Allspring Global Investments Holdings LLC Reduces Holdings in ESAB Co. (NYSE:ESAB)

Allspring Global Investments Holdings LLC lowered its position in shares of ESAB Co. (NYSE:ESAB) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 430,909 shares of the company’s stock after selling 35,608 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.71% of ESAB worth $51,001,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in ESAB by 21.6% during the third quarter. JPMorgan Chase & Co. now owns 1,900,115 shares of the company’s stock worth $202,001,000 after acquiring an additional 337,983 shares during the last quarter. Van ECK Associates Corp boosted its position in ESAB by 40.0% during the third quarter. Van ECK Associates Corp now owns 31,712 shares of the company’s stock worth $3,536,000 after acquiring an additional 9,062 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new stake in ESAB during the fourth quarter worth approximately $254,000. Fifth Third Wealth Advisors LLC acquired a new stake in ESAB during the fourth quarter worth approximately $204,000. Finally, Barclays PLC boosted its position in ESAB by 46.7% during the third quarter. Barclays PLC now owns 31,513 shares of the company’s stock worth $3,349,000 after acquiring an additional 10,027 shares during the last quarter. Institutional investors and hedge funds own 91.13% of the company’s stock.

ESAB Stock Performance

Shares of ESAB stock opened at $128.89 on Friday. The company’s fifty day simple moving average is $122.92 and its 200-day simple moving average is $114.34. ESAB Co. has a 52 week low of $88.54 and a 52 week high of $135.97. 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 company has a market cap of $7.79 billion, a PE ratio of 30.18, a P/E/G ratio of 2.01 and a beta of 1.36.

ESAB Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Tuesday, December 31st. ESAB’s dividend payout ratio is presently 7.49%.

Wall Street Analysts Forecast Growth

ESAB has been the topic of a number of analyst reports. Loop Capital raised their target price on shares of ESAB from $105.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Jefferies Financial Group began coverage on shares of ESAB in a report on Thursday, December 12th. They issued a “buy” rating and a $160.00 price target on the stock. 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. Oppenheimer reiterated an “outperform” rating and issued a $144.00 price target (up previously from $138.00) on shares of ESAB in a report on Friday, November 8th. Finally, Stifel Nicolaus lifted their price target on shares of ESAB from $130.00 to $131.00 and gave the company a “hold” rating in a 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, ESAB has a consensus rating of “Hold” and an average price target of $133.57.

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.