ORG Wealth Partners LLC Acquires Shares of 287 ESAB Co. (NYSE:ESAB)

ORG Wealth Partners LLC acquired a new stake in shares of ESAB Co. (NYSE:ESAB) during the 4th quarter, Holdings Channel reports. The fund acquired 287 shares of the company’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after buying an additional 147 shares in the last quarter. Blue Trust Inc. lifted its position in ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after acquiring an additional 529 shares in the last quarter. Quest Partners LLC lifted its position in ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after acquiring an additional 607 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in shares of ESAB in the 3rd quarter worth $77,000. Finally, Asset Management One Co. Ltd. raised its stake in shares of ESAB by 20.4% in the third quarter. Asset Management One Co. Ltd. now owns 1,123 shares of the company’s stock worth $119,000 after purchasing an additional 190 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on ESAB shares. Loop Capital increased their price objective on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lowered shares of ESAB from a “buy” rating to a “hold” rating and reduced their price target for the stock from $138.00 to $130.00 in a research note on Monday, November 18th. Jefferies Financial Group assumed coverage on shares of ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. Finally, Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and increased their price target for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $133.43.

ESAB Stock Down 2.0 %

NYSE ESAB opened at $115.28 on Friday. ESAB Co. has a 52 week low of $82.64 and a 52 week high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $6.97 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 2.23 and a beta of 1.37. The stock’s 50-day moving average price is $125.48 and its 200-day moving average price is $109.84.

ESAB (NYSE:ESAB) last released its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The company had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $620.50 million. ESAB had a net margin of 9.47% and a return on equity of 17.27%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.08 EPS. On average, equities research analysts predict that ESAB Co. will post 4.93 earnings per share for the current year.

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Tuesday, December 31st. ESAB’s dividend payout ratio is currently 7.49%.

Insiders Place Their Bets

In related news, Director Rhonda L. Jordan sold 4,254 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin J. Johnson sold 5,044 shares of ESAB stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total transaction of $630,500.00. Following the completion of the sale, the chief financial officer now owns 11,433 shares in the company, valued at approximately $1,429,125. This represents a 30.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,418 shares of company stock worth $8,431,773. Corporate insiders own 7.00% of the company’s stock.

ESAB 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.