1832 Asset Management L.P. Purchases 11,339 Shares of Linde plc (NASDAQ:LIN)

1832 Asset Management L.P. lifted its position in shares of Linde plc (NASDAQ:LIN) by 12.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,113 shares of the basic materials company’s stock after buying an additional 11,339 shares during the quarter. 1832 Asset Management L.P.’s holdings in Linde were worth $43,492,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Retirement Group LLC acquired a new stake in Linde during the 1st quarter worth about $25,000. Summit Securities Group LLC bought a new stake in Linde in the second quarter worth approximately $28,000. Scarborough Advisors LLC acquired a new position in Linde in the fourth quarter valued at approximately $30,000. Johnson Financial Group Inc. lifted its stake in Linde by 44.4% in the fourth 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 during the period. Finally, Strategic Financial Concepts LLC bought a new position in shares of Linde during the 2nd quarter worth approximately $33,000. Institutional investors own 82.80% of the company’s stock.

Linde Trading Up 0.6 %

Shares of Linde stock opened at $471.91 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $458.07 and a 200 day simple moving average of $449.20. Linde plc has a 12-month low of $361.02 and a 12-month high of $479.79. The company has a market capitalization of $226.84 billion, a P/E ratio of 36.61, a price-to-earnings-growth ratio of 2.97 and a beta of 0.94.

Linde (NASDAQ:LIN) 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 net margin of 19.49% and a return on equity of 17.92%. The company had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same period last year, the firm earned $3.57 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts anticipate 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 was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a $1.39 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.56 annualized dividend and a yield of 1.18%. Linde’s dividend payout ratio is currently 43.13%.

Analysts Set New Price Targets

LIN has been the subject of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $477.00 price objective on shares of Linde in a research note on Friday, August 30th. UBS Group decreased their price target on shares of Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Bank of America raised their target price on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Barclays upped their price target on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Citigroup raised their price objective on Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $484.18.

Insider Buying and Selling at Linde

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 transaction of $4,639,068.75. Following the sale, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.

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.