MONECO Advisors LLC Buys 63 Shares of Linde plc (NASDAQ:LIN)

MONECO Advisors LLC increased its position in Linde plc (NASDAQ:LIN) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 916 shares of the basic materials company’s stock after acquiring an additional 63 shares during the quarter. MONECO Advisors LLC’s holdings in Linde were worth $437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LIN. Clearbridge Investments LLC grew its position in shares of Linde by 566.9% during the first quarter. Clearbridge Investments LLC now owns 1,833,465 shares of the basic materials company’s stock worth $851,314,000 after purchasing an additional 1,558,538 shares in the last quarter. Swedbank AB purchased a new stake in Linde during the 2nd quarter valued at approximately $420,720,000. International Assets Investment Management LLC raised its position in shares of Linde by 47,830.2% during the third quarter. International Assets Investment Management LLC now owns 936,076 shares of the basic materials company’s stock valued at $446,377,000 after buying an additional 934,123 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Linde by 91.6% in the first quarter. ProShare Advisors LLC now owns 968,402 shares of the basic materials company’s stock worth $449,648,000 after buying an additional 463,096 shares in the last quarter. Finally, iA Global Asset Management Inc. bought a new position in shares of Linde during the first quarter worth $210,480,000. Institutional investors own 82.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on LIN shares. BMO Capital Markets reiterated an “outperform” rating and issued a $477.00 price target on shares of Linde in a report on Friday, August 30th. UBS Group decreased their target price on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Citigroup upped their price objective on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, Barclays raised their target price on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $484.18.

Insider Activity at Linde

In related news, VP John Panikar sold 10,025 shares of the company’s 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 sale, the vice president now owns 17,584 shares in the company, valued at $8,136,996. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by insiders.

Linde Price Performance

Shares of LIN stock opened at $473.40 on Thursday. The company has a market cap of $226.05 billion, a P/E ratio of 36.03, a PEG ratio of 3.00 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. The stock’s 50-day moving average is $473.15 and its 200 day moving average is $451.70. Linde plc has a 1-year low of $376.70 and a 1-year high of $487.49.

Linde (NASDAQ:LIN) last released 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. The company had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $3.57 earnings per share. Research analysts predict that Linde plc will post 15.52 earnings per share for the current fiscal year.

Linde Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $1.39 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $5.56 annualized dividend and a yield of 1.17%. Linde’s payout ratio is presently 42.31%.

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.