Concentric Capital Strategies LP Sells 17,480 Shares of Linde plc (NASDAQ:LIN)

Concentric Capital Strategies LP decreased its position in shares of Linde plc (NASDAQ:LIN - Free Report) by 67.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,296 shares of the basic materials company's stock after selling 17,480 shares during the period. Concentric Capital Strategies LP's holdings in Linde were worth $3,956,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LIN. Ameriprise Financial Inc. raised its holdings in shares of Linde by 0.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,449,218 shares of the basic materials company's stock worth $1,513,551,000 after acquiring an additional 15,187 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Linde by 372.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,288,088 shares of the basic materials company's stock worth $1,567,958,000 after purchasing an additional 2,592,682 shares in the last quarter. Canada Pension Plan Investment Board grew its position in Linde by 7.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,112,160 shares of the basic materials company's stock worth $1,365,647,000 after purchasing an additional 218,746 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Linde by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,015,882 shares of the basic materials company's stock worth $1,438,154,000 after buying an additional 50,882 shares during the period. Finally, Impax Asset Management Group plc grew its holdings in Linde by 2.4% during the third quarter. Impax Asset Management Group plc now owns 2,374,339 shares of the basic materials company's stock worth $1,130,986,000 after acquiring an additional 56,775 shares during the period. 82.80% of the stock is currently owned by institutional investors.

Linde Stock Performance

Shares of NASDAQ:LIN traded down $0.90 during midday trading on Tuesday, reaching $457.40. 598,343 shares of the company's stock traded hands, compared to its average volume of 1,844,048. The stock has a 50 day moving average of $467.20 and a 200 day moving average of $454.55. The company has a market cap of $217.80 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 2.95 and a beta of 0.93. Linde plc has a one year low of $396.07 and a one year high of $487.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96.

Linde (NASDAQ:LIN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, topping analysts' consensus estimates of $3.89 by $0.05. Linde had a return on equity of 18.16% and a net margin of 19.33%. The firm had revenue of $8.36 billion during the quarter, compared to analysts' expectations of $8.39 billion. During the same period in the prior year, the business posted $3.63 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts anticipate that Linde plc will post 15.48 EPS for the current fiscal year.

Linde Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.22%. Linde's dividend payout ratio (DPR) is 42.22%.

Insider Buying and Selling at Linde

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 value of $4,639,068.75. Following the completion of the transaction, the vice president now directly owns 17,584 shares in the company, valued at $8,136,996. The trade was a 36.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Mizuho increased their target price on Linde from $520.00 to $530.00 and gave the company an "outperform" rating in a report on Friday, November 1st. BMO Capital Markets lifted their price target on shares of Linde from $477.00 to $507.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Linde from $510.00 to $515.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Bank of America boosted their price target on Linde from $495.00 to $516.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Finally, Barclays raised their target price on Linde from $460.00 to $510.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $490.75.

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.