Quantbot Technologies LP Trims Stock Holdings in ESAB Co. (NYSE:ESAB)

Quantbot Technologies LP lessened its stake in shares of ESAB Co. (NYSE:ESAB) by 98.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 504 shares of the company’s stock after selling 28,720 shares during the quarter. Quantbot Technologies LP’s holdings in ESAB were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of ESAB by 55.9% during the 3rd quarter. GAMMA Investing LLC now owns 410 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares during the period. Hantz Financial Services Inc. purchased a new position in ESAB during the second quarter worth about $42,000. Quest Partners LLC lifted its position in ESAB by 12,140.0% during the third quarter. Quest Partners LLC now owns 612 shares of the company’s stock worth $65,000 after buying an additional 607 shares during the period. Blue Trust Inc. boosted its stake in ESAB by 629.8% in the 3rd quarter. Blue Trust Inc. now owns 613 shares of the company’s stock worth $65,000 after buying an additional 529 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in ESAB in the 2nd quarter valued at about $92,000. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Down 1.5 %

Shares of ESAB stock opened at $128.41 on Friday. The company has a fifty day moving average price of $119.34 and a 200 day moving average price of $105.77. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. ESAB Co. has a twelve month low of $81.00 and a twelve month high of $135.97. The stock has a market cap of $7.76 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34.

ESAB (NYSE:ESAB) last announced its earnings results on Tuesday, October 29th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.12 by $0.13. The business had revenue of $673.00 million for the quarter, compared to the consensus estimate of $620.50 million. ESAB had a return on equity of 17.27% and a net margin of 9.47%. The company’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. Equities research analysts forecast that ESAB Co. will post 4.94 earnings per share for the current fiscal year.

ESAB Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Friday, September 27th. ESAB’s payout ratio is 7.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ESAB shares. Stifel Nicolaus cut shares of ESAB from a “buy” rating to a “hold” rating and decreased their target price for the stock from $138.00 to $130.00 in a research report on Monday, November 18th. Evercore ISI lowered shares of ESAB from an “in-line” rating to an “underperform” rating and lifted their price target for the company from $102.00 to $122.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on ESAB from $120.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Oppenheimer reiterated an “outperform” rating and issued a $144.00 target price (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Finally, Loop Capital upped their price target on ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $129.00.

Insiders Place Their Bets

In other news, CEO Shyam Kambeyanda sold 59,120 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $122.96, for a total transaction of $7,269,395.20. Following the completion of the sale, the chief executive officer now owns 53,902 shares of the company’s stock, valued at approximately $6,627,789.92. This trade represents a 52.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rhonda L. Jordan sold 4,254 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $125.03, for a total transaction of $531,877.62. The disclosure for this sale can be found here. Insiders have sold 68,418 shares of company stock worth $8,431,773 in the last quarter. 7.00% of the stock is owned by corporate insiders.

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.