AMF Tjanstepension AB grew its position in Linde plc (NYSE:LIN – Free Report) by 69.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 443,162 shares of the basic materials company’s stock after buying an additional 182,089 shares during the period. Linde accounts for approximately 1.6% of AMF Tjanstepension AB’s investment portfolio, making the stock its 16th largest position. AMF Tjanstepension AB owned 0.09% of Linde worth $168,880,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Strengthening Families & Communities LLC grew its stake in shares of Linde by 51.9% in the 1st quarter. Strengthening Families & Communities LLC now owns 82 shares of the basic materials company’s stock valued at $29,000 after buying an additional 28 shares during the period. PFG Advisors boosted its position in shares of Linde by 1.2% during the 1st quarter. PFG Advisors now owns 2,499 shares of the basic materials company’s stock worth $888,000 after purchasing an additional 29 shares during the period. BerganKDV Wealth Management LLC boosted its position in shares of Linde by 10.4% during the 1st quarter. BerganKDV Wealth Management LLC now owns 308 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 29 shares during the period. Jackson Grant Investment Advisers Inc. boosted its position in shares of Linde by 17.2% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 198 shares of the basic materials company’s stock worth $70,000 after purchasing an additional 29 shares during the period. Finally, Glassman Wealth Services lifted its holdings in Linde by 4.0% during the 1st quarter. Glassman Wealth Services now owns 763 shares of the basic materials company’s stock worth $271,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 80.98% of the company’s stock.
Linde Trading Up 0.4 %
Shares of Linde stock opened at $386.52 on Thursday. The company has a market capitalization of $188.60 billion, a P/E ratio of 33.61, a PEG ratio of 2.63 and a beta of 0.85. The company’s fifty day moving average is $381.18 and its two-hundred day moving average is $367.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.64 and a current ratio of 0.78. Linde plc has a 1 year low of $262.47 and a 1 year high of $393.67.
Linde (NYSE:LIN – Get Free Report) last issued its earnings results on Thursday, July 27th. The basic materials company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.10. Linde had a net margin of 17.20% and a return on equity of 16.17%. The business had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the previous year, the firm earned $3.10 earnings per share. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. Analysts forecast that Linde plc will post 14.03 earnings per share for the current year.
Linde Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, September 5th will be paid a $1.275 dividend. This represents a $5.10 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, September 1st. Linde’s dividend payout ratio (DPR) is 44.50%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Linde from $400.00 to $450.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. Morgan Stanley reiterated an “overweight” rating and set a $420.00 target price on shares of Linde in a report on Tuesday, August 1st. Citigroup initiated coverage on shares of Linde in a report on Tuesday, June 13th. They issued a “buy” rating and a $430.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Linde from $420.00 to $444.00 and gave the company an “overweight” rating in a report on Friday, July 28th. Finally, BMO Capital Markets raised their price objective on shares of Linde from $400.00 to $418.00 in a report on Monday, July 31st. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $404.41.
Get Our Latest Research Report on Linde
Insider Activity at Linde
In related news, VP Guillermo Bichara sold 12,484 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $386.53, for a total value of $4,825,440.52. Following the completion of the sale, the vice president now owns 27,161 shares in the company, valued at $10,498,541.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Linde news, Director Stephen F. Angel sold 39,695 shares of Linde stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $391.62, for a total transaction of $15,545,355.90. Following the completion of the transaction, the director now owns 369,611 shares in the company, valued at $144,747,059.82. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Guillermo Bichara sold 12,484 shares of Linde stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $386.53, for a total transaction of $4,825,440.52. Following the transaction, the vice president now owns 27,161 shares of the company’s stock, valued at approximately $10,498,541.33. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Linde Company Profile
Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia 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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