MainStreet Investment Advisors LLC purchased a new position in shares of Linde PLC (NYSE:LIN) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,364 shares of the basic materials company’s stock, valued at approximately $755,000.
Other hedge funds have also modified their holdings of the company. Solstein Capital LLC purchased a new position in Linde during the fourth quarter worth approximately $27,000. Key Financial Inc purchased a new position in Linde during the first quarter worth approximately $29,000. Procyon Private Wealth Partners LLC purchased a new position in Linde during the fourth quarter worth approximately $30,000. Squar Milner Financial Services LLC boosted its position in Linde by 131.3% during the fourth quarter. Squar Milner Financial Services LLC now owns 148 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in Linde during the first quarter worth approximately $35,000. Institutional investors own 75.20% of the company’s stock.
A number of brokerages have issued reports on LIN. BMO Capital Markets increased their price target on Linde from $217.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Citigroup raised their target price on Linde from $209.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. SunTrust Banks decreased their target price on Linde from $250.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Wells Fargo & Co reduced their price objective on Linde from $248.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. Finally, Barclays cut their target price on Linde from $230.00 to $215.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 29th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Linde has an average rating of “Buy” and an average target price of $212.82.
In related news, CEO Stephen F. Angel purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average price of $173.13 per share, for a total transaction of $519,390.00. Also, VP Christian Bruch sold 336 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $162.99, for a total value of $54,764.64. Following the completion of the transaction, the vice president now owns 10,629 shares in the company, valued at approximately $1,732,420.71. The disclosure for this sale can be found here. Insiders purchased a total of 6,400 shares of company stock worth $1,046,538 in the last 90 days. 0.70% of the stock is currently owned by insiders.
Shares of Linde stock traded down $2.80 on Friday, hitting $190.87. The stock had a trading volume of 1,675,961 shares, compared to its average volume of 1,824,670. Linde PLC has a 52-week low of $146.71 and a 52-week high of $227.85. The company has a current ratio of 0.74, a quick ratio of 0.63 and a debt-to-equity ratio of 0.21. The stock has a market cap of $101.71 billion, a price-to-earnings ratio of 44.73, a P/E/G ratio of 2.39 and a beta of 0.69. The company’s 50 day moving average price is $182.72 and its 200 day moving average price is $197.03.
Linde (NYSE:LIN) last issued its quarterly earnings results on Thursday, May 7th. The basic materials company reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.06. The firm had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.74 billion. Linde had a return on equity of 8.06% and a net margin of 8.35%. Analysts predict that Linde PLC will post 7.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be given a $0.963 dividend. This represents a $3.85 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, June 2nd. Linde’s dividend payout ratio (DPR) is presently 52.45%.
Linde Company Profile
Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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