Legacy Capital Group California Inc. Has $295,000 Stock Position in ESAB Co. (NYSE:ESAB)

Legacy Capital Group California Inc. lifted its holdings in ESAB Co. (NYSE:ESAB) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,459 shares of the company’s stock after purchasing an additional 139 shares during the period. Legacy Capital Group California Inc.’s holdings in ESAB were worth $295,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its holdings in ESAB by 7.6% in the 4th quarter. Handelsbanken Fonder AB now owns 15,500 shares of the company’s stock worth $1,859,000 after purchasing an additional 1,100 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of ESAB by 104.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 839,685 shares of the company’s stock valued at $100,712,000 after purchasing an additional 428,770 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of ESAB in the fourth quarter worth $488,000. Truist Financial Corp boosted its holdings in shares of ESAB by 8.6% during the 4th quarter. Truist Financial Corp now owns 3,511 shares of the company’s stock worth $421,000 after buying an additional 278 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in ESAB in the 4th quarter valued at $223,000. 91.13% of the stock is currently owned by institutional investors.

ESAB Trading Down 0.0 %

ESAB stock opened at $120.07 on Friday. The business has a 50 day moving average price of $122.57 and a two-hundred day moving average price of $115.61. The company has a quick ratio of 1.25, a current ratio of 1.92 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 market cap of $7.26 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36.

ESAB (NYSE:ESAB) last issued its earnings results on Thursday, February 20th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The business had revenue of $633.20 million during the quarter, compared to analyst estimates of $636.43 million. As a group, equities analysts forecast that ESAB Co. will post 4.92 EPS for the current year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.27%. ESAB’s dividend payout ratio (DPR) is currently 7.41%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Stifel Nicolaus cut their target price on shares of ESAB from $131.00 to $125.00 and set a “hold” rating for the company in a research report on Friday. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and boosted their price objective for the stock from $102.00 to $122.00 in a research report on Wednesday, November 13th. Loop Capital raised their target price on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Jefferies Financial Group assumed coverage on ESAB in a research report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on ESAB from $135.00 to $133.00 and set an “overweight” rating for the company in a research report on Friday. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $133.43.

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.