Valley National Advisers Inc. Decreases Stake in Linde plc (NASDAQ:LIN)

Valley National Advisers Inc. decreased its holdings in Linde plc (NASDAQ:LIN) by 82.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60 shares of the basic materials company’s stock after selling 279 shares during the quarter. Valley National Advisers Inc.’s holdings in Linde were worth $27,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Bank of Canada FI increased its holdings 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 valued at $20,593,000 after purchasing an additional 15,393 shares in the last quarter. Vident Advisory LLC grew 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 valued at $3,750,000 after buying an additional 2,337 shares during the last quarter. Choate Investment Advisors increased its position in Linde by 23.6% during the first quarter. Choate Investment Advisors now owns 18,017 shares of the basic materials company’s stock worth $8,366,000 after buying an additional 3,437 shares in the last quarter. Norden Group LLC acquired a new position in shares of Linde in the first quarter worth $5,041,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Linde by 4.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,975 shares of the basic materials company’s stock valued at $26,215,000 after acquiring an additional 2,312 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on LIN. JPMorgan Chase & Co. lifted their price objective on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Barclays boosted their price objective on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Bank of America raised their target price on shares of Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Citigroup boosted their price target on Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Finally, UBS Group decreased their price objective on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $484.18.

Linde Stock Performance

NASDAQ LIN opened at $476.00 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. Linde plc has a 1-year low of $373.69 and a 1-year high of $487.49. The firm has a market capitalization of $227.29 billion, a P/E ratio of 36.23, a P/E/G ratio of 3.00 and a beta of 0.94. The business’s 50-day simple moving average is $472.59 and its 200-day simple moving average is $451.36.

Linde (NASDAQ:LIN) last posted its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (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 company had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter last year, the firm posted $3.57 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts predict that Linde plc will post 15.52 EPS for the current year.

Insider Buying and Selling

In other Linde news, VP John Panikar sold 10,025 shares of Linde stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the sale, the vice president now directly owns 17,584 shares in the company, valued at $8,136,996. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.