Veritable L.P. Has $260,000 Position in Lincoln Electric Holdings, Inc. (LECO)
Veritable L.P. trimmed its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,824 shares of the industrial products company’s stock after selling 86 shares during the quarter. Veritable L.P.’s holdings in Lincoln Electric Holdings were worth $260,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. BlueMountain Capital Management LLC purchased a new stake in Lincoln Electric Holdings in the 2nd quarter worth approximately $179,000. Global X Management Co. LLC increased its holdings in Lincoln Electric Holdings by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 2,096 shares of the industrial products company’s stock worth $193,000 after acquiring an additional 1,441 shares in the last quarter. Puzo Michael J purchased a new stake in Lincoln Electric Holdings in the 2nd quarter worth approximately $203,000. CIBC Asset Management Inc purchased a new stake in Lincoln Electric Holdings in the 2nd quarter worth approximately $204,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Lincoln Electric Holdings by 11.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,435 shares of the industrial products company’s stock worth $224,000 after acquiring an additional 244 shares in the last quarter. 63.93% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $95.00 target price on shares of Lincoln Electric Holdings in a report on Wednesday. ValuEngine lowered shares of Lincoln Electric Holdings from a “buy” rating to a “hold” rating in a report on Monday. Zacks Investment Research raised shares of Lincoln Electric Holdings from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a report on Tuesday, September 26th. KeyCorp reissued a “hold” rating on shares of Lincoln Electric Holdings in a report on Friday, August 25th. Finally, Robert W. Baird set a $91.00 target price on shares of Lincoln Electric Holdings and gave the stock a “hold” rating in a report on Thursday, August 24th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Lincoln Electric Holdings presently has an average rating of “Hold” and a consensus price target of $88.86.
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) opened at 94.14 on Friday. The company has a market capitalization of $6.20 billion, a P/E ratio of 27.21 and a beta of 1.01. Lincoln Electric Holdings, Inc. has a 1-year low of $61.04 and a 1-year high of $97.97. The firm has a 50-day moving average price of $89.20 and a 200 day moving average price of $89.48.
Lincoln Electric Holdings (NASDAQ:LECO) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.03. The business had revenue of $626.90 million during the quarter, compared to analysts’ expectations of $620.28 million. Lincoln Electric Holdings had a return on equity of 30.55% and a net margin of 9.86%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 earnings per share. On average, equities analysts predict that Lincoln Electric Holdings, Inc. will post $3.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Thursday, September 28th. Lincoln Electric Holdings’s dividend payout ratio (DPR) is presently 40.46%.
In other news, VP Michele R. Kuhrt sold 3,080 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $88.55, for a total value of $272,734.00. Following the completion of the sale, the vice president now directly owns 14,449 shares in the company, valued at $1,279,458.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.27% of the stock is owned by insiders.
About Lincoln Electric Holdings
Lincoln Electric Holdings, Inc is a manufacturer of welding, cutting and brazing products. The Company operates through three segments: Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment primarily includes welding operations in Europe, Africa, Asia and Australia.
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