Victory Capital Management Inc. Has $25.19 Million Stake in ESAB Co. (NYSE:ESAB)

Victory Capital Management Inc. decreased its stake in shares of ESAB Co. (NYSE:ESABFree Report) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 358,781 shares of the company’s stock after selling 14,747 shares during the quarter. Victory Capital Management Inc. owned about 0.60% of ESAB worth $25,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of ESAB. T. Rowe Price Investment Management Inc. lifted its holdings in shares of ESAB by 29.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,517,838 shares of the company’s stock worth $399,657,000 after purchasing an additional 1,920,386 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of ESAB by 2.7% in the 1st quarter. BlackRock Inc. now owns 4,539,005 shares of the company’s stock worth $268,119,000 after purchasing an additional 119,073 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of ESAB by 2,222.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,545,956 shares of the company’s stock worth $150,391,000 after purchasing an additional 2,436,338 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of ESAB by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,102,992 shares of the company’s stock worth $139,932,000 after purchasing an additional 83,195 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of ESAB by 2,239.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,569,713 shares of the company’s stock worth $73,651,000 after purchasing an additional 1,502,611 shares in the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.

Analyst Ratings Changes

ESAB has been the topic of a number of recent analyst reports. Robert W. Baird lifted their target price on ESAB from $83.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 6th. Stifel Nicolaus lifted their target price on ESAB from $105.00 to $106.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. lifted their target price on ESAB from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.50.

Get Our Latest Stock Analysis on ESAB

ESAB Stock Down 1.2 %

ESAB stock opened at $85.99 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.69 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $5.18 billion, a PE ratio of 24.36, a PEG ratio of 1.54 and a beta of 1.50. ESAB Co. has a twelve month low of $54.49 and a twelve month high of $88.39. The stock has a 50-day simple moving average of $84.08 and a two-hundred day simple moving average of $75.22.

ESAB (NYSE:ESABGet Free Report) last posted its earnings results on Wednesday, November 1st. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.16. The business had revenue of $681.10 million during the quarter, compared to analyst estimates of $628.17 million. ESAB had a return on equity of 18.02% and a net margin of 7.85%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, equities analysts predict that ESAB Co. will post 4.37 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Thursday, December 28th. ESAB’s payout ratio is 6.80%.

Insiders Place Their Bets

In other news, insider Olivier Biebuyck sold 571 shares of ESAB stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $74.99, for a total transaction of $42,819.29. Following the completion of the sale, the insider now owns 6,441 shares in the company, valued at approximately $483,010.59. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Olivier Biebuyck sold 571 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $74.99, for a total value of $42,819.29. Following the transaction, the insider now owns 6,441 shares of the company’s stock, valued at approximately $483,010.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michele Campion sold 4,934 shares of ESAB stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $81.72, for a total transaction of $403,206.48. The disclosure for this sale can be found here. Insiders have sold 13,726 shares of company stock worth $1,115,462 in the last ninety days. 7.00% of the stock is currently owned by insiders.

About ESAB

(Free Report)

ESAB Corporation engages in the formulation, development, manufacture, and supply of consumable products and equipment for use in cutting, joining, and automated welding; and 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.

Read More

Want to see what other hedge funds are holding ESAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ESAB Co. (NYSE:ESABFree Report).

Institutional Ownership by Quarter for ESAB (NYSE:ESAB)

Receive News & Ratings for ESAB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ESAB and related companies with MarketBeat.com's FREE daily email newsletter.