Connors Investor Services Inc. Boosts Stake in Linde plc (NYSE:LIN)

Connors Investor Services Inc. raised its holdings in Linde plc (NYSE:LINGet Rating) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,902 shares of the basic materials company’s stock after acquiring an additional 711 shares during the period. Linde makes up 1.6% of Connors Investor Services Inc.’s investment portfolio, making the stock its 18th largest position. Connors Investor Services Inc.’s holdings in Linde were worth $15,621,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Baader Bank INC lifted its position in Linde by 51.2% during the first quarter. Baader Bank INC now owns 47,683 shares of the basic materials company’s stock valued at $15,257,000 after purchasing an additional 16,139 shares during the last quarter. Walleye Capital LLC lifted its holdings in shares of Linde by 105.9% during the 1st quarter. Walleye Capital LLC now owns 3,605 shares of the basic materials company’s stock worth $1,152,000 after acquiring an additional 1,854 shares during the last quarter. Wealthfront Advisers LLC grew its position in Linde by 53.1% in the first quarter. Wealthfront Advisers LLC now owns 29,139 shares of the basic materials company’s stock worth $9,308,000 after acquiring an additional 10,107 shares in the last quarter. Weiss Multi Strategy Advisers LLC bought a new position in Linde in the first quarter valued at $955,000. Finally, Heirloom Wealth Management increased its stake in Linde by 71.9% in the first quarter. Heirloom Wealth Management now owns 13,365 shares of the basic materials company’s stock valued at $4,127,000 after acquiring an additional 5,592 shares during the last quarter. Institutional investors own 77.07% of the company’s stock.

Linde Trading Down 3.0 %

NYSE LIN opened at $285.58 on Wednesday. The stock has a market cap of $142.32 billion, a P/E ratio of 41.39, a price-to-earnings-growth ratio of 2.41 and a beta of 0.88. Linde plc has a fifty-two week low of $265.12 and a fifty-two week high of $352.18. The stock has a 50 day simple moving average of $290.47 and a two-hundred day simple moving average of $301.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 0.74.

Linde (NYSE:LINGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The basic materials company reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.12. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.39 billion. Linde had a return on equity of 13.41% and a net margin of 10.88%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.70 earnings per share. On average, analysts forecast that Linde plc will post 11.9 earnings per share for the current year.

Linde Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be given a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Thursday, September 1st. Linde’s dividend payout ratio is currently 67.83%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LIN. Bank of America dropped their price target on Linde from $370.00 to $369.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Stifel Nicolaus upgraded shares of Linde from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Linde from €370.00 ($377.55) to €355.00 ($362.24) and set a “buy” rating for the company in a report on Friday, July 29th. Credit Suisse Group started coverage on shares of Linde in a report on Tuesday, May 31st. They set an “outperform” rating and a $380.00 target price on the stock. Finally, Jefferies Financial Group lowered their price target on shares of Linde from $390.00 to $355.00 in a research note on Thursday, June 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Linde has a consensus rating of “Moderate Buy” and an average target price of $365.60.

Linde Profile

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Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia 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.

See Also

Institutional Ownership by Quarter for Linde (NYSE:LIN)

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