Corient Private Wealth LP Takes Position in Lincoln Electric Holdings, Inc. $LECO

Key Points

• Corient Private Wealth initiated a position in Lincoln Electric worth approximately $4.16 million, while institutional investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS and $1.22 billion in revenue; revenue rose 12% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $307.22. The company also declared a quarterly dividend of $0.79 per share, yielding about 1.1% annually.

Corient Private Wealth LP acquired a new position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,651 shares of the industrial products company's stock, valued at approximately $4,156,000.

Several other institutional investors have also modified their holdings of the stock. Elyxium Wealth LLC purchased a new stake in shares of Lincoln Electric during the fourth quarter worth about $27,000. Keating Financial Advisory Services Inc. acquired a new stake in Lincoln Electric in the 2nd quarter worth about $29,000. Fiduciary Financial Advisors purchased a new stake in Lincoln Electric during the 2nd quarter worth approximately $38,000. Ancora Advisors LLC acquired a new position in shares of Lincoln Electric during the second quarter valued at approximately $38,000. Finally, Summit Securities Group LLC purchased a new position in shares of Lincoln Electric in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 79.61% of the company's stock.

Lincoln Electric Stock Performance

Lincoln Electric stock opened at $281.23 on Tuesday. The firm has a 50 day simple moving average of $267.50 and a 200-day simple moving average of $265.79. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.71 and a beta of 1.20. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.98 and a quick ratio of 1.20. Lincoln Electric Holdings, Inc. has a 1-year low of $216.22 and a 1-year high of $310.00.

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

Lincoln Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.79 per share. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.1%. Lincoln Electric's dividend payout ratio is currently 31.57%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LECO. Barclays increased their price objective on Lincoln Electric from $280.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. DA Davidson assumed coverage on shares of Lincoln Electric in a research note on Tuesday, June 16th. They issued a "buy" rating and a $320.00 price target on the stock. UBS Group assumed coverage on shares of Lincoln Electric in a research note on Monday, August 10th. They set a "buy" rating and a $340.00 price objective for the company. Weiss Ratings raised shares of Lincoln Electric from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 10th. Finally, Morgan Stanley upgraded Lincoln Electric from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $257.00 to $283.00 in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $307.22.

Insider Activity

In related news, EVP Michael J. Whitehead sold 845 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $274.81, for a total value of $232,214.45. Following the sale, the executive vice president directly owned 9,319 shares in the company, valued at approximately $2,560,954.39. The trade was a 8.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.68% of the company's stock.

Lincoln Electric Company Profile

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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