Vanguard Personalized Indexing Management LLC Decreases Stock Position in ESAB Corporation $ESAB

Vanguard Personalized Indexing Management LLC lessened its stake in shares of ESAB Corporation (NYSE:ESAB) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,127 shares of the company’s stock after selling 183 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in ESAB were worth $618,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. State of Michigan Retirement System increased its position in ESAB by 0.7% in the first quarter. State of Michigan Retirement System now owns 13,602 shares of the company’s stock worth $1,585,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in ESAB by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the company’s stock worth $1,852,000 after acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC raised its position in ESAB by 37.7% during the first quarter. GAMMA Investing LLC now owns 756 shares of the company’s stock valued at $88,000 after purchasing an additional 207 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of ESAB by 204.8% in the 1st quarter. First Horizon Advisors Inc. now owns 320 shares of the company’s stock valued at $37,000 after purchasing an additional 215 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of ESAB by 1.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 19,498 shares of the company’s stock worth $2,350,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of ESAB from $125.00 to $138.00 and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Oppenheimer dropped their price objective on ESAB from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of ESAB in a research note on Wednesday, October 8th. Zacks Research lowered shares of ESAB from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Finally, UBS Group lifted their price target on shares of ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research note on Monday. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, ESAB currently has an average rating of “Moderate Buy” and an average target price of $143.11.

Insider Buying and Selling at ESAB

In other ESAB news, insider Olivier Biebuyck sold 1,440 shares of ESAB stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $133.49, for a total transaction of $192,225.60. Following the completion of the sale, the insider owned 14,989 shares of the company’s stock, valued at approximately $2,000,881.61. The trade was a 8.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rhonda L. Jordan sold 4,067 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $113.05, for a total value of $459,774.35. The disclosure for this sale can be found here. Insiders own 7.30% of the company’s stock.

ESAB Price Performance

Shares of ESAB opened at $123.52 on Wednesday. The company has a 50 day moving average of $114.53 and a two-hundred day moving average of $119.72. The company has a quick ratio of 1.26, a current ratio of 1.95 and a debt-to-equity ratio of 0.50. ESAB Corporation has a twelve month low of $100.17 and a twelve month high of $135.97. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 2.69 and a beta of 1.23.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. ESAB had a return on equity of 16.32% and a net margin of 9.36%.The firm had revenue of $715.59 million during the quarter, compared to analyst estimates of $670.80 million. During the same quarter in the prior year, the business posted $1.32 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts predict that ESAB Corporation will post 5.16 earnings per share for the current fiscal year.

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.3%. ESAB’s dividend payout ratio (DPR) is currently 9.57%.

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.