Dynamic Advisor Solutions LLC lessened its stake in ESAB Corporation (NYSE:ESAB – Free Report) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,619 shares of the company’s stock after selling 289 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in ESAB were worth $1,121,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of ESAB. SBI Securities Co. Ltd. purchased a new stake in shares of ESAB during the fourth quarter valued at approximately $36,000. Advantage Alpha Capital Partners LP increased its position in shares of ESAB by 8.5% during the fourth quarter. Advantage Alpha Capital Partners LP now owns 32,775 shares of the company’s stock valued at $3,931,000 after acquiring an additional 2,571 shares during the last quarter. Atria Investments Inc increased its position in shares of ESAB by 30.1% during the fourth quarter. Atria Investments Inc now owns 9,279 shares of the company’s stock valued at $1,113,000 after acquiring an additional 2,147 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ESAB by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,712 shares of the company’s stock valued at $62,214,000 after acquiring an additional 1,391 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of ESAB by 8.1% during the fourth quarter. Sei Investments Co. now owns 132,642 shares of the company’s stock valued at $15,909,000 after acquiring an additional 9,930 shares during the last quarter. Institutional investors own 91.13% of the company’s stock.
ESAB Price Performance
ESAB stock opened at $119.52 on Wednesday. ESAB Corporation has a one year low of $88.54 and a one year high of $135.97. The business has a fifty day moving average price of $122.14 and a 200-day moving average price of $122.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.91 and a quick ratio of 1.24. The firm has a market capitalization of $7.25 billion, a P/E ratio of 26.92, a PEG ratio of 3.02 and a beta of 1.31.
ESAB Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.10 per share. This is a positive change from ESAB’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, July 3rd. This represents a $0.40 annualized dividend and a yield of 0.33%. ESAB’s dividend payout ratio (DPR) is currently 7.21%.
Insider Activity at ESAB
In related news, Director Rhonda L. Jordan sold 1,500 shares of ESAB stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $126.42, for a total transaction of $189,630.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Olivier Biebuyck sold 1,417 shares of ESAB stock in a transaction on Monday, May 12th. The shares were sold at an average price of $131.15, for a total value of $185,839.55. Following the sale, the insider now directly owns 14,989 shares of the company’s stock, valued at $1,965,807.35. This represents a 8.64% decrease in their position. The disclosure for this sale can be found here. 7.30% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on ESAB shares. Robert W. Baird set a $143.00 target price on ESAB in a research report on Friday, May 2nd. Evercore ISI raised their target price on ESAB from $120.00 to $125.00 and gave the stock an “in-line” rating in a research report on Monday, May 19th. UBS Group raised ESAB from a “neutral” rating to a “buy” rating and raised their target price for the stock from $123.00 to $147.00 in a research report on Tuesday, April 1st. Stifel Nicolaus raised their target price on ESAB from $109.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their target price on ESAB from $133.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.22.
Check Out Our Latest Analysis on ESAB
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.
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