JPMorgan Chase & Co. Sells 710,715 Shares of ESAB Corporation $ESAB

JPMorgan Chase & Co. decreased its position in ESAB Corporation (NYSE:ESAB) by 31.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,556,567 shares of the company’s stock after selling 710,715 shares during the period. JPMorgan Chase & Co.’s holdings in ESAB were worth $173,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its holdings in ESAB by 109.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 333 shares of the company’s stock worth $40,000 after purchasing an additional 174 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of ESAB in the 2nd quarter valued at about $59,000. AlphaQuest LLC acquired a new stake in shares of ESAB during the 3rd quarter worth approximately $58,000. Farther Finance Advisors LLC raised its stake in shares of ESAB by 60.4% during the third quarter. Farther Finance Advisors LLC now owns 669 shares of the company’s stock worth $75,000 after buying an additional 252 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of ESAB by 59.5% during the third quarter. Hantz Financial Services Inc. now owns 681 shares of the company’s stock worth $76,000 after buying an additional 254 shares during the last quarter. 91.13% of the stock is currently owned by institutional investors and hedge funds.

ESAB Price Performance

ESAB opened at $128.52 on Friday. The stock has a market cap of $7.80 billion, a P/E ratio of 34.73, a P/E/G ratio of 2.38 and a beta of 1.24. ESAB Corporation has a 12 month low of $100.17 and a 12 month high of $137.42. 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 fifty day simple moving average of $120.88 and a 200 day simple moving average of $116.23.

ESAB (NYSE:ESAB) last posted its earnings results on Friday, February 20th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.01. ESAB had a return on equity of 15.93% and a net margin of 8.70%.The firm had revenue of $720.99 million for the quarter, compared to analyst estimates of $687.80 million. During the same period in the previous year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, research analysts expect that ESAB Corporation will post 5.16 EPS for the current year.

ESAB Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were given a $0.10 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.40 annualized dividend and a dividend yield of 0.3%. ESAB’s payout ratio is currently 10.81%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ESAB shares. Oppenheimer raised their price objective on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Roth Mkm restated a “buy” rating and issued a $146.00 price target (down from $150.00) on shares of ESAB in a research report on Tuesday, February 3rd. Wall Street Zen downgraded ESAB from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Weiss Ratings lowered ESAB from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their target price on ESAB from $138.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, February 3rd. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.63.

ESAB Company Profile

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.