Cetera Investment Advisers Boosts Holdings in ESAB Corporation $ESAB

Cetera Investment Advisers grew its stake in shares of ESAB Corporation (NYSE:ESAB) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,694 shares of the company’s stock after buying an additional 2,028 shares during the quarter. Cetera Investment Advisers’ holdings in ESAB were worth $3,097,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Durable Capital Partners LP bought a new stake in ESAB in the first quarter valued at $114,067,000. Champlain Investment Partners LLC lifted its holdings in shares of ESAB by 42.0% during the first quarter. Champlain Investment Partners LLC now owns 1,929,099 shares of the company’s stock valued at $224,740,000 after purchasing an additional 570,895 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of ESAB during the 1st quarter valued at $36,415,000. Interval Partners LP purchased a new stake in ESAB during the first quarter valued at approximately $30,769,000. Finally, Nuveen LLC bought a new position in shares of ESAB during the 1st quarter valued at approximately $24,511,000. Institutional investors own 91.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ESAB shares. Wall Street Zen upgraded shares of ESAB from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Stifel Nicolaus upgraded ESAB from a “hold” rating to a “buy” rating and set a $141.00 target price for the company in a research report on Thursday, August 7th. Roth Capital started coverage on shares of ESAB in a research note on Friday, September 5th. They issued a “buy” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of ESAB from $138.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ESAB in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

ESAB Stock Performance

ESAB opened at $112.08 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24. ESAB Corporation has a 1 year low of $100.17 and a 1 year high of $135.84. The firm has a fifty day moving average price of $114.41 and a 200 day moving average price of $119.11. The stock has a market cap of $6.80 billion, a P/E ratio of 28.23, a P/E/G ratio of 2.17 and a beta of 1.23.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.27 by $0.05. The company had revenue of $727.85 million during the quarter, compared to analyst estimates of $663.57 million. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Equities research analysts anticipate that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, October 3rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, October 3rd. ESAB’s dividend payout ratio (DPR) is 10.08%.

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.