ESAB Corporation $ESAB Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in shares of ESAB Corporation (NYSE:ESAB) by 61.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,610 shares of the company’s stock after selling 27,736 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in ESAB were worth $1,968,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ESAB. Sumitomo Mitsui Trust Group Inc. raised its position in shares of ESAB by 3.1% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,693 shares of the company’s stock valued at $325,000 after buying an additional 81 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of ESAB by 0.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after buying an additional 95 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of ESAB by 0.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,000 shares of the company’s stock worth $1,929,000 after buying an additional 100 shares during the last quarter. State of Michigan Retirement System raised its position in shares of ESAB by 0.7% in the 2nd quarter. State of Michigan Retirement System now owns 13,702 shares of the company’s stock worth $1,652,000 after buying an additional 100 shares during the period. Finally, ProShare Advisors LLC grew its position in ESAB by 4.4% during the second quarter. ProShare Advisors LLC now owns 2,527 shares of the company’s stock valued at $305,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Trading Up 1.0%

ESAB opened at $120.96 on Friday. The firm’s 50 day moving average is $115.28 and its 200-day moving average is $116.35. ESAB Corporation has a 52-week low of $100.17 and a 52-week high of $135.84. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $7.34 billion, a P/E ratio of 30.47, a P/E/G ratio of 2.09 and a beta of 1.24.

ESAB (NYSE:ESAB) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The business had revenue of $727.85 million during the quarter, compared to analyst estimates of $663.57 million. During the same period last year, the business earned $1.25 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Analysts expect that ESAB Corporation will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. ESAB’s dividend payout ratio is presently 10.08%.

Analysts Set New Price Targets

A number of research firms have recently commented on ESAB. JPMorgan Chase & Co. cut their price objective on ESAB from $140.00 to $138.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Oppenheimer lifted their price target on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. Stifel Nicolaus boosted their price objective on shares of ESAB from $143.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. UBS Group raised their target price on shares of ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of ESAB in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, ESAB presently has an average rating of “Moderate Buy” and a consensus target price of $142.13.

ESAB 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.