61,140 Shares in Lincoln Electric Holdings, Inc. $LECO Acquired by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 61,140 shares of Lincoln Electric valued at approximately $2.16 million, while institutional investors collectively own 79.61% of the company.
• Analyst sentiment is favorable, with Lincoln Electric receiving a “Moderate Buy” consensus rating and an average price target of $307.22; UBS initiated coverage with a $340 target.
• Lincoln Electric exceeded quarterly earnings and revenue expectations, reporting $2.93 EPS and $1.22 billion in revenue, while declaring a quarterly dividend of $0.79 per share.

Corient Private Wealth LP acquired a new stake in Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 61,140 shares of the industrial products company's stock, valued at approximately $2,162,000. Corient Private Wealth LP owned approximately 0.11% of Lincoln Electric at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LECO. Ausdal Financial Partners Inc. purchased a new position in shares of Lincoln Electric in the second quarter worth $292,000. Bank of America Corp DE purchased a new position in Lincoln Electric in the 2nd quarter worth about $34,382,000. Freestone Grove Partners LP bought a new position in Lincoln Electric during the 2nd quarter valued at about $2,767,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Lincoln Electric during the 2nd quarter valued at about $26,148,000. Finally, Man Group plc bought a new stake in shares of Lincoln Electric in the second quarter worth approximately $2,681,000. 79.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Morgan Stanley upgraded shares of Lincoln Electric from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $257.00 to $283.00 in a research note on Monday, August 10th. UBS Group initiated coverage on Lincoln Electric in a research report on Monday, August 10th. They set a "buy" rating and a $340.00 price objective for the company. Wall Street Zen upgraded Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings raised Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 10th. Finally, DA Davidson started coverage on Lincoln Electric in a research note on Tuesday, June 16th. They set a "buy" rating and a $320.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $307.22.

Lincoln Electric Stock Up 1.5%

LECO stock opened at $272.59 on Thursday. The business's 50-day moving average price is $267.57 and its 200-day moving average price is $265.47. The stock has a market cap of $14.86 billion, a P/E ratio of 27.23, a PEG ratio of 1.61 and a beta of 1.21. The company has a quick ratio of 1.20, a current ratio of 1.98 and a debt-to-equity ratio of 0.74. Lincoln Electric Holdings, Inc. has a twelve month low of $216.22 and a twelve month high of $310.00.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its earnings results on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.12. Lincoln Electric had a net margin of 12.35% and a return on equity of 39.23%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $2.60 EPS. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts forecast that Lincoln Electric Holdings, Inc. will post 11.13 EPS for the current year.

Lincoln Electric Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Lincoln Electric's dividend payout ratio is presently 31.57%.

Insider Activity

In other news, EVP Michael J. Whitehead sold 845 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total transaction of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares in the company, valued at $2,560,954.39. This trade represents a 8.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.68% of the stock is currently owned by company insiders.

About Lincoln Electric

Lincoln Electric Holdings, Inc NASDAQ: LECO is a global manufacturer and distributor of welding products, robotic welding systems, plasma and oxyfuel cutting equipment, and surface treatment systems. The company's portfolio encompasses welding consumables such as electrodes and wires, as well as power sources, torches, and automated welding cells. Lincoln Electric also offers software solutions and training services designed to optimize productivity and quality in fabrication and manufacturing operations.

Founded in 1895 by John C.

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