ESAB Corporation $ESAB Shares Purchased by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its stake in ESAB Corporation (NYSE:ESAB) by 37.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 959,101 shares of the company’s stock after purchasing an additional 262,850 shares during the period. ESAB comprises approximately 1.6% of TimesSquare Capital Management LLC’s portfolio, making the stock its 10th largest position. TimesSquare Capital Management LLC’s holdings in ESAB were worth $107,151,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ESAB. FNY Investment Advisers LLC acquired a new stake in ESAB in the 3rd quarter valued at approximately $30,000. Northwestern Mutual Wealth Management Co. increased its holdings in ESAB by 109.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock valued at $40,000 after purchasing an additional 174 shares during the last quarter. AlphaQuest LLC acquired a new stake in ESAB in the 3rd quarter valued at approximately $58,000. Hantz Financial Services Inc. increased its holdings in ESAB by 59.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 681 shares of the company’s stock valued at $76,000 after purchasing an additional 254 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in ESAB in the 3rd quarter valued at approximately $78,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Performance

NYSE:ESAB opened at $87.99 on Tuesday. The company has a fifty day simple moving average of $99.27 and a two-hundred day simple moving average of $111.17. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. 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 Corporation has a 52 week low of $87.76 and a 52 week high of $137.42.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). The business had revenue of $745.60 million during the quarter, compared to analyst estimates of $706.74 million. ESAB had a return on equity of 15.04% and a net margin of 7.11%.The business’s revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 EPS. As a group, equities analysts anticipate that ESAB Corporation will post 5.81 earnings per share for the current fiscal year.

ESAB Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Friday, July 3rd will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, July 2nd. This is an increase from ESAB’s previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.5%. ESAB’s payout ratio is presently 11.83%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ESAB shares. JPMorgan Chase & Co. dropped their target price on shares of ESAB from $148.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, April 10th. Oppenheimer restated an “outperform” rating and issued a $140.00 price target on shares of ESAB in a research note on Tuesday, April 14th. Wall Street Zen downgraded shares of ESAB from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings downgraded shares of ESAB from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, April 27th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $130.00 price target (down from $150.00) on shares of ESAB in a research note on Tuesday, March 31st. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

Insider Activity at ESAB

In related news, CEO Shyam Kambeyanda sold 59,404 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $123.79, for a total transaction of $7,353,621.16. Following the completion of the transaction, the chief executive officer owned 99,864 shares in the company, valued at approximately $12,362,164.56. The trade was a 37.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.20% of the company’s stock.

About ESAB

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.