CIBC Asset Management Inc Acquires 5,573 Shares of Linde plc (NASDAQ:LIN)

CIBC Asset Management Inc grew its holdings in Linde plc (NASDAQ:LIN - Free Report) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,470 shares of the basic materials company's stock after acquiring an additional 5,573 shares during the period. CIBC Asset Management Inc owned about 0.06% of Linde worth $127,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Trifecta Capital Advisors LLC boosted its stake in Linde by 16.9% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 145 shares of the basic materials company's stock worth $69,000 after purchasing an additional 21 shares during the period. Prentice Wealth Management LLC raised its stake in Linde by 1.7% in the 3rd quarter. Prentice Wealth Management LLC now owns 1,367 shares of the basic materials company's stock valued at $652,000 after acquiring an additional 23 shares during the period. Quotient Wealth Partners LLC grew its stake in Linde by 0.9% in the 3rd quarter. Quotient Wealth Partners LLC now owns 2,706 shares of the basic materials company's stock valued at $1,290,000 after buying an additional 23 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its holdings in shares of Linde by 1.3% during the third quarter. Regent Peak Wealth Advisors LLC now owns 1,831 shares of the basic materials company's stock worth $873,000 after buying an additional 23 shares in the last quarter. Finally, Nwam LLC raised its stake in Linde by 2.5% in the first quarter. Nwam LLC now owns 966 shares of the basic materials company's stock valued at $421,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company's stock.

Linde Price Performance

Shares of NASDAQ:LIN traded down $5.44 during trading on Friday, reaching $448.05. The stock had a trading volume of 1,170,854 shares, compared to its average volume of 1,830,989. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96. The business has a fifty day moving average price of $470.23 and a 200-day moving average price of $452.61. Linde plc has a 1-year low of $396.07 and a 1-year high of $487.49. The stock has a market cap of $213.34 billion, a PE ratio of 34.17, a PEG ratio of 2.92 and a beta of 0.94.

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

Linde Dividend Announcement

The firm also recently disclosed 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 1.24%. Linde's dividend payout ratio (DPR) is 42.22%.

Insider Transactions at Linde

In other Linde news, VP John Panikar sold 10,025 shares of the business's stock in a transaction 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 owns 17,584 shares in the company, valued at $8,136,996. The trade was a 36.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

LIN has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Linde from $510.00 to $515.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Bank of America raised their price target on shares of Linde from $495.00 to $516.00 and gave the company a "buy" rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on Linde from $430.00 to $480.00 and gave the company an "overweight" rating in a research report on Monday, August 5th. Barclays boosted 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. Finally, Mizuho increased their target price on shares of Linde from $520.00 to $530.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $490.75.

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.