JPMorgan Chase & Co. Cuts ESAB (NYSE:ESAB) Price Target to $130.00

ESAB (NYSE:ESAB) had its target price cut by JPMorgan Chase & Co. from $138.00 to $130.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

ESAB has been the subject of a number of other reports. Roth Mkm restated a “buy” rating and set a $146.00 price objective (down from $150.00) on shares of ESAB in a research note on Tuesday. UBS Group increased their price objective on ESAB from $147.00 to $149.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of ESAB in a research note on Monday, December 29th. Oppenheimer boosted their price objective on shares of ESAB from $142.00 to $148.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Finally, Stifel Nicolaus increased their price target on ESAB from $143.00 to $144.00 and gave the company a “buy” rating in a report on Friday, January 23rd. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, ESAB presently has an average rating of “Moderate Buy” and an average target price of $140.63.

ESAB Trading Up 0.5%

Shares of NYSE ESAB opened at $128.30 on Tuesday. ESAB has a 1 year low of $100.17 and a 1 year high of $135.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.99 and a quick ratio of 1.24. The firm has a 50-day moving average of $116.19 and a 200 day moving average of $116.20. The stock has a market cap of $7.79 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 2.34 and a beta of 1.24.

ESAB Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Wednesday, December 31st were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Wednesday, December 31st. ESAB’s dividend payout ratio is currently 10.08%.

Institutional Trading of ESAB

Institutional investors and hedge funds have recently modified their holdings of the company. Bessemer Group Inc. boosted its holdings in ESAB by 6,787.0% in the 4th quarter. Bessemer Group Inc. now owns 1,053,776 shares of the company’s stock worth $117,730,000 after buying an additional 1,038,475 shares during the period. Norges Bank purchased a new stake in ESAB during the 2nd quarter valued at approximately $83,814,000. Durable Capital Partners LP lifted its holdings in shares of ESAB by 40.5% in the third quarter. Durable Capital Partners LP now owns 1,945,854 shares of the company’s stock worth $217,430,000 after buying an additional 560,678 shares in the last quarter. Interval Partners LP boosted its position in shares of ESAB by 726.9% during the third quarter. Interval Partners LP now owns 632,412 shares of the company’s stock worth $70,666,000 after acquiring an additional 555,932 shares during the last quarter. Finally, Millennium Management LLC grew its stake in ESAB by 2,367.3% during the third quarter. Millennium Management LLC now owns 432,279 shares of the company’s stock valued at $48,303,000 after acquiring an additional 414,759 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors.

ESAB Company Profile

ESAB Corporation is a global leader in welding, cutting and gas control technologies, offering a comprehensive portfolio of equipment, consumables and automation solutions. The company’s products include welding power sources, cutting machines, torches, electrodes, filler metals and gas regulating equipment designed to meet the needs of diverse industries. ESAB serves sectors such as construction, shipbuilding, automotive, energy, infrastructure and manufacturing, providing both standard and customized solutions to enhance productivity and quality in metal fabrication and processing.

Founded in 1904 by Swedish inventor Oscar Kjellberg, ESAB pioneered the development of coated welding electrodes, laying the groundwork for modern welding practices.