Truist Financial Corp Increases Stake in Linde plc (NASDAQ:LIN)

Truist Financial Corp grew its position in Linde plc (NASDAQ:LIN - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 110,611 shares of the basic materials company's stock after buying an additional 3,229 shares during the period. Truist Financial Corp's holdings in Linde were worth $46,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new position in Linde in the 4th quarter worth about $25,000. Global Wealth Strategies & Associates grew its stake in shares of Linde by 144.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 71 shares of the basic materials company's stock worth $30,000 after acquiring an additional 42 shares during the period. Retirement Wealth Solutions LLC purchased a new position in shares of Linde during the fourth quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new position in Linde during the third quarter valued at approximately $43,000. Finally, Kozak & Associates Inc. boosted its holdings in Linde by 38.6% in the fourth quarter. Kozak & Associates Inc. now owns 97 shares of the basic materials company's stock worth $40,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 82.80% of the company's stock.

Linde Price Performance

Shares of LIN traded down $3.90 during trading hours on Friday, reaching $458.00. 1,939,256 shares of the stock traded hands, compared to its average volume of 2,250,087. The company has a market cap of $218.08 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. The company's 50-day moving average price is $436.43 and its two-hundred day moving average price is $454.23. Linde plc has a 52-week low of $410.69 and a 52-week high of $487.49.

Linde (NASDAQ:LIN - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $3.97 EPS for the quarter, beating analysts' consensus estimates of $3.93 by $0.04. Linde had a return on equity of 18.71% and a net margin of 19.89%. On average, analysts anticipate that Linde plc will post 16.54 earnings per share for the current year.

Insider Transactions at Linde

In other news, VP Guillermo Bichara sold 4,385 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $460.73, for a total value of $2,020,301.05. Following the completion of the sale, the vice president now directly owns 22,776 shares of the company's stock, valued at $10,493,586.48. This trade represents a 16.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paula Rosput Reynolds purchased 100 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $441.34 per share, with a total value of $44,134.00. Following the completion of the purchase, the director now owns 233 shares in the company, valued at $102,832.22. This trade represents a 75.19 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 16,285 shares of company stock valued at $7,423,986. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on LIN. Mizuho boosted their target price on shares of Linde from $520.00 to $530.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Erste Group Bank reiterated a "hold" rating on shares of Linde in a research report on Tuesday, November 19th. Citigroup cut their price target on Linde from $490.00 to $480.00 and set a "neutral" rating for the company in a research note on Wednesday, December 18th. TD Cowen upgraded shares of Linde from a "hold" rating to a "buy" rating and increased their price objective for the stock from $480.00 to $515.00 in a research note on Monday, January 13th. Finally, BMO Capital Markets boosted their target price on shares of Linde from $477.00 to $507.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $501.82.

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.