Elevation Point Wealth Partners LLC Purchases Shares of 3,673 Lincoln Electric Holdings, Inc. $LECO

Key Points

• Elevation Point Wealth Partners initiated a 3,673-share position in Lincoln Electric valued at approximately $976,000. Institutional and hedge-fund investors collectively own 79.61% of the company.
• Lincoln Electric exceeded quarterly expectations, reporting $2.93 in EPS and $1.22 billion in revenue, with revenue up 12% year over year. Analysts maintain a “Moderate Buy” consensus rating and an average price target of $307.22.
• The company declared a quarterly dividend of $0.79 per share, equivalent to $3.16 annually and a 1.1% yield. An executive separately sold 845 shares at an average price of $274.81.

Elevation Point Wealth Partners LLC bought a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,673 shares of the industrial products company's stock, valued at approximately $976,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LECO. Keating Financial Advisory Services Inc. purchased a new position in Lincoln Electric during the 2nd quarter worth $29,000. Elyxium Wealth LLC purchased a new stake in shares of Lincoln Electric in the fourth quarter valued at about $27,000. Summit Securities Group LLC bought a new position in shares of Lincoln Electric during the fourth quarter valued at about $46,000. State of Wyoming purchased a new position in Lincoln Electric during the second quarter worth about $69,000. Finally, United Community Bank purchased a new position in Lincoln Electric during the fourth quarter worth about $65,000. 79.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lincoln Electric news, EVP Michael J. Whitehead sold 845 shares of Lincoln Electric stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the completion of the transaction, the executive vice president owned 9,319 shares of the company's stock, valued at $2,560,954.39. The trade was a 8.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.68% of the stock is owned by insiders.

Lincoln Electric Price Performance

Shares of NASDAQ LECO opened at $282.24 on Tuesday. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The stock has a fifty day simple moving average of $266.35 and a two-hundred day simple moving average of $266.03. Lincoln Electric Holdings, Inc. has a 1-year low of $216.22 and a 1-year high of $310.00. The firm has a market cap of $15.38 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 1.69 and a beta of 1.20.

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

Lincoln Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.79 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $3.16 annualized dividend and a yield of 1.1%. Lincoln Electric's dividend payout ratio (DPR) is currently 31.57%.

Wall Street Analysts Forecast Growth

LECO has been the topic of several research analyst reports. Stifel Nicolaus set a $275.00 price objective on Lincoln Electric in a research report on Friday, May 1st. UBS Group initiated coverage on Lincoln Electric in a research note on Monday, August 10th. They set a "buy" rating and a $340.00 target price on the stock. Barclays boosted their price target on shares of Lincoln Electric from $280.00 to $300.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of Lincoln Electric from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, DA Davidson assumed coverage on shares of Lincoln Electric in a report on Tuesday, June 16th. They set a "buy" rating and a $320.00 price objective 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $307.22.

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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