Sanctuary Advisors LLC Sells 229 Shares of ESAB Co. (NYSE:ESAB)

Sanctuary Advisors LLC lowered its position in shares of ESAB Co. (NYSE:ESAB) by 11.3% in the third quarter, HoldingsChannel reports. The fund owned 1,799 shares of the company’s stock after selling 229 shares during the period. Sanctuary Advisors LLC’s holdings in ESAB were worth $191,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. FMR LLC increased its position in ESAB by 6.2% in 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 during the period. State Street Corp increased its stake in shares of ESAB by 3.4% in the 3rd quarter. State Street Corp now owns 1,692,161 shares of the company’s stock valued at $180,028,000 after acquiring an additional 55,458 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 190,583 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in ESAB by 33.5% during the third quarter. Champlain Investment Partners LLC now owns 1,081,639 shares of the company’s stock valued at $114,989,000 after purchasing an additional 271,459 shares during the period. Finally, Royce & Associates LP increased its stake in ESAB by 8.6% in the third quarter. Royce & Associates LP now owns 749,752 shares of the company’s stock valued at $79,706,000 after purchasing an additional 59,447 shares in the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

Insider Buying and Selling at ESAB

In related news, CEO Shyam Kambeyanda sold 59,120 shares of the company’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 transaction, the chief executive officer now directly owns 53,902 shares in the company, valued at $6,627,789.92. This represents a 52.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin J. Johnson sold 5,044 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $125.00, for a total transaction of $630,500.00. Following the completion of the sale, the chief financial officer now owns 11,433 shares in the company, valued at $1,429,125. This represents a 30.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,418 shares of company stock worth $8,431,773 over the last three months. Corporate insiders own 7.00% of the company’s stock.

ESAB Trading Down 1.1 %

Shares of NYSE:ESAB opened at $121.41 on Monday. The business has a 50 day moving average of $124.99 and a 200-day moving average of $108.56. The stock has a market cap of $7.34 billion, a PE ratio of 28.43, a P/E/G ratio of 2.25 and a beta of 1.34. ESAB Co. has a 12-month low of $82.44 and a 12-month high of $135.97. The company has a quick ratio of 1.25, a current ratio of 1.92 and a debt-to-equity ratio of 0.58.

ESAB (NYSE:ESAB) last posted its earnings results on Tuesday, October 29th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.13. The company had revenue of $673.00 million during 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 quarter last year, the firm earned $1.08 earnings per share. As a group, equities research analysts forecast that ESAB Co. will post 4.94 earnings per share for the current year.

ESAB Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Tuesday, December 31st. ESAB’s payout ratio is currently 7.49%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Jefferies Financial Group initiated coverage on ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target for the company. Loop Capital increased their price target on ESAB from $105.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Oppenheimer reiterated an “outperform” rating and set a $144.00 price objective (up previously from $138.00) on shares of ESAB in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of ESAB from $120.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Evercore ISI downgraded ESAB from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $102.00 to $122.00 in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, ESAB currently has an average rating of “Hold” and an average price target of $133.43.

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.