Neuberger Berman Group LLC Increases Position in Linde plc (NYSE:LIN)

Neuberger Berman Group LLC boosted its holdings in shares of Linde plc (NYSE:LINGet Rating) by 31.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 569,372 shares of the basic materials company’s stock after acquiring an additional 137,442 shares during the period. Neuberger Berman Group LLC owned 0.11% of Linde worth $181,911,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LIN. Norges Bank purchased a new stake in Linde during the 4th quarter valued at about $2,589,853,000. Capital International Investors grew its stake in shares of Linde by 51.0% in the 4th quarter. Capital International Investors now owns 7,835,794 shares of the basic materials company’s stock valued at $2,714,440,000 after buying an additional 2,646,192 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Linde in the 1st quarter valued at approximately $504,023,000. Capital World Investors grew its stake in shares of Linde by 22.7% in the 4th quarter. Capital World Investors now owns 7,657,766 shares of the basic materials company’s stock valued at $2,654,399,000 after buying an additional 1,416,567 shares during the period. Finally, BlackRock Inc. grew its stake in shares of Linde by 5.6% in 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 buying an additional 1,368,221 shares during the period. Hedge funds and other institutional investors own 77.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LIN. Evercore ISI raised shares of Linde from an “in-line” rating to an “outperform” rating and set a $355.00 price target for the company in a research note on Tuesday, May 31st. Credit Suisse Group began coverage on shares of Linde in a research note on Tuesday, May 31st. They issued an “outperform” rating and a $380.00 price target for the company. Stifel Nicolaus raised shares of Linde from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Bank of America dropped their price target on shares of Linde from $370.00 to $369.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Finally, UBS Group lowered their price objective on shares of Linde from $355.00 to $320.00 and set a “buy” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $365.60.

Linde Price Performance

Linde stock opened at $282.90 on Friday. The firm 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. Linde plc has a 52-week low of $265.12 and a 52-week 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’s 50 day moving average is $290.72 and its two-hundred day moving average is $301.88.

Linde (NYSE:LINGet Rating) last released its earnings results on Thursday, July 28th. The basic materials company reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 10.88% and a return on equity of 13.41%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.70 EPS. On average, research analysts expect that Linde plc will post 11.9 EPS for the current fiscal year.

Linde Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be issued a $1.17 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.68 dividend on an annualized basis and a dividend yield of 1.65%. Linde’s payout ratio is 67.83%.

Linde Company 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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