ESAB Co. (NYSE:ESAB) Shares Purchased by Hancock Whitney Corp

Hancock Whitney Corp boosted its holdings in shares of ESAB Co. (NYSE:ESAB) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,941 shares of the company’s stock after acquiring an additional 244 shares during the quarter. Hancock Whitney Corp’s holdings in ESAB were worth $2,032,000 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. HighTower Advisors LLC purchased a new position in shares of ESAB during the 3rd quarter worth approximately $215,000. Barclays PLC lifted its stake in ESAB by 46.7% during the third quarter. Barclays PLC now owns 31,513 shares of the company’s stock worth $3,349,000 after purchasing an additional 10,027 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of ESAB during the third quarter worth $274,000. Tidal Investments LLC grew its stake in shares of ESAB by 12.5% in the third quarter. Tidal Investments LLC now owns 4,409 shares of the company’s stock valued at $469,000 after buying an additional 490 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of ESAB by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock valued at $202,001,000 after buying an additional 337,983 shares during the period. Hedge funds and other institutional investors own 91.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ESAB Stock Up 4.1 %

Shares of NYSE ESAB opened at $120.03 on Friday. The business has a 50-day moving average of $118.33 and a two-hundred day moving average of $120.92. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 2.01 and a beta of 1.37. ESAB Co. has a 1 year low of $88.54 and a 1 year high of $135.97. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.82 and a quick ratio of 1.25.

ESAB (NYSE:ESAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.13. ESAB had a return on equity of 17.43% and a net margin of 9.66%. The firm had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. On average, analysts forecast that ESAB Co. will post 5.16 earnings per share for the current fiscal year.

ESAB Dividend Announcement

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

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.