Blue Trust Inc. Has $108,000 Position in ESAB Co. (NYSE:ESAB)

Blue Trust Inc. raised its holdings in shares of ESAB Co. (NYSE:ESAB) by 47.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 903 shares of the company’s stock after buying an additional 290 shares during the quarter. Blue Trust Inc.’s holdings in ESAB were worth $108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in ESAB by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock worth $202,001,000 after purchasing an additional 337,983 shares during the last quarter. Champlain Investment Partners LLC raised its holdings in ESAB by 33.5% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,081,639 shares of the company’s stock valued at $114,989,000 after acquiring an additional 271,459 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ESAB by 19.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company’s stock worth $123,353,000 after acquiring an additional 190,583 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of ESAB during the 3rd quarter worth approximately $15,110,000. Finally, FMR LLC raised its stake in shares of ESAB by 6.2% in the third quarter. FMR LLC now owns 2,196,522 shares of the company’s stock valued at $233,512,000 after purchasing an additional 127,714 shares in the last quarter. 91.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

ESAB Trading Up 2.2 %

Shares of NYSE ESAB opened at $124.50 on Friday. ESAB Co. has a 1-year low of $87.12 and a 1-year high of $135.97. The company has a 50-day moving average of $123.54 and a two-hundred day moving average of $113.52. The company has a market cap of $7.53 billion, a PE ratio of 29.16, a P/E/G ratio of 1.99 and a beta of 1.36. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58.

ESAB Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB’s dividend payout ratio (DPR) is presently 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.