Voya Investment Management LLC Has $617,000 Position in ESAB Corporation $ESAB

Voya Investment Management LLC lessened its holdings in ESAB Corporation (NYSE:ESAB) by 72.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,520 shares of the company’s stock after selling 14,808 shares during the quarter. Voya Investment Management LLC’s holdings in ESAB were worth $617,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in ESAB in the 2nd quarter valued at approximately $83,814,000. Durable Capital Partners LP grew its stake in shares of ESAB by 41.5% in the second quarter. Durable Capital Partners LP now owns 1,385,176 shares of the company’s stock worth $166,983,000 after purchasing an additional 406,057 shares during the last quarter. Interval Partners LP bought a new stake in shares of ESAB in the first quarter worth $30,769,000. First Trust Advisors LP increased its holdings in ESAB by 91.1% in the second quarter. First Trust Advisors LP now owns 268,158 shares of the company’s stock valued at $32,326,000 after purchasing an additional 127,865 shares during the period. Finally, Champlain Investment Partners LLC raised its position in ESAB by 5.9% during the 2nd quarter. Champlain Investment Partners LLC now owns 2,043,843 shares of the company’s stock worth $246,385,000 after purchasing an additional 114,744 shares during the last quarter. 91.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on ESAB. UBS Group upped their price target on ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Stifel Nicolaus lifted their price objective on ESAB from $141.00 to $143.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Roth Capital initiated coverage on ESAB in a report on Friday, September 5th. They issued a “buy” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. raised their price target 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, Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.50.

ESAB Trading Down 1.3%

NYSE ESAB opened at $111.77 on Friday. The stock has a market capitalization of $6.79 billion, a P/E ratio of 28.15, a P/E/G ratio of 2.17 and a beta of 1.24. The business has a 50 day simple moving average of $112.80 and a 200 day simple moving average of $116.86. 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 one year low of $100.17 and a one year high of $135.84.

ESAB (NYSE:ESAB) last issued its quarterly 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 for 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 company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 earnings per share. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Research analysts expect that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.40 annualized dividend and a yield of 0.4%. ESAB’s dividend payout ratio is currently 10.08%.

ESAB Company Profile

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.