ESAB Co. (NYSE:ESAB) Shares Sold by Van Berkom & Associates Inc.

Van Berkom & Associates Inc. decreased its stake in ESAB Co. (NYSE:ESAB) by 3.0% during the 4th quarter, HoldingsChannel reports. The firm owned 306,530 shares of the company’s stock after selling 9,488 shares during the period. Van Berkom & Associates Inc.’s holdings in ESAB were worth $36,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. ORG Wealth Partners LLC acquired a new stake in ESAB in the fourth quarter worth $34,000. Trust Co. of Vermont grew its position in shares of ESAB by 871.0% during the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after acquiring an additional 270 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after acquiring an additional 529 shares during the period. Quest Partners LLC lifted its position in 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 last quarter. Finally, GAMMA Investing LLC boosted its stake in ESAB by 33.9% during the 4th quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 91.13% of the company’s stock.

Wall Street Analyst Weigh In

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

ESAB Stock Performance

Shares of NYSE ESAB opened at $120.48 on Friday. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.92. The stock has a fifty day moving average price of $122.72 and a two-hundred day moving average price of $115.42. The firm has a market cap of $7.28 billion, a P/E ratio of 28.22, a PEG ratio of 2.12 and a beta of 1.36.

ESAB (NYSE:ESAB) last released its earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. Research analysts forecast that ESAB Co. will post 4.92 EPS for the current fiscal year.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. ESAB’s payout ratio is currently 7.49%.

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.