Portfolio Design Labs LLC Buys 4,081 Shares of Linde plc (NASDAQ:LIN)

Portfolio Design Labs LLC lifted its position in shares of Linde plc (NASDAQ:LIN - Free Report) by 364.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,202 shares of the basic materials company's stock after acquiring an additional 4,081 shares during the period. Portfolio Design Labs LLC's holdings in Linde were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB acquired a new position in Linde during the 2nd quarter worth approximately $420,720,000. International Assets Investment Management LLC increased its position in Linde by 47,830.2% in the 3rd quarter. International Assets Investment Management LLC now owns 936,076 shares of the basic materials company's stock valued at $446,377,000 after acquiring an additional 934,123 shares during the period. iA Global Asset Management Inc. acquired a new position in Linde in the 1st quarter valued at approximately $210,480,000. AMF Tjanstepension AB increased its position in Linde by 108.7% in the 3rd quarter. AMF Tjanstepension AB now owns 784,477 shares of the basic materials company's stock valued at $374,086,000 after acquiring an additional 408,659 shares during the period. Finally, KBC Group NV increased its position in Linde by 131.6% in the 3rd quarter. KBC Group NV now owns 621,444 shares of the basic materials company's stock valued at $296,342,000 after acquiring an additional 353,136 shares during the period. Institutional investors own 82.80% of the company's stock.

Linde Stock Up 1.4 %

NASDAQ LIN traded up $6.08 on Wednesday, hitting $450.14. 1,928,674 shares of the company were exchanged, compared to its average volume of 1,837,738. The company has a market cap of $214.34 billion, a PE ratio of 33.72, a PEG ratio of 2.88 and a beta of 0.94. Linde plc has a 12 month low of $396.07 and a 12 month high of $487.49. The stock has a fifty day moving average of $469.39 and a 200-day moving average of $453.14. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43.

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

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be issued 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 dividend payout ratio is currently 42.22%.

Insider Activity

In other news, VP John Panikar sold 10,025 shares of Linde stock in a transaction on Tuesday, September 10th. The stock was 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. The trade was a 36.31 % decrease in their ownership of the stock. 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 currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have issued reports on LIN. Deutsche Bank Aktiengesellschaft upped their price target on shares of Linde from $510.00 to $515.00 and gave the company a "buy" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Linde from $430.00 to $480.00 and gave the company an "overweight" rating in a research report on Monday, August 5th. Barclays upped their price target on shares of Linde from $460.00 to $510.00 and gave the company an "overweight" rating in a research report on Monday, August 5th. Bank of America increased their price objective 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. Finally, Mizuho increased 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. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $490.75.

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.