Allworth Financial LP Acquires 3,906 Shares of Linde plc (NASDAQ:LIN)

Allworth Financial LP boosted its stake in Linde plc (NASDAQ:LIN) by 125.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,008 shares of the basic materials company’s stock after acquiring an additional 3,906 shares during the period. Allworth Financial LP’s holdings in Linde were worth $3,342,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. National Bank of Canada FI raised its position in shares of Linde by 46.9% in the 1st 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 in the last quarter. Vident Advisory LLC grew its position in shares of Linde by 40.7% in the 1st quarter. Vident Advisory LLC now owns 8,075 shares of the basic materials company’s stock worth $3,750,000 after buying an additional 2,337 shares during the period. Choate Investment Advisors increased its stake in shares of Linde by 23.6% in the 1st quarter. Choate Investment Advisors now owns 18,017 shares of the basic materials company’s stock worth $8,366,000 after acquiring an additional 3,437 shares in the last quarter. Norden Group LLC purchased a new position in Linde during the 1st quarter valued at about $5,041,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Linde by 4.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,975 shares of the basic materials company’s stock worth $26,215,000 after acquiring an additional 2,312 shares in the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

Linde Stock Performance

Shares of LIN stock opened at $473.76 on Monday. The firm has a market capitalization of $226.22 billion, a PE ratio of 36.05, a P/E/G ratio of 3.05 and a beta of 0.94. The company has a 50 day moving average price of $472.24 and a 200-day moving average price of $451.20. Linde plc has a 52 week low of $366.12 and a 52 week high of $487.49. 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 (NASDAQ:LIN) last posted its earnings results on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.06. The business had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $8.30 billion. Linde had a net margin of 19.49% and a return on equity of 17.92%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.57 EPS. As a group, equities research analysts expect that Linde plc will post 15.52 earnings per share for the current year.

Linde Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s payout ratio is currently 42.31%.

Analyst Ratings Changes

LIN has been the subject of a number of analyst reports. 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 note on Friday, July 12th. Barclays lifted their price objective on 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 increased their target price on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, UBS Group dropped their price target on shares of Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $484.18.

Insider Transactions at Linde

In other Linde news, VP John Panikar sold 10,025 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.

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.