Linde PLC $LIN Stock: Consolidated Investment Group LLC Increases Position

Consolidated Investment Group LLC lifted its stake in Linde PLC (NASDAQ:LIN – Free Report) by 11.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,755 shares of the basic materials company’s stock after purchasing an additional 1,200 shares during the period. Consolidated Investment Group LLC’s holdings in Linde were worth $5,580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Principia Wealth Advisory LLC grew its position in Linde by 74.2% during the second quarter. Principia Wealth Advisory LLC now owns 54 shares of the basic materials company’s stock worth $28,000 after buying an additional 23 shares during the period. JCIC Asset Management Inc. purchased a new position in Linde in the third quarter valued at about $26,000. Legacy Wealth Managment LLC ID increased its holdings in Linde by 96.6% in the first quarter. Legacy Wealth Managment LLC ID now owns 57 shares of the basic materials company’s stock valued at $28,000 after buying an additional 28 shares in the last quarter. Manning & Napier Advisors LLC increased its holdings in Linde by 1,450.0% in the first quarter. Manning & Napier Advisors LLC now owns 62 shares of the basic materials company’s stock valued at $31,000 after buying an additional 58 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in shares of Linde during the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 82.80% of the company’s stock.

Linde Trading Up 1.0%

Linde stock opened at $520.33 on Tuesday. The stock has a market cap of $238.87 billion, a PE ratio of 29.78, a P/E/G ratio of 3.06 and a beta of 0.67. The stock has a 50-day moving average price of $487.18 and a 200 day moving average price of $494.74. Linde PLC has a 52 week low of $387.78 and a 52 week high of $548.20. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 0.50.

Linde (NASDAQ:LIN – Get Free Report) last announced its earnings results on Thursday, October 29th. The basic materials company reported $4.59 earnings per share for the quarter, beating the consensus estimate of $4.52 by $0.07. The firm had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $9.16 billion. Linde had a net margin of 19.34% and a return on equity of 20.32%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.21 EPS. Equities research analysts predict that Linde PLC will post 17.89 earnings per share for the current fiscal year.

Linde Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be issued a dividend of $1.60 per share. The ex-dividend date is Thursday, December 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. Linde’s payout ratio is 42.52%.

Analysts Set New Price Targets

Several brokerages have recently commented on LIN. The Goldman Sachs Group set a $580.00 price target on Linde and gave the stock a “buy” rating in a research note on Monday, August 10th. Citigroup upped their price target on Linde from $560.00 to $580.00 and gave the stock a “buy” rating in a report on Friday, October 30th. UBS Group raised their price objective on Linde from $574.00 to $585.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Royal Bank Of Canada raised their price objective on Linde from $549.00 to $568.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Finally, DZ Bank reaffirmed a “neutral” rating on shares of Linde in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Linde currently has an average rating of “Moderate Buy” and an average price target of $553.05.

Read Our Latest Research Report on Linde

Insider Transactions at Linde

In related news, VP Guillermo Bichara sold 9,350 shares of the company’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 transaction, the vice president owned 22,138 shares of the company’s stock, valued at approximately $11,487,629.58. This represents a 29.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Matthew J. White sold 86,833 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $521.21, for a total transaction of $45,258,227.93. Following the transaction, the chief financial officer directly owned 50,733 shares in the company, valued at $26,442,546.93. The trade was a 63.12% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.30% of the company’s stock.

About Linde

(Free Report)

Linde plc is a global industrial gases and engineering company. It produces and supplies atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium and specialty gases. The company also designs and builds equipment and facilities used to produce and process gases.

Linde serves customers across industries including healthcare, manufacturing, chemicals, food and beverage, electronics and energy. Its operations span the Americas, Europe, the Middle East and Africa, and Asia-Pacific.

The company was formed in 2018 through the merger of Germany’s Linde AG and U.S.-based Praxair, bringing together businesses with long histories in industrial gases and engineering.

See Also

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Institutional Ownership by Quarter for Linde (NASDAQ:LIN)

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