True North Advisors LLC Buys Shares of 921 Linde PLC (NASDAQ:LIN)

True North Advisors LLC purchased a new position in shares of Linde PLC (NASDAQ:LIN) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 921 shares of the basic materials company’s stock, valued at approximately $429,000.

Several other institutional investors also recently modified their holdings of LIN. Prosperity Consulting Group LLC boosted its holdings in Linde by 4.5% during the fourth quarter. Prosperity Consulting Group LLC now owns 7,788 shares of the basic materials company’s stock worth $3,261,000 after buying an additional 332 shares during the last quarter. Jump Financial LLC raised its position in shares of Linde by 300.3% in the 4th quarter. Jump Financial LLC now owns 26,150 shares of the basic materials company’s stock valued at $10,948,000 after acquiring an additional 19,618 shares during the period. Taurus Asset Management LLC boosted its stake in Linde by 0.9% during the 4th quarter. Taurus Asset Management LLC now owns 55,009 shares of the basic materials company’s stock worth $23,031,000 after acquiring an additional 484 shares during the last quarter. AlTi Global Inc. acquired a new position in Linde during the fourth quarter valued at approximately $971,000. Finally, Truist Financial Corp increased its stake in Linde by 75.0% in the first quarter. Truist Financial Corp now owns 193,563 shares of the basic materials company’s stock valued at $90,131,000 after purchasing an additional 82,952 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Insider Transactions at Linde

In other Linde news, VP Sean Durbin sold 7,261 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $456.42, for a total value of $3,314,065.62. Following the completion of the sale, the vice president owned 8,151 shares in the company, valued at $3,720,279.42. This trade represents a 47.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen F. Angel sold 50,309 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $473.38, for a total transaction of $23,815,274.42. Following the transaction, the director owned 480,543 shares in the company, valued at $227,479,445.34. This represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,557 shares of company stock worth $28,037,479 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

LIN has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Linde from $485.00 to $504.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 9th. Citigroup upgraded Linde from a “neutral” rating to a “buy” rating and increased their price target for the stock from $500.00 to $535.00 in a report on Monday, June 30th. Royal Bank Of Canada assumed coverage on Linde in a report on Friday, June 13th. They set an “outperform” rating and a $576.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on Linde from $470.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Linde currently has a consensus rating of “Buy” and an average price target of $519.63.

Linde Stock Performance

Shares of LIN stock opened at $472.42 on Friday. The firm has a market cap of $221.52 billion, a PE ratio of 33.60, a P/E/G ratio of 3.12 and a beta of 0.92. Linde PLC has a 12 month low of $408.65 and a 12 month high of $487.49. The company’s fifty day simple moving average is $467.81 and its 200-day simple moving average is $458.87. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 0.49.

Linde (NASDAQ:LIN) last posted its quarterly earnings data on Friday, August 1st. The basic materials company reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.06. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.35 billion. Linde had a net margin of 20.20% and a return on equity of 19.09%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.85 EPS. Equities research analysts expect that Linde PLC will post 16.54 EPS for the current fiscal year.

Linde Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $1.50 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.3%. Linde’s dividend payout ratio is currently 42.67%.

Linde Company Profile

Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.