First Trust Advisors LP Purchases 127,865 Shares of ESAB Corporation $ESAB

First Trust Advisors LP grew its position in shares of ESAB Corporation (NYSE:ESAB) by 91.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 268,158 shares of the company’s stock after acquiring an additional 127,865 shares during the quarter. First Trust Advisors LP owned about 0.44% of ESAB worth $32,326,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in ESAB in the 1st quarter valued at $33,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ESAB by 109.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after buying an additional 174 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of ESAB by 706.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company’s stock valued at $42,000 after buying an additional 318 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of ESAB during the second quarter worth about $59,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of ESAB by 183.4% during the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the company’s stock worth $117,000 after acquiring an additional 629 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Stock Performance

Shares of ESAB stock opened at $113.78 on Thursday. The business’s fifty day simple moving average is $114.57 and its 200 day simple moving average is $118.01. The company has a current ratio of 1.99, a quick ratio of 1.24 and a debt-to-equity ratio of 0.62. ESAB Corporation has a 12 month low of $100.17 and a 12 month high of $135.84. The firm has a market capitalization of $6.91 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 2.13 and a beta of 1.24.

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

ESAB Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st will be 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 is Wednesday, December 31st. ESAB’s payout ratio is presently 10.08%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Roth Capital initiated coverage on shares of ESAB in a research report on Friday, September 5th. They issued a “buy” rating and a $150.00 price target on the stock. Zacks Research cut ESAB from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. JPMorgan Chase & Co. upped their price target on ESAB from $138.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wall Street Zen upgraded ESAB from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Loop Capital raised shares of ESAB from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $140.00 in a report on Friday, August 22nd. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.33.

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.