Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Position Reduced by CI Investments Inc.

Posted by Defense World Staff on May 25th, 2023

CI Investments Inc. trimmed its stake in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO – Get Rating) by 14.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,019 shares of the industrial products company’s stock after selling 170 shares during the quarter. CI Investments Inc.’s holdings in Lincoln Electric were worth $147,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in Lincoln Electric by 3.0% during the 4th quarter. UBS Group AG now owns 130,910 shares of the industrial products company’s stock valued at $18,915,000 after acquiring an additional 3,816 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Lincoln Electric by 13.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,049 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 127 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Lincoln Electric by 9.7% during the 3rd quarter. Nuveen Asset Management LLC now owns 145,535 shares of the industrial products company’s stock valued at $18,297,000 after acquiring an additional 12,875 shares during the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in Lincoln Electric during the 3rd quarter valued at $6,086,000. Finally, Ethic Inc. lifted its position in shares of Lincoln Electric by 12.6% in the 3rd quarter. Ethic Inc. now owns 4,632 shares of the industrial products company’s stock worth $582,000 after buying an additional 520 shares during the last quarter. 73.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lincoln Electric

In other Lincoln Electric news, EVP Michele R. Kuhrt sold 3,505 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $168.10, for a total transaction of $589,190.50. Following the transaction, the executive vice president now owns 16,660 shares of the company’s stock, valued at approximately $2,800,546. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Lincoln Electric news, EVP Michele R. Kuhrt sold 3,505 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $168.10, for a total transaction of $589,190.50. Following the transaction, the executive vice president now owns 16,660 shares of the company’s stock, valued at approximately $2,800,546. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Steven B. Hedlund sold 8,235 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $166.52, for a total transaction of $1,371,292.20. Following the transaction, the chief operating officer now directly owns 41,123 shares in the company, valued at approximately $6,847,801.96. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

Lincoln Electric Stock Down 0.7 %

LECO stock opened at $168.55 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.93 and a debt-to-equity ratio of 0.99. Lincoln Electric Holdings, Inc. has a fifty-two week low of $118.17 and a fifty-two week high of $176.52. The firm’s 50-day simple moving average is $164.50 and its 200 day simple moving average is $159.34. The stock has a market cap of $9.70 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.14.

Lincoln Electric (NASDAQ:LECO – Get Rating) last released its earnings results on Thursday, April 27th. The industrial products company reported $2.13 EPS for the quarter, beating the consensus estimate of $2.04 by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Lincoln Electric had a net margin of 12.08% and a return on equity of 48.56%. Lincoln Electric’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the company earned $2.10 EPS. As a group, sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 8.95 EPS for the current year.

Lincoln Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.56 annualized dividend and a yield of 1.52%. Lincoln Electric’s payout ratio is 31.96%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LECO. 888 restated a “maintains” rating on shares of Lincoln Electric in a research report on Friday, April 28th. Morgan Stanley raised their price target on shares of Lincoln Electric from $149.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 22nd. Stifel Nicolaus raised their price target on shares of Lincoln Electric from $173.00 to $176.00 in a research report on Monday, April 17th. Robert W. Baird raised their price target on shares of Lincoln Electric from $180.00 to $184.00 in a research report on Thursday, April 27th. Finally, StockNews.com assumed coverage on shares of Lincoln Electric in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $178.50.

Lincoln Electric Company Profile

(Get Rating)

Lincoln Electric Holdings, Inc engages in the manufacture of arc welding equipment, consumable welding products and other welding and cutting products. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes and fluxes.