Chicago Capital LLC grew its holdings in Linde plc (NASDAQ:LIN - Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,035 shares of the basic materials company's stock after purchasing an additional 1,870 shares during the quarter. Chicago Capital LLC's holdings in Linde were worth $12,302,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in LIN. Norges Bank acquired a new position in shares of Linde during the fourth quarter worth $3,066,825,000. Clearbridge Investments LLC increased its position in shares of Linde by 566.9% during the first quarter. Clearbridge Investments LLC now owns 1,833,465 shares of the basic materials company's stock worth $851,314,000 after purchasing an additional 1,558,538 shares in the last quarter. Swedbank AB acquired a new stake in shares of Linde in the second quarter valued at approximately $420,720,000. ProShare Advisors LLC grew its holdings in shares of Linde by 91.6% during the first quarter. ProShare Advisors LLC now owns 968,402 shares of the basic materials company's stock worth $449,648,000 after buying an additional 463,096 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in Linde during the 1st quarter worth approximately $210,480,000. Institutional investors and hedge funds own 82.80% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on LIN. UBS Group reduced their target price on Linde from $490.00 to $475.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 9th. Citigroup raised their target price on shares of Linde from $470.00 to $480.00 and gave the stock a "neutral" rating in a research report on Friday, July 12th. BMO Capital Markets reiterated an "outperform" rating and issued a $477.00 price target on shares of Linde in a report on Friday, August 30th. Barclays lifted their price objective on Linde from $460.00 to $510.00 and gave the company an "overweight" rating in a research report on Monday, August 5th. Finally, Bank of America raised their price target on Linde from $495.00 to $516.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Linde presently has an average rating of "Moderate Buy" and a consensus price target of $484.18.
Check Out Our Latest Stock Report on LIN
Linde Stock Performance
Shares of NASDAQ:LIN traded down $8.67 during trading on Friday, hitting $456.85. 2,012,129 shares of the company traded hands, compared to its average volume of 1,897,746. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. The business's fifty day moving average is $451.18 and its 200-day moving average is $447.95. The stock has a market capitalization of $218.15 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 3.00 and a beta of 0.94. Linde plc has a one year low of $361.02 and a one year high of $479.79.
Linde (NASDAQ:LIN - Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $0.06. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company had revenue of $8.30 billion for the quarter, compared to analysts' expectations of $8.30 billion. During the same quarter in the previous year, the company posted $3.57 earnings per share. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that Linde plc will post 15.54 earnings per share for the current fiscal year.
Linde Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $1.39 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.56 annualized dividend and a dividend yield of 1.22%. Linde's dividend payout ratio is currently 43.13%.
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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