ESAB Corporation $ESAB Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. trimmed its stake in shares of ESAB Corporation (NYSE:ESAB) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,267,282 shares of the company’s stock after selling 120,344 shares during the period. JPMorgan Chase & Co.’s holdings in ESAB were worth $273,321,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ESAB. Dynamic Technology Lab Private Ltd purchased a new position in ESAB in the 2nd quarter valued at approximately $676,000. Seizert Capital Partners LLC boosted its position in ESAB by 2.3% during the second quarter. Seizert Capital Partners LLC now owns 17,037 shares of the company’s stock worth $2,054,000 after purchasing an additional 379 shares in the last quarter. Dorsey Wright & Associates grew its holdings in ESAB by 1.4% in the second quarter. Dorsey Wright & Associates now owns 46,691 shares of the company’s stock valued at $5,629,000 after purchasing an additional 636 shares during the last quarter. Intech Investment Management LLC increased its position in shares of ESAB by 85.6% in the second quarter. Intech Investment Management LLC now owns 5,169 shares of the company’s stock valued at $623,000 after buying an additional 2,384 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of ESAB by 8.6% during the 2nd quarter. Cetera Investment Advisers now owns 25,694 shares of the company’s stock worth $3,097,000 after buying an additional 2,028 shares during the last quarter. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ESAB. JPMorgan Chase & Co. increased their price objective on shares of ESAB from $138.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. UBS Group lifted their target price on shares of ESAB from $147.00 to $149.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Loop Capital upgraded shares of ESAB from a “hold” rating to a “buy” rating and increased their price target for the company from $130.00 to $140.00 in a research report on Friday, August 22nd. Oppenheimer dropped their price objective on shares of ESAB from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Finally, Stifel Nicolaus upgraded ESAB from a “hold” rating to a “buy” rating and set a $141.00 price objective for the company in a research report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

ESAB Price Performance

ESAB stock opened at $107.56 on Tuesday. The stock has a market capitalization of $6.53 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.06 and a beta of 1.23. ESAB Corporation has a 12-month low of $100.17 and a 12-month high of $135.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24. The firm’s 50-day moving average is $114.25 and its two-hundred day moving average is $119.33.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.05. The business had revenue of $727.85 million during the quarter, compared to analyst estimates of $663.57 million. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 earnings per share. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. Equities analysts predict that ESAB Corporation will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Friday, October 3rd were issued a dividend of $0.10 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.40 annualized dividend and a dividend yield of 0.4%. ESAB’s dividend payout ratio (DPR) is 10.08%.

ESAB Company 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.