Treasurer of the State of North Carolina Decreases Stock Position in ESAB Co. (NYSE:ESAB)

Treasurer of the State of North Carolina cut its stake in shares of ESAB Co. (NYSE:ESAB) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,862 shares of the company’s stock after selling 1,203 shares during the quarter. Treasurer of the State of North Carolina’s holdings in ESAB were worth $2,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ESAB. EverSource Wealth Advisors LLC increased its holdings in ESAB by 70.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $26,000 after purchasing an additional 90 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of ESAB in the 4th quarter worth approximately $34,000. Trust Co. of Vermont increased its stake in shares of ESAB by 871.0% during the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock valued at $36,000 after buying an additional 270 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of ESAB during the fourth quarter valued at approximately $36,000. Finally, GAMMA Investing LLC boosted its holdings in ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after acquiring an additional 139 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of ESAB from $125.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday. Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and decreased their target price for the stock from $122.00 to $120.00 in a research report on Monday, February 24th. UBS Group upgraded ESAB from a “neutral” rating to a “buy” rating and lifted their price target for the company from $123.00 to $147.00 in a research report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. increased their price objective on ESAB from $133.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, ESAB currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.75.

ESAB Trading Down 1.8 %

Shares of ESAB stock opened at $113.46 on Thursday. ESAB Co. has a 1-year low of $88.54 and a 1-year high of $135.97. The company’s fifty day simple moving average is $119.76 and its 200-day simple moving average is $120.50. The stock has a market capitalization of $6.88 billion, a PE ratio of 26.26, a P/E/G ratio of 2.01 and a beta of 1.37. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The firm had revenue of $633.20 million for the quarter, compared to analysts’ expectations of $636.43 million. As a group, equities analysts anticipate that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, April 4th. ESAB’s dividend payout ratio (DPR) is currently 7.41%.

About ESAB

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.