CIBC Asset Management Inc Acquires 3,572 Shares of Linde plc (NASDAQ:LIN)

CIBC Asset Management Inc increased its position in shares of Linde plc (NASDAQ:LIN - Free Report) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,042 shares of the basic materials company's stock after purchasing an additional 3,572 shares during the quarter. CIBC Asset Management Inc owned approximately 0.06% of Linde worth $113,366,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Concord Asset Management LLC VA boosted its position in Linde by 0.5% during the fourth quarter. Concord Asset Management LLC VA now owns 4,774 shares of the basic materials company's stock worth $1,999,000 after purchasing an additional 23 shares during the period. Salomon & Ludwin LLC lifted its position in Linde by 14.3% during the third quarter. Salomon & Ludwin LLC now owns 192 shares of the basic materials company's stock worth $92,000 after purchasing an additional 24 shares during the period. Fourpath Capital Management LLC lifted its position in Linde by 0.6% during the fourth quarter. Fourpath Capital Management LLC now owns 4,138 shares of the basic materials company's stock worth $1,732,000 after purchasing an additional 24 shares during the period. Greystone Financial Group LLC lifted its position in Linde by 1.3% during the third quarter. Greystone Financial Group LLC now owns 2,013 shares of the basic materials company's stock worth $960,000 after purchasing an additional 25 shares during the period. Finally, Romano Brothers AND Company raised its stake in Linde by 1.3% during the fourth quarter. Romano Brothers AND Company now owns 2,009 shares of the basic materials company's stock worth $841,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company's stock.

Insider Buying and Selling

In related news, Director Paula Rosput Reynolds bought 100 shares of Linde stock in a transaction on Thursday, December 12th. The stock was acquired at an average price of $441.34 per share, with a total value of $44,134.00. Following the acquisition, the director now directly owns 233 shares of the company's stock, valued at $102,832.22. This represents a 75.19 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Wood sold 2,900 shares of Linde stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $456.26, for a total value of $1,323,154.00. Following the transaction, the director now directly owns 14,013 shares of the company's stock, valued at $6,393,571.38. The trade was a 17.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,503 shares of company stock valued at $4,306,843. 0.60% of the stock is owned by insiders.

Linde Stock Performance

Shares of Linde stock traded down $0.17 during trading hours on Thursday, hitting $461.90. 1,334,477 shares of the company's stock traded hands, compared to its average volume of 2,259,478. Linde plc has a 12-month low of $410.69 and a 12-month high of $487.49. The stock has a market capitalization of $219.94 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 3.11 and a beta of 0.94. The company has a fifty day simple moving average of $435.96 and a 200-day simple moving average of $454.18. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.89 and a quick ratio of 0.76.

Linde (NASDAQ:LIN - Get Free Report) last announced its earnings results on Thursday, February 6th. The basic materials company reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $0.04. Linde had a return on equity of 18.71% and a net margin of 19.89%. Equities research analysts anticipate that Linde plc will post 16.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on LIN shares. Mizuho boosted their target price on Linde from $520.00 to $530.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Erste Group Bank reissued a "hold" rating on shares of Linde in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their price target on Linde from $510.00 to $515.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Citigroup cut their price target on Linde from $490.00 to $480.00 and set a "neutral" rating on the stock in a report on Wednesday, December 18th. Finally, TD Cowen upgraded Linde from a "hold" rating to a "buy" rating and increased their target price for the stock from $480.00 to $515.00 in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Linde has an average rating of "Moderate Buy" and an average price target of $501.82.

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.