Envestnet Portfolio Solutions Inc. Raises Stake in ESAB Co. (NYSE:ESAB)

Envestnet Portfolio Solutions Inc. lifted its stake in shares of ESAB Co. (NYSE:ESAB) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,968 shares of the company’s stock after acquiring an additional 344 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in ESAB were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Natixis Advisors LLC purchased a new position in ESAB during the fourth quarter worth about $1,928,000. Swiss National Bank raised its position in shares of ESAB by 0.7% during the 4th quarter. Swiss National Bank now owns 112,900 shares of the company’s stock valued at $13,541,000 after buying an additional 800 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of 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 buying an additional 90 shares during the period. HighTower Advisors LLC lifted its holdings in ESAB by 122.3% in the fourth quarter. HighTower Advisors LLC now owns 4,535 shares of the company’s stock valued at $544,000 after acquiring an additional 2,495 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in ESAB in the fourth quarter worth approximately $1,071,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ESAB shares. JPMorgan Chase & Co. upped their price target on ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Stifel Nicolaus decreased their target price on shares of ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group started coverage on shares of ESAB in a research note on Thursday, December 12th. They set a “buy” rating and a $160.00 target price for the company. Finally, Evercore ISI raised shares of ESAB from an “underperform” rating to an “inline” rating and reduced their price target for the company from $122.00 to $120.00 in a research note on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, ESAB has an average rating of “Moderate Buy” and an average price target of $134.14.

ESAB Stock Performance

Shares of ESAB stock opened at $122.89 on Wednesday. The company has a 50 day moving average price of $122.90 and a 200 day moving average price of $119.14. The stock has a market capitalization of $7.44 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.82. ESAB Co. has a fifty-two week low of $88.54 and a fifty-two week high of $135.97.

ESAB (NYSE:ESAB) last released its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.15 by $0.13. The firm had revenue of $633.20 million during the quarter, compared to analysts’ expectations of $636.43 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. Equities research analysts predict that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, April 4th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date is Friday, April 4th. ESAB’s dividend payout ratio is presently 7.41%.

ESAB Company 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.