Envestnet Asset Management Inc. lifted its holdings in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Free Report) by 161.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 158,902 shares of the industrial products company’s stock after acquiring an additional 98,012 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Lincoln Electric were worth $28,887,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Lincoln Electric by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,954,544 shares of the industrial products company’s stock worth $748,605,000 after acquiring an additional 63,007 shares during the period. BlackRock Inc. lifted its holdings in Lincoln Electric by 0.3% during the 1st quarter. BlackRock Inc. now owns 5,289,641 shares of the industrial products company’s stock worth $894,478,000 after purchasing an additional 15,200 shares during the last quarter. State Street Corp lifted its holdings in Lincoln Electric by 2.1% during the 3rd quarter. State Street Corp now owns 2,958,667 shares of the industrial products company’s stock worth $373,594,000 after purchasing an additional 59,991 shares during the last quarter. Capital International Investors lifted its holdings in Lincoln Electric by 43.5% during the 2nd quarter. Capital International Investors now owns 1,675,189 shares of the industrial products company’s stock worth $332,743,000 after purchasing an additional 508,198 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Lincoln Electric by 4.9% during the 2nd quarter. Geode Capital Management LLC now owns 976,157 shares of the industrial products company’s stock worth $193,894,000 after purchasing an additional 45,575 shares during the last quarter. 75.82% of the stock is currently owned by institutional investors.
Lincoln Electric Price Performance
Shares of NASDAQ LECO opened at $250.03 on Friday. The stock has a fifty day simple moving average of $223.53 and a two-hundred day simple moving average of $199.94. Lincoln Electric Holdings, Inc. has a 1-year low of $152.36 and a 1-year high of $252.98. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 1.73 and a beta of 1.17. The company has a current ratio of 5.16, a quick ratio of 3.45 and a debt-to-equity ratio of 0.84.
Lincoln Electric (NASDAQ:LECO – Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.26. Lincoln Electric had a return on equity of 45.09% and a net margin of 13.01%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $1.94 earnings per share. The firm’s revenue was up 13.7% compared to the same quarter last year. Analysts anticipate that Lincoln Electric Holdings, Inc. will post 9.56 earnings per share for the current year.
Lincoln Electric Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Sunday, March 31st will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.84 dividend on an annualized basis and a yield of 1.14%. Lincoln Electric’s payout ratio is 30.31%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on LECO shares. Seaport Res Ptn raised Lincoln Electric from a “neutral” rating to a “buy” rating in a report on Tuesday, October 31st. KeyCorp lifted their price objective on Lincoln Electric from $232.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Morgan Stanley began coverage on Lincoln Electric in a report on Monday, January 8th. They issued an “underweight” rating and a $178.00 price objective for the company. Jefferies Financial Group lifted their price objective on Lincoln Electric from $215.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Stifel Nicolaus lifted their price objective on Lincoln Electric from $208.00 to $239.00 and gave the company a “hold” rating in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $208.56.
Check Out Our Latest Report on Lincoln Electric
Insider Buying and Selling at Lincoln Electric
In other Lincoln Electric news, COO Steven B. Hedlund sold 12,880 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $203.59, for a total transaction of $2,622,239.20. Following the sale, the chief operating officer now owns 40,122 shares in the company, valued at $8,168,437.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Steven B. Hedlund sold 12,880 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $203.59, for a total transaction of $2,622,239.20. Following the transaction, the chief operating officer now directly owns 40,122 shares of the company’s stock, valued at $8,168,437.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher L. Mapes sold 68,610 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $207.09, for a total value of $14,208,444.90. Following the transaction, the chief executive officer now directly owns 114,620 shares in the company, valued at $23,736,655.80. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, as well as consumables used in the brazing and soldering alloys market.
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