Hsbc Holdings PLC Has $438,000 Holdings in ESAB Corporation $ESAB

Hsbc Holdings PLC cut its holdings in shares of ESAB Corporation (NYSE:ESAB) by 87.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,914 shares of the company’s stock after selling 26,682 shares during the quarter. Hsbc Holdings PLC’s holdings in ESAB were worth $438,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its stake in ESAB by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,006,238 shares of the company’s stock worth $894,457,000 after acquiring an additional 45,841 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of ESAB by 11.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,852,692 shares of the company’s stock valued at $653,864,000 after acquiring an additional 613,327 shares during the period. Durable Capital Partners LP lifted its position in shares of ESAB by 40.5% during the 3rd quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock valued at $217,430,000 after acquiring an additional 560,678 shares during the period. Geode Capital Management LLC lifted its position in shares of ESAB by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 1,318,269 shares of the company’s stock valued at $147,300,000 after acquiring an additional 16,466 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of ESAB by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,181,526 shares of the company’s stock worth $132,008,000 after purchasing an additional 35,782 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings cut ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, April 27th. Stifel Nicolaus set a $141.00 price objective on shares of ESAB in a research report on Friday, May 8th. Roth Capital increased their price objective on shares of ESAB from $142.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. decreased their target price on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, April 10th. Finally, Wall Street Zen cut shares of ESAB from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.50.

ESAB Price Performance

Shares of NYSE:ESAB opened at $89.77 on Friday. ESAB Corporation has a one year low of $82.18 and a one year high of $137.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.97 and a quick ratio of 2.26. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.69 and a beta of 1.17. The firm has a 50 day simple moving average of $92.84 and a 200 day simple moving average of $105.25.

ESAB (NYSE:ESAB) last posted its earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The firm had revenue of $745.60 million during the quarter, compared to the consensus estimate of $706.74 million. ESAB had a net margin of 7.11% and a return on equity of 15.04%. ESAB’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 earnings per share. Research analysts predict that ESAB Corporation will post 5.79 earnings per share for the current fiscal year.

ESAB Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were given a $0.12 dividend. This is an increase from ESAB’s previous quarterly dividend of $0.10. The ex-dividend date was Thursday, July 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. ESAB’s dividend payout ratio is presently 14.20%.

ESAB Company Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.