Corebridge Financial Inc. Trims Position in Linde plc (NASDAQ:LIN)

Corebridge Financial Inc. trimmed its stake in Linde plc (NASDAQ:LIN - Free Report) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,189 shares of the basic materials company's stock after selling 4,678 shares during the period. Linde accounts for approximately 0.4% of Corebridge Financial Inc.'s holdings, making the stock its 29th largest position. Corebridge Financial Inc.'s holdings in Linde were worth $66,648,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Linde by 1.4% in the third quarter. Geode Capital Management LLC now owns 10,973,175 shares of the basic materials company's stock worth $5,217,197,000 after purchasing an additional 154,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Linde by 372.8% during the 3rd 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 valued at $1,567,958,000 after buying an additional 2,592,682 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Linde by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,105,290 shares of the basic materials company's stock worth $1,300,092,000 after buying an additional 89,408 shares during the period. Nordea Investment Management AB increased its stake in Linde by 2.2% in the 4th quarter. Nordea Investment Management AB now owns 2,145,643 shares of the basic materials company's stock worth $898,188,000 after buying an additional 46,843 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd increased its stake in Linde by 3.0% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,680,279 shares of the basic materials company's stock worth $703,482,000 after buying an additional 49,374 shares in the last quarter. 82.80% of the stock is owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

LIN has been the topic of several research analyst reports. TD Cowen upgraded Linde from a "hold" rating to a "buy" rating and boosted their price objective for the company from $480.00 to $515.00 in a research report on Monday, January 13th. Citigroup lowered 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. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $501.82.

Insider Buying and Selling

In other Linde news, VP David P. Strauss sold 2,477 shares of Linde stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $469.74, for a total transaction of $1,163,545.98. Following the completion of the transaction, the vice president now directly owns 1,300 shares of the company's stock, valued at $610,662. The trade was a 65.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Wood sold 2,900 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $456.26, for a total transaction of $1,323,154.00. Following the completion of the sale, the director now directly owns 14,013 shares in the company, valued at approximately $6,393,571.38. This represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,159 shares of company stock worth $5,603,843. Corporate insiders own 0.60% of the company's stock.

Linde Price Performance

Shares of LIN traded down $5.62 during mid-day trading on Friday, hitting $459.11. 1,334,712 shares of the stock were exchanged, compared to its average volume of 1,876,018. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.89. The company has a market cap of $217.12 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. Linde plc has a 52-week low of $410.69 and a 52-week high of $487.49. The firm has a 50-day moving average of $456.09 and a two-hundred day moving average of $454.28.

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

Linde Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $1.50 dividend. This is an increase from Linde's previous quarterly dividend of $1.39. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.31%. Linde's dividend payout ratio (DPR) is presently 44.09%.

Linde Company 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.