Tributary Capital Management LLC Cuts Position in Linde plc (NASDAQ:LIN)

Tributary Capital Management LLC lessened its stake in Linde plc (NASDAQ:LIN) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,520 shares of the basic materials company’s stock after selling 40 shares during the quarter. Tributary Capital Management LLC’s holdings in Linde were worth $706,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Scarborough Advisors LLC bought a new stake in Linde during the 4th quarter valued at $30,000. Johnson Financial Group Inc. grew its position in Linde by 44.4% in the fourth quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 24 shares in the last quarter. Addison Advisors LLC grew its position in Linde by 310.0% in the fourth quarter. Addison Advisors LLC now owns 82 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 62 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Linde by 347.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 94 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 73 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new position in Linde in the fourth quarter worth $39,000. Institutional investors own 82.80% of the company’s stock.

Analysts Set New Price Targets

LIN has been the subject of several research reports. Wells Fargo & Company upped their target price on shares of Linde from $480.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. BMO Capital Markets cut their target price on shares of Linde from $510.00 to $475.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Mizuho upped their target price on shares of Linde from $510.00 to $512.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Citigroup lowered shares of Linde from a “buy” rating to a “neutral” rating and upped their price target for the company from $475.00 to $500.00 in a research report on Wednesday, April 10th. Finally, UBS Group lowered shares of Linde from a “buy” rating to a “neutral” rating and upped their price target for the company from $482.00 to $510.00 in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $468.83.

Linde Trading Up 0.2 %

Linde stock traded up $0.92 during mid-day trading on Tuesday, reaching $429.86. 45,398 shares of the company traded hands, compared to its average volume of 2,054,256. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.91 and a quick ratio of 0.76. The firm’s 50 day moving average price is $435.71 and its 200 day moving average price is $434.09. The firm has a market capitalization of $206.63 billion, a price-to-earnings ratio of 33.28, a P/E/G ratio of 2.75 and a beta of 0.94. Linde plc has a 52-week low of $358.37 and a 52-week high of $477.71.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. The business had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $8.38 billion. Linde had a net margin of 19.26% and a return on equity of 17.49%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.42 EPS. On average, analysts anticipate that Linde plc will post 15.51 earnings per share for the current fiscal year.

Linde Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Tuesday, June 4th. Linde’s dividend payout ratio is presently 43.13%.

About Linde

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.