KBC Group NV Trims Stock Holdings in ESAB Corporation $ESAB

KBC Group NV decreased its position in ESAB Corporation (NYSE:ESAB) by 38.4% in the second quarter, Holdings Channel.com reports. The firm owned 1,604 shares of the company’s stock after selling 1,002 shares during the quarter. KBC Group NV’s holdings in ESAB were worth $193,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ESAB. Mitsubishi UFJ Trust & Banking Corp grew its holdings in ESAB by 4.0% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 112,039 shares of the company’s stock worth $13,506,000 after purchasing an additional 4,359 shares during the period. ProShare Advisors LLC boosted its position in shares of ESAB by 4.4% in the 2nd quarter. ProShare Advisors LLC now owns 2,527 shares of the company’s stock worth $305,000 after purchasing an additional 106 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of ESAB in the 2nd quarter worth approximately $774,000. Savant Capital LLC increased its position in ESAB by 41.3% during the 2nd quarter. Savant Capital LLC now owns 6,854 shares of the company’s stock valued at $826,000 after buying an additional 2,005 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in ESAB during the second quarter valued at $59,000. Institutional investors own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB opened at $107.15 on Wednesday. The firm has a market capitalization of $6.51 billion, a P/E ratio of 26.99, a PEG ratio of 2.08 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24. ESAB Corporation has a one year low of $100.17 and a one year high of $135.84. The business has a fifty day moving average of $114.71 and a 200 day moving average of $119.82.

ESAB (NYSE:ESAB) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.05. The firm had revenue of $727.85 million for the quarter, compared to analysts’ expectations of $663.57 million. ESAB had a net margin of 8.70% and a return on equity of 15.93%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 EPS. ESAB has set its FY 2025 guidance at 5.200-5.30 EPS. As a group, sell-side analysts anticipate that ESAB Corporation will post 5.16 EPS for the current year.

ESAB Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on ESAB. JPMorgan Chase & Co. lifted 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. Roth Capital began coverage on shares of ESAB in a report on Friday, September 5th. They issued a “buy” rating and a $150.00 target price for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of ESAB in a research report on Thursday, November 13th. Oppenheimer decreased their price objective on shares of ESAB from $144.00 to $142.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Finally, Loop Capital upgraded ESAB from a “hold” rating to a “buy” rating and increased their target price for the company from $130.00 to $140.00 in a research note on Friday, August 22nd. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.