TimesSquare Capital Management LLC Has $100.71 Million Position in ESAB Co. (NYSE:ESAB)

TimesSquare Capital Management LLC raised its stake in shares of ESAB Co. (NYSE:ESAB) by 104.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 839,685 shares of the company’s stock after buying an additional 428,770 shares during the quarter. ESAB comprises 1.5% of TimesSquare Capital Management LLC’s portfolio, making the stock its 11th biggest position. TimesSquare Capital Management LLC’s holdings in ESAB were worth $100,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ESAB. Blue Trust Inc. increased its stake in ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after purchasing an additional 529 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in ESAB by 7.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company’s stock worth $49,595,000 after purchasing an additional 34,161 shares in the last quarter. International Assets Investment Management LLC bought a new stake in ESAB during the 3rd quarter worth approximately $15,110,000. Legacy Capital Group California Inc. increased its stake in ESAB by 8.5% during the 3rd quarter. Legacy Capital Group California Inc. now owns 2,320 shares of the company’s stock worth $247,000 after purchasing an additional 181 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in ESAB by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 33,463 shares of the company’s stock worth $3,556,000 after purchasing an additional 445 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Trading Up 2.0 %

NYSE ESAB opened at $131.73 on Wednesday. The company has a market cap of $7.96 billion, a PE ratio of 30.85, a PEG ratio of 2.08 and a beta of 1.36. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. ESAB Co. has a 12 month low of $88.54 and a 12 month high of $135.97. The stock has a 50 day moving average of $122.92 and a 200-day moving average of $115.06.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB’s payout ratio is presently 7.49%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ESAB. Jefferies Financial Group began coverage on ESAB in a research note on Thursday, December 12th. They set a “buy” rating and a $160.00 target price for the company. Loop Capital upped their price target on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and set a $144.00 price target (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. Stifel Nicolaus upped their price target on ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Finally, Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and upped their price target for the stock from $102.00 to $122.00 in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $133.57.

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.