Brookstone Capital Management Acquires New Stake in Linde PLC (NYSE:LIN)

Brookstone Capital Management acquired a new stake in shares of Linde PLC (NYSE:LIN) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 973 shares of the basic materials company’s stock, valued at approximately $232,000.

Other hedge funds also recently bought and sold shares of the company. Balentine LLC bought a new position in Linde during the 1st quarter valued at approximately $25,000. Evoke Wealth LLC boosted its stake in Linde by 73.9% during the 2nd quarter. Evoke Wealth LLC now owns 153 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 65 shares during the last quarter. Glassman Wealth Services boosted its stake in Linde by 36.2% during the 2nd quarter. Glassman Wealth Services now owns 158 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 42 shares during the last quarter. Smith Asset Management Group LP boosted its stake in Linde by 186.4% during the 2nd quarter. Smith Asset Management Group LP now owns 169 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. Finally, CVA Family Office LLC purchased a new stake in Linde during the 2nd quarter valued at $42,000. 73.90% of the stock is owned by institutional investors.

Shares of Linde stock opened at $233.08 on Friday. Linde PLC has a one year low of $146.71 and a one year high of $260.49. The stock’s fifty day moving average is $242.78 and its 200 day moving average is $218.50. The stock has a market cap of $122.45 billion, a P/E ratio of 54.97, a P/E/G ratio of 2.80 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.69 and a current ratio of 0.80.

Linde (NYSE:LIN) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.25. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Linde had a return on equity of 8.27% and a net margin of 8.37%. Analysts predict that Linde PLC will post 7.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Thursday, September 3rd were issued a dividend of $0.963 per share. The ex-dividend date was Wednesday, September 2nd. This represents a $3.85 dividend on an annualized basis and a yield of 1.65%. Linde’s dividend payout ratio is presently 52.45%.

Several analysts have commented on the company. Morgan Stanley increased their target price on Linde from $205.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Truist Financial increased their target price on Linde from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. UBS Group reiterated a “buy” rating on shares of Linde in a research note on Thursday, August 6th. Evercore ISI started coverage on Linde in a research note on Monday, September 21st. They set an “outperform” rating on the stock. Finally, Zacks Investment Research upgraded Linde from a “hold” rating to a “buy” rating and set a $266.00 price target on the stock in a research note on Saturday, October 10th. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Linde presently has a consensus rating of “Buy” and an average target price of $238.72.

Linde 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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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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