Truist Financial Corp Sells 1,158 Shares of Linde plc (NASDAQ:LIN)

Truist Financial Corp trimmed its holdings in shares of Linde plc (NASDAQ:LIN) by 1.1% during the second quarter, HoldingsChannel reports. The fund owned 105,899 shares of the basic materials company’s stock after selling 1,158 shares during the quarter. Truist Financial Corp’s holdings in Linde were worth $46,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in Linde by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,796,924 shares of the basic materials company’s stock valued at $4,434,406,000 after purchasing an additional 141,322 shares during the period. National Bank of Canada FI lifted its stake in shares of Linde by 46.9% in the first quarter. National Bank of Canada FI now owns 48,211 shares of the basic materials company’s stock worth $20,593,000 after acquiring an additional 15,393 shares during the period. Vontobel Asset Management Inc. bought a new stake in Linde in the fourth quarter valued at approximately $26,603,000. Prudential PLC increased its position in Linde by 9.7% during the 4th quarter. Prudential PLC now owns 27,136 shares of the basic materials company’s stock valued at $11,145,000 after purchasing an additional 2,409 shares during the period. Finally, Vident Advisory LLC raised its holdings in Linde by 40.7% during the 1st quarter. Vident Advisory LLC now owns 8,075 shares of the basic materials company’s stock worth $3,750,000 after purchasing an additional 2,337 shares during the last quarter. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Linde Trading Up 0.2 %

NASDAQ LIN opened at $475.84 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. Linde plc has a 52 week low of $361.02 and a 52 week high of $483.36. The business has a 50 day moving average price of $463.30 and a 200-day moving average price of $449.81. The company has a market cap of $227.21 billion, a price-to-earnings ratio of 36.92, a P/E/G ratio of 3.00 and a beta of 0.94.

Linde (NASDAQ:LIN) last announced its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.06. Linde had a net margin of 19.49% and a return on equity of 17.92%. The business had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the previous year, the business posted $3.57 EPS. Linde’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts expect 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. Investors of record on Wednesday, September 4th were given a $1.39 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.56 annualized dividend and a yield of 1.17%. Linde’s payout ratio is 43.13%.

Insider Buying and Selling at Linde

In other news, VP John Panikar sold 10,025 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total value of $4,639,068.75. Following the completion of the sale, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LIN shares. Barclays lifted their target price on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. UBS Group dropped their price objective on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. BMO Capital Markets restated an “outperform” rating and set a $477.00 target price on shares of Linde in a research report on Friday, August 30th. Citigroup lifted their target price on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, Bank of America boosted their price target on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $484.18.

About Linde

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.