Linde plc (NYSE:LIN) Stake Lowered by Advisory Services Network LLC

Advisory Services Network LLC trimmed its position in shares of Linde plc (NYSE:LINGet Rating) by 23.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,448 shares of the basic materials company’s stock after selling 3,888 shares during the period. Advisory Services Network LLC’s holdings in Linde were worth $3,977,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Linde during the 4th quarter valued at about $2,589,853,000. Capital International Investors grew its position in Linde by 51.0% in the fourth quarter. Capital International Investors now owns 7,835,794 shares of the basic materials company’s stock worth $2,714,440,000 after acquiring an additional 2,646,192 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Linde during the 1st quarter worth $504,023,000. Capital World Investors increased its stake in shares of Linde by 22.7% during the 4th quarter. Capital World Investors now owns 7,657,766 shares of the basic materials company’s stock worth $2,654,399,000 after purchasing an additional 1,416,567 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Linde by 5.6% during the 1st quarter. BlackRock Inc. now owns 25,679,214 shares of the basic materials company’s stock valued at $8,202,713,000 after purchasing an additional 1,368,221 shares in the last quarter. Institutional investors and hedge funds own 77.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

Linde Stock Down 1.3 %

LIN stock opened at $282.90 on Friday. Linde plc has a twelve month low of $265.12 and a twelve month high of $352.18. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 0.27. The company has a market cap of $140.99 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88. The business’s 50-day simple moving average is $290.72 and its 200 day simple moving average is $301.88.

Linde (NYSE:LINGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The basic materials company reported $3.10 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.12. The company had revenue of $8.50 billion for 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%. Linde’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.70 EPS. On average, research analysts anticipate that Linde plc will post 11.9 earnings per share for the current year.

Linde Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be given a dividend of $1.17 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.68 annualized dividend and a dividend yield of 1.65%. Linde’s dividend payout ratio (DPR) is currently 67.83%.

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.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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