Walleye Capital LLC bought a new position in ESAB Corporation (NYSE:ESAB – Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 29,169 shares of the company’s stock, valued at approximately $2,877,000.
A number of other large investors have also made changes to their positions in ESAB. Teacher Retirement System of Texas increased its holdings in shares of ESAB by 33.9% in the fourth quarter. Teacher Retirement System of Texas now owns 177,428 shares of the company’s stock worth $19,822,000 after acquiring an additional 44,877 shares in the last quarter. TimesSquare Capital Management LLC grew its position in shares of ESAB by 37.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 959,101 shares of the company’s stock valued at $107,151,000 after purchasing an additional 262,850 shares during the period. Bessemer Group Inc. grew its position in shares of ESAB by 6,787.0% in the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock valued at $117,730,000 after purchasing an additional 1,038,475 shares during the period. William Blair Investment Management LLC bought a new stake in ESAB during the 4th quarter worth approximately $22,905,000. Finally, Schwartz Investment Counsel Inc. acquired a new stake in ESAB during the 4th quarter worth approximately $8,938,000. Institutional investors own 91.13% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on ESAB shares. Roth Capital upped their price target on shares of ESAB from $142.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Weiss Ratings lowered shares of ESAB from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. DA Davidson assumed coverage on shares of ESAB in a research note on Monday, June 15th. They issued a “buy” rating and a $130.00 target price for the company. Oppenheimer lowered their target price on ESAB from $140.00 to $135.00 and set an “outperform” rating for the company in a report on Tuesday, July 21st. Finally, Stifel Nicolaus dropped their price target on ESAB from $141.00 to $137.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $138.38.
Insider Activity
In related news, Director Rhonda L. Jordan sold 1,000 shares of ESAB stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the director owned 1,000 shares of the company’s stock, valued at approximately $95,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.20% of the company’s stock.
ESAB Stock Performance
Shares of ESAB opened at $84.83 on Friday. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 1.66 and a beta of 1.19. ESAB Corporation has a 12 month low of $82.18 and a 12 month high of $137.42. The firm has a fifty day simple moving average of $91.50 and a 200 day simple moving average of $101.07. The company has a current ratio of 1.96, a quick ratio of 1.22 and a debt-to-equity ratio of 0.99.
ESAB (NYSE:ESAB – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.04). ESAB had a net margin of 5.75% and a return on equity of 14.48%. The business had revenue of $807.63 million during the quarter, compared to analyst estimates of $755.64 million. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. ESAB has set its FY 2026 guidance at 5.400-5.500 EPS. Research analysts forecast that ESAB Corporation will post 5.46 EPS for the current fiscal year.
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.
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