Bank of Nova Scotia Purchases Shares of 8,462 ESAB Corporation $ESAB

Bank of Nova Scotia acquired a new position in shares of ESAB Corporation (NYSE:ESAB – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,462 shares of the company’s stock, valued at approximately $818,000.

A number of other large investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans increased its position in shares of ESAB by 0.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 13,417 shares of the company’s stock valued at $1,617,000 after acquiring an additional 95 shares during the period. Public Employees Retirement System of Ohio lifted its position in ESAB by 0.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 19,605 shares of the company’s stock worth $2,191,000 after acquiring an additional 107 shares during the period. HB Wealth Management LLC lifted its position in ESAB by 5.0% during the 1st quarter. HB Wealth Management LLC now owns 2,479 shares of the company’s stock worth $240,000 after acquiring an additional 118 shares during the period. Coldstream Capital Management Inc. grew its stake in ESAB by 5.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,689 shares of the company’s stock valued at $300,000 after purchasing an additional 149 shares during the last quarter. Finally, Lafayette Investments Inc. grew its stake in ESAB by 0.5% during the 4th quarter. Lafayette Investments Inc. now owns 34,266 shares of the company’s stock valued at $3,828,000 after purchasing an additional 161 shares during the last quarter. 91.13% of the stock is owned by hedge funds and other institutional investors.

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ESAB Stock Down 3.4%

ESAB stock opened at $86.17 on Thursday. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 1.66 and a beta of 1.17. ESAB Corporation has a 52 week low of $82.18 and a 52 week high of $137.42. The business’s 50-day moving average price is $92.05 and its 200 day moving average price is $103.59. The company has a quick ratio of 2.26, a current ratio of 2.97 and a debt-to-equity ratio of 0.91.

ESAB (NYSE:ESAB – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). ESAB had a net margin of 7.11% and a return on equity of 15.04%. The company had revenue of $745.60 million for the quarter, compared to analysts’ expectations of $706.74 million. During the same quarter in the prior year, the business posted $1.25 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that ESAB Corporation will post 5.72 earnings per share for the current year.

ESAB Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, July 2nd. This is a positive change from ESAB’s previous quarterly dividend of $0.10. ESAB’s dividend payout ratio is 14.20%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ESAB. Oppenheimer cut their price objective on ESAB from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. JPMorgan Chase & Co. dropped their target price on ESAB from $148.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, April 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of ESAB in a report on Friday, July 24th. Stifel Nicolaus reduced their price target on shares of ESAB from $141.00 to $137.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Finally, Roth Capital upped their price objective on shares of ESAB from $142.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, ESAB has a consensus rating of “Moderate Buy” and a consensus price target of $138.38.

Read Our Latest Stock Analysis on ESAB

About ESAB

(Free Report)

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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