KBC Group NV Sells 1,002 Shares of ESAB Corporation $ESAB

KBC Group NV reduced its position in ESAB Corporation (NYSE:ESAB) by 38.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,604 shares of the company’s stock after selling 1,002 shares during the quarter. KBC Group NV’s holdings in ESAB were worth $193,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Durable Capital Partners LP bought a new position in ESAB during the first quarter valued at approximately $114,067,000. Champlain Investment Partners LLC boosted its stake in shares of ESAB by 42.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,929,099 shares of the company’s stock valued at $224,740,000 after purchasing an additional 570,895 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of ESAB during the 1st quarter valued at $36,415,000. Interval Partners LP purchased a new position in ESAB in the 1st quarter worth $30,769,000. Finally, Nuveen LLC purchased a new position in ESAB in the 1st quarter worth $24,511,000. 91.13% of the stock is owned by hedge funds and other institutional investors.

ESAB Trading Down 0.0%

NYSE ESAB opened at $107.15 on Wednesday. The stock has a market cap of $6.51 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 2.08 and a beta of 1.23. ESAB Corporation has a fifty-two week low of $100.17 and a fifty-two week high of $135.84. The stock has a 50 day simple moving average of $114.71 and a two-hundred day simple moving average of $119.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.24 and a current ratio of 1.99.

ESAB (NYSE:ESAB) last announced its earnings results on Wednesday, October 29th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. ESAB had a return on equity of 15.93% and a net margin of 8.70%.The company had revenue of $727.85 million during the quarter, compared to the consensus estimate of $663.57 million. During the same quarter in the prior year, the company earned $1.25 earnings per share. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. On average, analysts forecast that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Friday, October 3rd were given a dividend of $0.10 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. ESAB’s payout ratio is currently 10.08%.

Analyst Ratings Changes

Several research firms have issued reports on ESAB. Loop Capital upgraded shares of ESAB from a “hold” rating to a “buy” rating and upped their price target for the company from $130.00 to $140.00 in a research report on Friday, August 22nd. Stifel Nicolaus upgraded ESAB from a “hold” rating to a “buy” rating and set a $141.00 price target on the stock in a research report on Thursday, August 7th. Wall Street Zen raised ESAB from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Roth Capital initiated coverage on ESAB in a research note on Friday, September 5th. They set a “buy” rating and a $150.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ESAB in a research note on Thursday, November 13th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.33.

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.