Envestnet Portfolio Solutions Inc. Has $290,000 Stake in Lincoln Electric Holdings, Inc. $LECO

Envestnet Portfolio Solutions Inc. reduced its position in shares of Lincoln Electric Holdings, Inc. (NASDAQ:LECO) by 11.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,400 shares of the industrial products company’s stock after selling 174 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Lincoln Electric were worth $290,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in 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 in the last quarter. Brooklyn Investment Group raised its position in Lincoln Electric by 279.6% during the first quarter. Brooklyn Investment Group now owns 353 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 260 shares in the last quarter. Signaturefd LLC raised its position in Lincoln Electric by 77.1% during the first quarter. Signaturefd LLC now owns 425 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 185 shares in the last quarter. YANKCOM Partnership raised its position in Lincoln Electric by 12.2% during the first quarter. YANKCOM Partnership now owns 553 shares of the industrial products company’s stock worth $105,000 after acquiring an additional 60 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC bought a new stake in Lincoln Electric during the second quarter worth $209,000. 79.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LECO. Wall Street Zen raised shares of Lincoln Electric from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 11th. Roth Capital assumed coverage on shares of Lincoln Electric in a research report on Friday, September 5th. They issued a “buy” rating and a $279.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Lincoln Electric from $236.00 to $250.00 and gave the company a “hold” rating in a research report on Friday, August 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Lincoln Electric in a research report on Wednesday, October 8th. Finally, KeyCorp increased their price objective on shares of Lincoln Electric from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.50.

Insider Activity

In other Lincoln Electric news, EVP Gabriel Bruno sold 7,305 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $242.42, for a total transaction of $1,770,878.10. Following the sale, the executive vice president directly owned 29,927 shares in the company, valued at $7,254,903.34. This represents a 19.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Steven B. Hedlund sold 12,387 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $243.36, for a total transaction of $3,014,500.32. Following the completion of the sale, the chief executive officer owned 55,866 shares in the company, valued at approximately $13,595,549.76. The trade was a 18.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,692 shares of company stock valued at $5,745,148. Corporate insiders own 2.63% of the company’s stock.

Lincoln Electric Price Performance

NASDAQ:LECO opened at $242.21 on Friday. Lincoln Electric Holdings, Inc. has a 52 week low of $161.11 and a 52 week high of $249.19. The firm has a market cap of $13.37 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 1.64 and a beta of 1.20. The firm’s 50-day simple moving average is $238.87 and its 200 day simple moving average is $216.15. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.68.

Lincoln Electric (NASDAQ:LECO) last announced its quarterly earnings data on Thursday, July 31st. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.28. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.04 billion. Lincoln Electric had a net margin of 12.27% and a return on equity of 39.79%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.34 earnings per share. As a group, sell-side analysts predict that Lincoln Electric Holdings, Inc. will post 9.36 earnings per share for the current year.

Lincoln Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.79 per share. The ex-dividend date is Wednesday, December 31st. This is a positive change from Lincoln Electric’s previous quarterly dividend of $0.75. This represents a $3.16 dividend on an annualized basis and a yield of 1.3%. Lincoln Electric’s dividend payout ratio is currently 33.71%.

Lincoln Electric Profile

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.