Vancity Investment Management Ltd Reduces Stock Holdings in Lincoln Electric Holdings, Inc. (NASDAQ:LECO)

Vancity Investment Management Ltd lowered its position in Lincoln Electric Holdings, Inc. (NASDAQ:LECOFree Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,304 shares of the industrial products company’s stock after selling 224 shares during the quarter. Vancity Investment Management Ltd’s holdings in Lincoln Electric were worth $718,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Contravisory Investment Management Inc. purchased a new position in Lincoln Electric during the fourth quarter worth about $27,000. VisionPoint Advisory Group LLC raised its holdings in Lincoln Electric by 81.1% in the third quarter. VisionPoint Advisory Group LLC now owns 172 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 77 shares in the last quarter. Principal Securities Inc. acquired a new stake in Lincoln Electric during the fourth quarter worth approximately $32,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Lincoln Electric by 43.1% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 50 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in Lincoln Electric by 46.9% during the fourth quarter. Lindbrook Capital LLC now owns 188 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.

Lincoln Electric Stock Performance

NASDAQ LECO traded down $4.58 during trading hours on Friday, hitting $182.24. The company had a trading volume of 1,003,682 shares, compared to its average volume of 326,187. Lincoln Electric Holdings, Inc. has a fifty-two week low of $164.00 and a fifty-two week high of $261.13. The firm has a market cap of $10.37 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 1.37 and a beta of 1.17. The business has a fifty day simple moving average of $220.29 and a 200-day simple moving average of $226.39. The company has a quick ratio of 1.49, a current ratio of 2.24 and a debt-to-equity ratio of 0.84.

Lincoln Electric (NASDAQ:LECOGet Free Report) last posted its earnings results on Thursday, April 25th. The industrial products company reported $2.23 EPS for the quarter, topping the consensus estimate of $2.15 by $0.08. Lincoln Electric had a return on equity of 43.81% and a net margin of 13.23%. The business had revenue of $981.20 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the company earned $2.13 EPS. Lincoln Electric’s revenue was down 5.6% on a year-over-year basis. Equities analysts predict that Lincoln Electric Holdings, Inc. will post 9.22 EPS for the current year.

Lincoln Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.84 annualized dividend and a dividend yield of 1.56%. Lincoln Electric’s dividend payout ratio (DPR) is currently 30.15%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Lincoln Electric from $252.00 to $236.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Oppenheimer restated a “market perform” rating on shares of Lincoln Electric in a research report on Monday, April 29th. Stifel Nicolaus cut their price target on Lincoln Electric from $241.00 to $238.00 and set a “hold” rating for the company in a research note on Friday, April 26th. KeyCorp cut their target price on shares of Lincoln Electric from $280.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Finally, Loop Capital dropped their price objective on shares of Lincoln Electric from $285.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Lincoln Electric presently has an average rating of “Hold” and a consensus price target of $225.29.

View Our Latest Analysis on Lincoln Electric

Lincoln Electric Profile

(Free Report)

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 brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.

See Also

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Institutional Ownership by Quarter for Lincoln Electric (NASDAQ:LECO)

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