Mizuho Securities USA LLC cut its stake in shares of Linde plc (NASDAQ:LIN - Free Report) by 68.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,711 shares of the basic materials company's stock after selling 25,353 shares during the period. Mizuho Securities USA LLC's holdings in Linde were worth $5,585,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of LIN. Summit Securities Group LLC bought a new stake in Linde during the second quarter valued at $28,000. Strategic Financial Concepts LLC bought a new stake in shares of Linde during the 2nd quarter valued at about $33,000. Kozak & Associates Inc. purchased a new position in shares of Linde during the third quarter worth about $34,000. J.Safra Asset Management Corp bought a new position in shares of Linde in the second quarter worth approximately $42,000. Finally, Capital Performance Advisors LLP purchased a new stake in Linde in the third quarter valued at approximately $43,000. 82.80% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Linde
In other Linde news, VP John Panikar sold 10,025 shares of the company'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 completion of the transaction, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. This represents a 36.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms have commented on LIN. BMO Capital Markets boosted their price target on shares of Linde from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Bank of America upped their target price on shares of Linde from $495.00 to $516.00 and gave the stock a "buy" rating in a research report on Monday, August 5th. Mizuho raised their price target on Linde from $520.00 to $530.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Linde from $430.00 to $480.00 and gave the stock an "overweight" rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Linde from $510.00 to $515.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $490.75.
Read Our Latest Stock Report on LIN
Linde Stock Performance
NASDAQ:LIN opened at $449.10 on Friday. 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 plc has a fifty-two week low of $396.07 and a fifty-two week high of $487.49. The firm has a market cap of $213.84 billion, a PE ratio of 34.10, a price-to-earnings-growth ratio of 2.88 and a beta of 0.94. The business has a 50 day moving average price of $470.08 and a 200-day moving average price of $452.72.
Linde (NASDAQ:LIN - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.05. The business had revenue of $8.36 billion during the quarter, compared to analysts' expectations of $8.39 billion. Linde had a net margin of 19.33% and a return on equity of 18.16%. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.63 EPS. Equities research analysts predict that Linde plc will post 15.48 earnings per share for the current year.
Linde Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be paid a $1.39 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $5.56 annualized dividend and a dividend yield of 1.24%. Linde's payout ratio is presently 42.22%.
Linde Company Profile
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Free Report)
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.
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