Teacher Retirement System of Texas Has $4.99 Million Holdings in ESAB Co. (NYSE:ESAB)

Teacher Retirement System of Texas trimmed its holdings in ESAB Co. (NYSE:ESAB) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,601 shares of the company’s stock after selling 7,704 shares during the period. Teacher Retirement System of Texas’ holdings in ESAB were worth $4,990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its holdings in ESAB by 70.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 218 shares of the company’s stock valued at $26,000 after acquiring an additional 90 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in ESAB in the fourth quarter valued at about $34,000. SBI Securities Co. Ltd. bought a new stake in ESAB during the fourth quarter worth about $36,000. Trust Co. of Vermont grew its stake in ESAB by 871.0% during the fourth quarter. Trust Co. of Vermont now owns 301 shares of the company’s stock worth $36,000 after buying an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in ESAB by 33.9% in the 4th quarter. GAMMA Investing LLC now owns 549 shares of the company’s stock valued at $66,000 after buying an additional 139 shares during the period. 91.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of ESAB from $133.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Stifel Nicolaus reduced their target price on ESAB from $131.00 to $125.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Evercore ISI raised ESAB from an “underperform” rating to an “inline” rating and lowered their price target for the stock from $122.00 to $120.00 in a report on Monday, February 24th. Finally, Jefferies Financial Group initiated coverage on ESAB in a research report on Thursday, December 12th. They set a “buy” rating and a $160.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.14.

ESAB Stock Down 1.3 %

NYSE:ESAB opened at $118.79 on Monday. ESAB Co. has a one year low of $88.54 and a one 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. The company has a market cap of $7.19 billion, a PE ratio of 27.50, a P/E/G ratio of 2.01 and a beta of 1.36. The firm’s 50 day simple moving average is $122.78 and its 200 day simple moving average is $118.95.

ESAB (NYSE:ESAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.28 earnings per share 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 business had revenue of $633.20 million during the quarter, compared to the consensus estimate of $636.43 million. On average, research analysts anticipate that ESAB Co. will post 5.16 earnings per share for the current year.

ESAB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, April 4th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, April 4th. ESAB’s dividend payout ratio is currently 7.41%.

About ESAB

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.