Kapitalo Investimentos Ltda Makes New $47,000 Investment in ESAB Co. (NYSE:ESAB)

Kapitalo Investimentos Ltda acquired a new stake in shares of ESAB Co. (NYSE:ESAB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 395 shares of the company’s stock, valued at approximately $47,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Voleon Capital Management LP purchased a new stake in ESAB during the 4th quarter valued at about $438,000. Northern Trust Corp lifted its position in ESAB by 15.7% in the fourth quarter. Northern Trust Corp now owns 541,561 shares of the company’s stock valued at $64,955,000 after purchasing an additional 73,405 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of ESAB during the fourth quarter valued at approximately $4,365,000. Hancock Whitney Corp grew its holdings in shares of ESAB by 1.5% in the fourth quarter. Hancock Whitney Corp now owns 16,941 shares of the company’s stock worth $2,032,000 after purchasing an additional 244 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of ESAB by 3.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,538,081 shares of the company’s stock worth $904,118,000 after buying an additional 225,345 shares during the period. 91.13% of the stock is owned by institutional investors.

ESAB Stock Performance

Shares of ESAB opened at $118.10 on Friday. ESAB Co. has a one year low of $88.54 and a one year high of $135.97. The company has a 50-day simple moving average of $117.87 and a two-hundred day simple moving average of $121.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25. The firm has a market capitalization of $7.16 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37.

ESAB (NYSE:ESAB) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.06. The company had revenue of $678.14 million for the quarter, compared to analysts’ expectations of $633.66 million. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.20 earnings per share. On average, analysts anticipate that ESAB Co. will post 5.16 EPS for the current fiscal year.

ESAB Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, April 4th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, April 4th. ESAB’s dividend payout ratio is 7.41%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of ESAB from $133.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Stifel Nicolaus dropped their target price on shares of ESAB from $125.00 to $109.00 and set a “hold” rating for the company in a report on Monday, April 14th. Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and lowered their price target for the company from $122.00 to $120.00 in a research report on Monday, February 24th. Finally, UBS Group upgraded ESAB from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $123.00 to $147.00 in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, ESAB presently has an average rating of “Moderate Buy” and a consensus target price of $133.75.

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.