NewEdge Advisors LLC Has $16.50 Million Stock Position in Linde plc (NASDAQ:LIN)

NewEdge Advisors LLC lifted its stake in Linde plc (NASDAQ:LIN) by 23.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 37,602 shares of the basic materials company’s stock after buying an additional 7,197 shares during the period. NewEdge Advisors LLC’s holdings in Linde were worth $16,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Retirement Group LLC acquired a new stake in shares of Linde in the 1st quarter valued at $25,000. Summit Securities Group LLC acquired a new stake in shares of Linde in the 2nd quarter valued at $28,000. Scarborough Advisors LLC acquired a new stake in Linde in the 4th quarter valued at about $30,000. Strategic Financial Concepts LLC bought a new position in shares of Linde in the second quarter worth about $33,000. Finally, Valued Wealth Advisors LLC lifted its position in shares of Linde by 49.0% during the first quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LIN shares. JPMorgan Chase & Co. boosted their price objective on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $477.00 target price on shares of Linde in a research note on Friday, August 30th. Barclays raised their price objective on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Bank of America upped their target price on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, UBS Group dropped their target price on shares of Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Linde has a consensus rating of “Moderate Buy” and a consensus target price of $484.18.

Linde Price Performance

Shares of NASDAQ LIN opened at $479.51 on Monday. The firm has a market cap of $228.97 billion, a PE ratio of 37.20, a PEG ratio of 3.00 and a beta of 0.94. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Linde plc has a 1-year low of $361.02 and a 1-year high of $483.36. The company has a fifty day moving average price of $461.49 and a 200 day moving average price of $449.56.

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

Linde Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.39 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.56 annualized dividend and a yield of 1.16%. Linde’s dividend payout ratio (DPR) is presently 43.13%.

Insiders Place Their Bets

In other news, VP John Panikar sold 10,025 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total value of $4,639,068.75. Following the sale, the vice president now directly owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Linde 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.