ESAB Corporation $ESAB Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its stake in shares of ESAB Corporation (NYSE:ESAB) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,011,536 shares of the company’s stock after buying an additional 95,294 shares during the period. DAVENPORT & Co LLC owned approximately 1.67% of ESAB worth $113,029,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in ESAB. Invesco Ltd. increased its stake in shares of ESAB by 1.6% during the second quarter. Invesco Ltd. now owns 2,123,958 shares of the company’s stock valued at $256,043,000 after acquiring an additional 33,015 shares during the period. Champlain Investment Partners LLC boosted its stake in ESAB by 5.9% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock valued at $246,385,000 after purchasing an additional 114,744 shares in the last quarter. Durable Capital Partners LP increased its position in shares of ESAB by 41.5% during the 2nd quarter. Durable Capital Partners LP now owns 1,385,176 shares of the company’s stock valued at $166,983,000 after purchasing an additional 406,057 shares during the period. Geode Capital Management LLC raised its stake in shares of ESAB by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,272,604 shares of the company’s stock worth $153,432,000 after buying an additional 12,660 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of ESAB in the second quarter valued at $83,814,000. 91.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of ESAB from $141.00 to $143.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ESAB in a research note on Monday. JPMorgan Chase & Co. increased their target price on shares of ESAB from $138.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. UBS Group raised their target price on shares of ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Finally, Wall Street Zen raised ESAB from a “hold” rating to a “buy” rating in a report on Saturday. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

ESAB Stock Performance

ESAB stock opened at $114.31 on Wednesday. ESAB Corporation has a fifty-two week low of $100.17 and a fifty-two week high of $135.84. The firm’s 50 day simple moving average is $114.05 and its 200-day simple moving average is $117.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24. The company has a market cap of $6.94 billion, a P/E ratio of 28.79, a price-to-earnings-growth ratio of 2.23 and a beta of 1.24.

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

ESAB Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Wednesday, December 31st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, December 31st. ESAB’s payout ratio is presently 10.08%.

About ESAB

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.