Dynamic Advisor Solutions LLC Sells 405 Shares of ESAB Co. (NYSE:ESAB)

Dynamic Advisor Solutions LLC trimmed its position in shares of ESAB Co. (NYSE:ESAB) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,272 shares of the company’s stock after selling 405 shares during the period. Dynamic Advisor Solutions LLC’s holdings in ESAB were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ESAB. Whittier Trust Co. lifted its holdings in shares of ESAB by 302.6% during the first quarter. Whittier Trust Co. now owns 314 shares of the company’s stock worth $35,000 after buying an additional 236 shares in the last quarter. ORG Partners LLC bought a new stake in ESAB in the 1st quarter valued at about $35,000. Nomura Asset Management Co. Ltd. grew its position in shares of ESAB by 57.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 420 shares of the company’s stock worth $36,000 after purchasing an additional 154 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of ESAB during the fourth quarter worth approximately $39,000. Finally, Quest Partners LLC bought a new stake in shares of ESAB in the fourth quarter valued at approximately $103,000. 91.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ESAB shares. JPMorgan Chase & Co. decreased their price target on ESAB from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Stifel Nicolaus reduced their target price on shares of ESAB from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Oppenheimer started coverage on ESAB in a research report on Thursday, June 20th. They set an “outperform” rating and a $115.00 price objective for the company. Finally, Bank of America raised their price target on shares of ESAB from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, ESAB presently has an average rating of “Moderate Buy” and a consensus target price of $108.29.

ESAB Trading Up 1.0 %

Shares of NYSE:ESAB traded up $0.95 during mid-day trading on Tuesday, hitting $94.97. The company had a trading volume of 1,748 shares, compared to its average volume of 254,127. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.65 and a quick ratio of 1.01. ESAB Co. has a one year low of $61.43 and a one year high of $114.77. The firm has a fifty day moving average price of $96.00 and a 200 day moving average price of $99.89. The company has a market capitalization of $5.74 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.42.

ESAB (NYSE:ESAB) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.05. The firm had revenue of $707.10 million during the quarter, compared to the consensus estimate of $686.75 million. ESAB had a net margin of 8.39% and a return on equity of 17.59%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 earnings per share. As a group, research analysts forecast that ESAB Co. will post 4.9 EPS for the current year.

ESAB 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.