iA Global Asset Management Inc. trimmed its stake in shares of Linde plc (NASDAQ:LIN - Free Report) by 8.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 414,047 shares of the basic materials company's stock after selling 39,261 shares during the quarter. Linde accounts for 2.0% of iA Global Asset Management Inc.'s portfolio, making the stock its 11th largest holding. iA Global Asset Management Inc. owned approximately 0.09% of Linde worth $181,688,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Retirement Group LLC acquired a new position in shares of Linde during the 1st quarter worth approximately $25,000. Summit Securities Group LLC acquired a new stake in Linde in the second quarter valued at approximately $28,000. First Pacific Financial bought a new stake in Linde during the first quarter worth $30,000. Scarborough Advisors LLC bought a new position in shares of Linde in the fourth quarter valued at approximately $30,000. Finally, Johnson Financial Group Inc. grew its stake in Linde by 44.4% in the 4th quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company's stock valued at $32,000 after buying an additional 24 shares in the last quarter. 82.80% of the stock is owned by institutional investors.
Linde Trading Up 1.2 %
Shares of LIN traded up $5.52 on Friday, reaching $478.25. 1,385,625 shares of the company's stock were exchanged, compared to its average volume of 1,899,248. The stock has a market capitalization of $229.88 billion, a P/E ratio of 37.10, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. The business has a 50 day moving average price of $447.57 and a two-hundred day moving average price of $445.93. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Linde plc has a 12 month low of $361.02 and a 12 month high of $479.79.
Linde (NASDAQ:LIN - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $0.06. The business had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.30 billion. Linde had a net margin of 19.49% and a return on equity of 17.92%. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.57 earnings per share. Research analysts anticipate that Linde plc will post 15.54 earnings per share for the current year.
Linde Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be given a $1.39 dividend. This represents a $5.56 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Wednesday, September 4th. Linde's payout ratio is presently 43.13%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on LIN. UBS Group reduced their price objective on Linde from $490.00 to $475.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 9th. HSBC cut their price objective on shares of Linde from $458.00 to $452.00 and set a "buy" rating for the company in a research report on Monday, May 6th. BMO Capital Markets reiterated an "outperform" rating and set a $477.00 price target on shares of Linde in a report on Friday. Mizuho raised their price objective on Linde from $510.00 to $512.00 and gave the company a "buy" rating in a research report on Friday, May 3rd. Finally, Barclays boosted their price objective on Linde from $460.00 to $510.00 and gave the company an "overweight" rating in a report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $484.18.
View Our Latest Report on LIN
About Linde
(
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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