M&G Plc Has $90.92 Million Stock Holdings in Linde plc (NASDAQ:LIN)

M&G PLC grew its stake in shares of Linde plc (NASDAQ:LIN - Free Report) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 190,615 shares of the basic materials company's stock after buying an additional 4,712 shares during the period. M&G PLC's holdings in Linde were worth $90,923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Consilium Wealth Advisory LLC raised its position in shares of Linde by 2.4% during the third quarter. Consilium Wealth Advisory LLC now owns 2,254 shares of the basic materials company's stock worth $1,075,000 after purchasing an additional 52 shares during the period. Concurrent Investment Advisors LLC boosted its stake in Linde by 20.7% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 5,582 shares of the basic materials company's stock worth $2,662,000 after purchasing an additional 957 shares during the period. Maia Wealth LLC bought a new stake in shares of Linde in the third quarter valued at about $208,000. Catalina Capital Group LLC grew its holdings in shares of Linde by 14.0% during the third quarter. Catalina Capital Group LLC now owns 1,640 shares of the basic materials company's stock worth $782,000 after buying an additional 201 shares in the last quarter. Finally, Beacon Financial Advisory LLC bought a new stake in Linde in the 3rd quarter valued at approximately $204,000. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on LIN shares. Mizuho boosted their price objective on shares of Linde from $520.00 to $530.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Linde from $430.00 to $480.00 and gave the company an "overweight" rating in a research note on Monday, August 5th. Bank of America raised their target price on shares of Linde from $495.00 to $516.00 and gave the company a "buy" rating in a research note on Monday, August 5th. BMO Capital Markets increased their price target on shares of Linde from $477.00 to $507.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Linde from $510.00 to $515.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $490.75.

Linde Stock Performance

Shares of NASDAQ LIN traded up $2.84 during trading hours on Thursday, reaching $465.47. 1,827,999 shares of the stock were exchanged, compared to its average volume of 1,836,941. The stock's fifty day simple moving average is $472.12 and its 200 day simple moving average is $452.12. The firm has a market capitalization of $221.64 billion, a price-to-earnings ratio of 35.38, a P/E/G ratio of 2.94 and a beta of 0.94. Linde plc has a 52 week low of $389.14 and a 52 week 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 announced its earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.89 by $0.05. Linde had a net margin of 19.33% and a return on equity of 18.16%. The company had revenue of $8.36 billion during the quarter, compared to analysts' expectations of $8.39 billion. During the same quarter in the previous year, the business posted $3.63 earnings per share. Linde's quarterly revenue was up 1.9% on a year-over-year basis. Sell-side analysts predict that Linde plc will post 15.47 EPS for the current year.

Linde Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a $1.39 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.19%. Linde's payout ratio is 42.22%.

Insider Activity

In other news, VP John Panikar sold 10,025 shares of the company's stock in a transaction 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 completion of the sale, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by company insiders.

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.