.00. The disclosure for this sale can be found here. Corporate insiders own 7.30% of the company’s stock.

ESAB Stock Down 3.4%

Shares of ESAB stock opened at $119.52 on Wednesday. ESAB Corporation has a one year low of $88.54 and a one year high of $135.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.91 and a quick ratio of 1.24. The stock’s 50-day moving average is $122.14 and its 200 day moving average is $122.03. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 3.02 and a beta of 1.31.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $678.14 million for the quarter, compared to analyst estimates of $633.66 million. ESAB had a return on equity of 16.98% and a net margin of 9.98%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 earnings per share. Equities research analysts anticipate that ESAB Corporation will post 5.16 EPS for the current year.

ESAB Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd will be issued a $0.10 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $0.40 annualized dividend and a yield of 0.33%. This is a positive change from ESAB’s previous quarterly dividend of $0.08. ESAB’s dividend payout ratio is presently 7.21%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ESAB. Stifel Nicolaus increased their price target on ESAB from $109.00 to $126.00 and gave the company a “hold” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. UBS Group raised ESAB from a “neutral” rating to a “buy” rating and increased their price target for the company from $123.00 to $147.00 in a research note on Tuesday, April 1st. Evercore ISI upped their target price on ESAB from $120.00 to $125.00 and gave the company an “in-line” rating in a research report on Monday, May 19th. Finally, Robert W. Baird set a $143.00 target price on ESAB in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.22.

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.