Kestra Investment Management LLC Acquires Shares of 4,068 ESAB Co. (NYSE:ESAB)

Kestra Investment Management LLC acquired a new stake in ESAB Co. (NYSE:ESAB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,068 shares of the company’s stock, valued at approximately $488,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of ESAB by 629.8% during the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock valued at $65,000 after buying an additional 529 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in ESAB by 7.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 466,517 shares of the company’s stock valued at $49,595,000 after acquiring an additional 34,161 shares in the last quarter. International Assets Investment Management LLC acquired a new position in ESAB in the third quarter valued at approximately $15,110,000. Legacy Capital Group California Inc. boosted its position in ESAB by 8.5% in the 3rd quarter. Legacy Capital Group California Inc. now owns 2,320 shares of the company’s stock worth $247,000 after purchasing an additional 181 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of ESAB by 1.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 33,463 shares of the company’s stock worth $3,556,000 after purchasing an additional 445 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 $131.73 on Wednesday. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. The business’s fifty day simple moving average is $122.92 and its 200-day simple moving average is $115.06. The firm has a market cap of $7.96 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 2.01 and a beta of 1.36. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Tuesday, December 31st. ESAB’s dividend payout ratio (DPR) is presently 7.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ESAB shares. Stifel Nicolaus upped their target price on ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Evercore ISI cut ESAB from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $102.00 to $122.00 in a research report on Wednesday, November 13th. Jefferies Financial Group began coverage on ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 price target for the company. Oppenheimer reiterated an “outperform” rating and set a $144.00 price target (up from $138.00) on shares of ESAB in a research report on Friday, November 8th. Finally, Loop Capital boosted their price target on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $133.57.

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.