Kestra Private Wealth Services LLC Invests $728,000 in Lincoln Electric Holdings, Inc. $LECO

Kestra Private Wealth Services LLC bought a new stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,922 shares of the industrial products company’s stock, valued at approximately $728,000.

Other hedge funds have also recently made changes to their positions in the company. Elyxium Wealth LLC purchased a new position in Lincoln Electric in the 4th quarter worth about $27,000. Summit Securities Group LLC purchased a new stake in Lincoln Electric in the 4th quarter valued at about $46,000. V Square Quantitative Management LLC purchased a new stake in Lincoln Electric in the 4th quarter valued at about $64,000. United Community Bank bought a new position in Lincoln Electric in the 4th quarter worth about $65,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Lincoln Electric by 980.8% during the first quarter. Geneos Wealth Management Inc. now owns 281 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 255 shares during the period. 79.61% of the stock is currently owned by institutional investors.

Insider Transactions at Lincoln Electric

In other news, EVP Michael J. Whitehead sold 845 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $274.81, for a total transaction of $232,214.45. Following the transaction, the executive vice president directly owned 9,319 shares of the company’s stock, valued at approximately $2,560,954.39. This represents a 8.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.68% of the company’s stock.

Lincoln Electric Price Performance

LECO opened at $258.43 on Friday. The business’s 50-day moving average is $263.98 and its two-hundred day moving average is $262.54. Lincoln Electric Holdings, Inc. has a 1 year low of $213.71 and a 1 year high of $310.00. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.83 and a quick ratio of 1.15. The firm has a market capitalization of $14.16 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20.

Lincoln Electric (NASDAQ:LECO) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.42 by $0.08. Lincoln Electric had a net margin of 12.38% and a return on equity of 39.33%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Research analysts anticipate that Lincoln Electric Holdings, Inc. will post 10.82 earnings per share for the current fiscal year.

Lincoln Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Lincoln Electric’s dividend payout ratio (DPR) is 32.61%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $280.00 price target (down from $350.00) on shares of Lincoln Electric in a research note on Tuesday, March 31st. Barclays increased their price objective on Lincoln Electric from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. DA Davidson started coverage on Lincoln Electric in a research report on Tuesday, June 16th. They set a “buy” rating and a $320.00 target price for the company. Weiss Ratings raised Lincoln Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, April 16th. Finally, Wall Street Zen cut Lincoln Electric from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $299.00.

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.