GRIMES & Co WEALTH MANAGEMENT LLC purchased a new stake in Linde PLC (NASDAQ:LIN – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,257 shares of the basic materials company’s stock, valued at approximately $597,000.
A number of other hedge funds have also bought and sold shares of LIN. Legacy Wealth Managment LLC ID raised its stake in Linde by 96.6% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 57 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 28 shares in the last quarter. Principia Wealth Advisory LLC grew its position in shares of Linde by 74.2% during the 2nd quarter. Principia Wealth Advisory LLC now owns 54 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 23 shares in the last quarter. Marquette Asset Management LLC acquired a new position in shares of Linde during the 3rd quarter worth approximately $29,000. Manning & Napier Advisors LLC increased its holdings in shares of Linde by 1,450.0% during the first quarter. Manning & Napier Advisors LLC now owns 62 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 58 shares during the period. Finally, Polaris Financial Partners bought a new position in shares of Linde during the third quarter worth approximately $31,000. 82.80% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Linde news, VP Guillermo Bichara sold 9,350 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $518.91, for a total transaction of $4,851,808.50. Following the sale, the vice president directly owned 22,138 shares of the company’s stock, valued at $11,487,629.58. The trade was a 29.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.30% of the stock is owned by insiders.
Linde Price Performance
Shares of LIN opened at $524.74 on Thursday. Linde PLC has a 12-month low of $387.78 and a 12-month high of $548.20. The business has a 50-day simple moving average of $485.35 and a two-hundred day simple moving average of $493.52. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 0.50. The stock has a market cap of $240.90 billion, a PE ratio of 34.87, a PEG ratio of 2.98 and a beta of 0.67.
Linde (NASDAQ:LIN – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported $4.59 earnings per share for the quarter, topping the consensus estimate of $4.52 by $0.07. Linde had a return on equity of 20.32% and a net margin of 19.34%. The company had revenue of $9.40 billion for the quarter, compared to analysts’ expectations of $9.16 billion. During the same period in the previous year, the business posted $4.21 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that Linde PLC will post 17.89 earnings per share for the current fiscal year.
Linde Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a dividend of $1.60 per share. The ex-dividend date is Thursday, December 3rd. This represents a $6.40 annualized dividend and a yield of 1.2%. Linde’s dividend payout ratio (DPR) is currently 42.52%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on LIN shares. BMO Capital Markets reiterated an “outperform” rating on shares of Linde in a research report on Thursday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price target on Linde from $580.00 to $575.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Weiss Ratings lowered Linde from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Royal Bank Of Canada increased their target price on Linde from $549.00 to $568.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Finally, Mizuho set a $583.00 price target on Linde in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $553.05.
Check Out Our Latest Report on Linde
Linde Company Profile
Linde plc (NASDAQ:LIN) is a global industrial gases and engineering company. It produces and distributes atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide and specialty gases. The company serves customers through packaged gases, bulk deliveries, on-site production and pipeline systems.
Linde’s products and services support a broad range of industries, including healthcare, food and beverage, manufacturing, chemicals, energy, refining, electronics and metals.
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