ESAB Co. (NYSE:ESAB) Shares Sold by Rheos Capital Works Inc.

Rheos Capital Works Inc. decreased its stake in shares of ESAB Co. (NYSE:ESAB) by 33.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,166 shares of the company’s stock after selling 15,500 shares during the quarter. Rheos Capital Works Inc.’s holdings in ESAB were worth $3,738,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in ESAB by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock valued at $202,001,000 after purchasing an additional 337,983 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of ESAB by 33.5% in the third quarter. Champlain Investment Partners LLC now owns 1,081,639 shares of the company’s stock valued at $114,989,000 after buying an additional 271,459 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ESAB by 19.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,160,056 shares of the company’s stock worth $123,353,000 after purchasing an additional 190,583 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of ESAB during the 3rd quarter valued at approximately $15,110,000. Finally, FMR LLC boosted its position in ESAB by 6.2% during the third quarter. FMR LLC now owns 2,196,522 shares of the company’s stock worth $233,512,000 after purchasing an additional 127,714 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Analysts Set New Price Targets

ESAB has been the subject of several recent research reports. Oppenheimer reissued an “outperform” rating and set a $144.00 price target (up previously from $138.00) on shares of ESAB in a research report on Friday, November 8th. Evercore ISI lowered ESAB from an “in-line” rating to an “underperform” rating and upped their target price for the company from $102.00 to $122.00 in a research note on Wednesday, November 13th. Loop Capital raised 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. Jefferies Financial Group started coverage on shares of ESAB in a research note on Thursday, December 12th. They set a “buy” rating and a $160.00 price objective for the company. Finally, Stifel Nicolaus raised their target price on shares of ESAB from $130.00 to $131.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, ESAB has a consensus rating of “Hold” and an average target price of $133.57.

ESAB Stock Performance

NYSE:ESAB opened at $124.12 on Monday. ESAB Co. has a twelve month low of $85.79 and a twelve month high of $135.97. The firm has a market capitalization of $7.50 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.99 and a beta of 1.36. The company has a current ratio of 1.92, a quick ratio of 1.25 and a debt-to-equity ratio of 0.58. The firm’s fifty day simple moving average is $123.99 and its 200 day simple moving average is $113.14.

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. ESAB’s payout ratio is currently 7.49%.

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.