ESAB Corporation $ESAB Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in shares of ESAB Corporation (NYSE:ESAB) by 26.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,325 shares of the company’s stock after acquiring an additional 481 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ESAB were worth $280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of ESAB during the 1st quarter worth $33,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in ESAB by 706.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 363 shares of the company’s stock valued at $42,000 after buying an additional 318 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in ESAB during the second quarter worth about $59,000. Quarry LP increased its position in shares of ESAB by 637.2% during the first quarter. Quarry LP now owns 1,268 shares of the company’s stock valued at $148,000 after acquiring an additional 1,096 shares during the last quarter. Finally, Cross Staff Investments Inc purchased a new stake in shares of ESAB in the 2nd quarter valued at approximately $201,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

NYSE:ESAB opened at $112.08 on Thursday. ESAB Corporation has a 52 week low of $100.17 and a 52 week high of $135.84. The company has a fifty day simple moving average of $114.36 and a two-hundred day simple moving average of $119.16. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.62. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.17 and a beta of 1.23.

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

ESAB Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group increased their price objective 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. JPMorgan Chase & Co. raised their price target on ESAB from $138.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Oppenheimer dropped their price objective on ESAB from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of ESAB in a research note on Tuesday. Finally, Zacks Research cut ESAB from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, ESAB has an average rating of “Moderate Buy” and a consensus price target of $143.33.

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.