Financial Advocates Investment Management Has $1.06 Million Stock Holdings in Linde plc (NASDAQ:LIN)

Financial Advocates Investment Management trimmed its stake in shares of Linde plc (NASDAQ:LIN) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,418 shares of the basic materials company’s stock after selling 41 shares during the period. Financial Advocates Investment Management’s holdings in Linde were worth $1,061,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LIN. Nixon Peabody Trust Co. lifted its stake in shares of Linde by 7.0% in the 2nd quarter. Nixon Peabody Trust Co. now owns 41,087 shares of the basic materials company’s stock valued at $18,029,000 after purchasing an additional 2,687 shares during the period. HB Wealth Management LLC raised its position in shares of Linde by 13.7% during the second quarter. HB Wealth Management LLC now owns 8,914 shares of the basic materials company’s stock worth $3,912,000 after purchasing an additional 1,076 shares during the period. TSA Wealth Managment LLC grew its position in shares of Linde by 8.0% in the 2nd quarter. TSA Wealth Managment LLC now owns 719 shares of the basic materials company’s stock valued at $316,000 after purchasing an additional 53 shares during the period. Kintegral Advisory LLC bought a new stake in Linde during the 2nd quarter worth approximately $5,166,000. Finally, West Branch Capital LLC lifted its stake in Linde by 23.4% in the second quarter. West Branch Capital LLC now owns 1,274 shares of the basic materials company’s stock valued at $559,000 after buying an additional 242 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Mizuho upped their price objective on Linde from $510.00 to $512.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Citigroup raised their target price on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Bank of America boosted their price objective on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, BMO Capital Markets increased their price target on Linde from $475.00 to $477.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $484.18.

Linde Price Performance

Shares of NASDAQ:LIN opened at $472.73 on Friday. The firm has a market cap of $227.23 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. Linde plc has a 52 week low of $361.02 and a 52 week high of $477.71. The firm’s fifty day moving average is $446.97 and its 200-day moving average is $445.74. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95.

Linde (NASDAQ:LIN) last posted its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, topping the consensus estimate of $3.79 by $0.06. The company had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $8.30 billion. Linde had a net margin of 19.49% and a return on equity of 17.92%. Linde’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.57 earnings per share. Sell-side analysts predict that Linde plc will post 15.54 earnings per share for the current year.

Linde Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $1.39 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.56 annualized dividend and a dividend yield of 1.18%. Linde’s payout ratio is 43.13%.

Linde Company Profile

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