Hudson Value Partners LLC Reduces Holdings in ESAB Co. (NYSE:ESAB)

Hudson Value Partners LLC reduced its stake in ESAB Co. (NYSE:ESAB) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 47,678 shares of the company’s stock after selling 723 shares during the quarter. ESAB accounts for 2.1% of Hudson Value Partners LLC’s investment portfolio, making the stock its 13th largest position. Hudson Value Partners LLC owned 0.08% of ESAB worth $5,718,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in shares of ESAB during the 4th quarter worth $34,000. Trust Co. of Vermont raised its stake in ESAB by 871.0% during the 4th quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after acquiring an additional 270 shares in the last quarter. Blue Trust Inc. increased its position in shares of ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after purchasing an additional 529 shares in the last quarter. Quest Partners LLC boosted its position in shares of ESAB by 12,140.0% in the 3rd quarter. Quest Partners LLC now owns 612 shares of the company’s stock valued at $65,000 after purchasing an additional 607 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of ESAB by 33.9% in the fourth quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ESAB shares. Stifel Nicolaus lifted their target price on shares of ESAB from $130.00 to $131.00 and gave the company a “hold” rating in a report on Friday, January 24th. Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $102.00 to $122.00 in a report on Wednesday, November 13th. Loop Capital boosted their price objective on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Oppenheimer reaffirmed an “outperform” rating and issued a $144.00 target price (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. Finally, Jefferies Financial Group began coverage on ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $133.57.

ESAB Price Performance

ESAB stock opened at $131.73 on Wednesday. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $7.96 billion, a P/E ratio of 30.85, a PEG ratio of 2.08 and a beta of 1.36. The business has a 50-day moving average of $122.92 and a 200-day moving average of $115.06.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB’s dividend payout ratio (DPR) is currently 7.49%.

About ESAB

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.