Veracity Capital LLC cut its holdings in shares of Linde plc (NYSE:LIN) by 5.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 6,644 shares of the basic materials company’s stock after selling 382 shares during the period. Linde accounts for 0.7% of Veracity Capital LLC’s investment portfolio, making the stock its 20th largest holding. Veracity Capital LLC’s holdings in Linde were worth $1,861,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Linde by 3.2% during the 4th quarter. BlackRock Inc. now owns 31,465,193 shares of the basic materials company’s stock worth $8,291,395,000 after buying an additional 973,130 shares in the last quarter. Norges Bank acquired a new stake in Linde during the 4th quarter worth approximately $2,719,979,000. Bank of New York Mellon Corp raised its holdings in shares of Linde by 9.4% in the 4th quarter. Bank of New York Mellon Corp now owns 10,126,594 shares of the basic materials company’s stock valued at $2,668,460,000 after purchasing an additional 866,271 shares in the last quarter. FMR LLC raised its holdings in shares of Linde by 3.0% in the 4th quarter. FMR LLC now owns 9,996,778 shares of the basic materials company’s stock valued at $2,635,060,000 after purchasing an additional 295,298 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Linde by 5.5% in the 4th quarter. Wells Fargo & Company MN now owns 4,916,821 shares of the basic materials company’s stock valued at $1,295,632,000 after purchasing an additional 255,915 shares in the last quarter. Institutional investors own 72.64% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Cowen started coverage on shares of Linde in a report on Wednesday, March 24th. They issued a “market perform” rating and a $300.00 price objective on the stock. UBS Group reaffirmed a “buy” rating on shares of Linde in a research report on Monday, February 8th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Linde in a research report on Monday, February 8th. Wells Fargo & Company increased their target price on shares of Linde from $300.00 to $311.00 and gave the company an “overweight” rating in a research report on Tuesday, April 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Linde in a research report on Friday, February 5th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Linde currently has a consensus rating of “Buy” and an average price target of $267.24.
In other Linde news, insider Kelcey E. Hoyt sold 2,559 shares of Linde stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $251.66, for a total transaction of $643,997.94. Following the completion of the transaction, the insider now owns 6,779 shares in the company, valued at $1,706,003.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.
Shares of LIN stock traded up $0.03 during mid-day trading on Monday, hitting $284.83. The stock had a trading volume of 25,782 shares, compared to its average volume of 1,907,259. Linde plc has a fifty-two week low of $172.76 and a fifty-two week high of $286.98. The firm has a market cap of $148.92 billion, a PE ratio of 67.91, a PEG ratio of 2.66 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.83 and a quick ratio of 0.71. The company’s 50-day simple moving average is $264.99 and its 200-day simple moving average is $252.80.
Linde (NYSE:LIN) last announced its quarterly earnings data on Thursday, February 4th. The basic materials company reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.16. Linde had a net margin of 8.29% and a return on equity of 8.56%. The firm had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $6.97 billion. On average, analysts expect that Linde plc will post 8.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 22nd. Shareholders of record on Friday, March 5th were given a dividend of $1.06 per share. The ex-dividend date was Thursday, March 4th. This represents a $4.24 dividend on an annualized basis and a yield of 1.49%. This is a boost from Linde’s previous quarterly dividend of $0.96. Linde’s payout ratio is presently 57.77%.
Linde Company Profile
Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers oxygen, nitrogen, argon, rare gases, carbon dioxide, hydrogen, helium, electronic and specialty gases, acetylene, and carbon monoxide. The company also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, hydrogen and synthesis gas, and other plants.
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