Toroso Investments LLC grew its holdings in shares of Linde plc (NYSE:LIN – Get Rating) by 25.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,621 shares of the basic materials company’s stock after buying an additional 1,538 shares during the quarter. Toroso Investments LLC’s holdings in Linde were worth $2,434,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TCG Advisory Services LLC bought a new stake in shares of Linde in the 1st quarter valued at about $226,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Linde by 453.5% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 20,928 shares of the basic materials company’s stock valued at $6,685,000 after purchasing an additional 17,147 shares during the period. C2C Wealth Management LLC bought a new stake in shares of Linde in the 4th quarter valued at about $390,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Linde by 44.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 18,103 shares of the basic materials company’s stock valued at $5,783,000 after purchasing an additional 5,573 shares during the period. Finally, Alphastar Capital Management LLC raised its holdings in shares of Linde by 25.0% in the 1st quarter. Alphastar Capital Management LLC now owns 1,882 shares of the basic materials company’s stock valued at $601,000 after purchasing an additional 376 shares during the period. 77.07% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on LIN. Bank of America lowered their price target on shares of Linde from $370.00 to $369.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Evercore ISI upgraded shares of Linde from an “in-line” rating to an “outperform” rating and set a $355.00 target price on the stock in a research report on Tuesday, May 31st. UBS Group decreased their target price on shares of Linde from $355.00 to $320.00 and set a “buy” rating on the stock in a research report on Monday. Credit Suisse Group assumed coverage on shares of Linde in a research report on Tuesday, May 31st. They set an “outperform” rating and a $380.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Linde from €370.00 ($377.55) to €355.00 ($362.24) and set a “buy” rating on the stock in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $365.60.
Linde Stock Performance
Linde (NYSE:LIN – Get Rating) last issued its earnings results on Thursday, July 28th. The basic materials company reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.12. Linde had a net margin of 10.88% and a return on equity of 13.41%. The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same quarter last year, the business posted $2.70 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities analysts forecast that Linde plc will post 11.9 earnings per share for the current fiscal year.
Linde Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Thursday, September 1st. Linde’s payout ratio is currently 67.83%.
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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