Dynamic Advisor Solutions LLC Decreases Stock Holdings in ESAB Co. (NYSE:ESAB)

Dynamic Advisor Solutions LLC cut its stake in ESAB Co. (NYSE:ESAB) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,908 shares of the company’s stock after selling 197 shares during the period. Dynamic Advisor Solutions LLC’s holdings in ESAB were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ESAB. ORG Wealth Partners LLC purchased a new stake in shares of ESAB in the 4th quarter valued at approximately $34,000. Trust Co. of Vermont lifted its holdings in ESAB by 871.0% in the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock valued at $36,000 after acquiring an additional 270 shares during the last quarter. GAMMA Investing LLC grew its position in ESAB by 55.9% in the third quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the period. Blue Trust Inc. increased its stake in ESAB by 629.8% during the third quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after acquiring an additional 529 shares during the last quarter. Finally, Quest Partners LLC raised its position in ESAB by 12,140.0% in the third 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. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $123.82 on Monday. The firm has a 50 day moving average of $124.10 and a two-hundred day moving average of $112.30. The stock has a market capitalization of $7.49 billion, a PE ratio of 29.00, a P/E/G ratio of 2.01 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. ESAB Co. has a 52 week low of $85.79 and a 52 week high of $135.97.

ESAB (NYSE:ESAB) last released its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.13. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The firm had revenue of $673.00 million during the quarter, compared to analyst estimates of $620.50 million. During the same period last year, the business posted $1.08 earnings per share. ESAB’s revenue was down 1.2% compared to the same quarter last year. On average, research analysts predict that ESAB Co. will post 4.93 EPS for the current fiscal year.

ESAB Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were paid a $0.08 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 0.26%. ESAB’s dividend payout ratio is currently 7.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a report on Friday. Loop Capital lifted their price target on shares of ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and issued a $144.00 price objective (up from $138.00) on shares of ESAB in a report on Friday, November 8th. Jefferies Financial Group assumed coverage on shares of ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $133.57.

Insiders Place Their Bets

In other ESAB news, Director Rhonda L. Jordan sold 4,254 shares of ESAB stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $125.03, for a total transaction of $531,877.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Shyam Kambeyanda sold 59,120 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total value of $7,269,395.20. Following the completion of the transaction, the chief executive officer now owns 53,902 shares in the company, valued at approximately $6,627,789.92. The trade was a 52.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,418 shares of company stock worth $8,431,773 in the last 90 days. Corporate insiders own 7.00% of the company’s stock.

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.