Posted by admin on Aug 10th, 2022
State Board of Administration of Florida Retirement System trimmed its holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,004 shares of the industrial products company’s stock after selling 901 shares during the period. State Board of Administration of Florida Retirement System owned about 0.12% of Lincoln Electric worth $9,509,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in LECO. Victory Capital Management Inc. increased its holdings in shares of Lincoln Electric by 25.2% in the first quarter. Victory Capital Management Inc. now owns 1,817,978 shares of the industrial products company’s stock worth $250,251,000 after purchasing an additional 366,053 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Lincoln Electric by 18.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 356,657 shares of the industrial products company’s stock worth $49,743,000 after purchasing an additional 55,767 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Lincoln Electric by 1,001.2% in the fourth quarter. Qube Research & Technologies Ltd now owns 58,726 shares of the industrial products company’s stock worth $8,191,000 after purchasing an additional 53,393 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Lincoln Electric in the fourth quarter worth about $6,062,000. Finally, WFA of San Diego LLC bought a new stake in Lincoln Electric during the fourth quarter worth approximately $5,615,000. 74.17% of the stock is currently owned by hedge funds and other institutional investors.
LECO opened at $141.53 on Wednesday. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 1.16 and a beta of 1.16. The stock’s 50 day moving average price is $129.81 and its 200-day moving average price is $130.51. Lincoln Electric Holdings, Inc. has a one year low of $118.17 and a one year high of $148.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.91 and a current ratio of 1.62.
Lincoln Electric (NASDAQ:LECO – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The industrial products company reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.20. The firm had revenue of $969.59 million during the quarter, compared to analyst estimates of $936.62 million. Lincoln Electric had a return on equity of 50.64% and a net margin of 10.15%. Lincoln Electric’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.67 earnings per share. On average, equities analysts forecast that Lincoln Electric Holdings, Inc. will post 8.2 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.58%. Lincoln Electric’s payout ratio is 36.78%.
Several equities research analysts have weighed in on LECO shares. Seaport Res Ptn reissued a “neutral” rating on shares of Lincoln Electric in a research note on Monday, August 1st. Stifel Nicolaus reduced their price objective on Lincoln Electric from $134.00 to $122.00 in a research note on Monday, July 18th. Morgan Stanley boosted their price objective on Lincoln Electric from $126.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Monday, August 1st. StockNews.com raised Lincoln Electric from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 1st. Finally, Robert W. Baird boosted their price objective on Lincoln Electric from $143.00 to $150.00 in a research note on Thursday, July 28th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lincoln Electric has a consensus rating of “Moderate Buy” and an average target price of $147.60.
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 welding products, including arc welding power sources, plasma cutters, wire feeding systems, robotic welding packages, integrated automation systems, fume extraction equipment, consumable electrodes, fluxes and welding accessories, and specialty welding consumables and fabrication products.
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