Naviter Wealth LLC Grows Stock Position in Linde plc (NASDAQ:LIN)

Naviter Wealth LLC boosted its holdings in Linde plc (NASDAQ:LIN) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,778 shares of the basic materials company’s stock after buying an additional 214 shares during the period. Naviter Wealth LLC’s holdings in Linde were worth $3,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in Linde during the fourth quarter worth approximately $30,000. Fisher Asset Management LLC raised its position in shares of Linde by 28.0% in the 4th quarter. Fisher Asset Management LLC now owns 1,318 shares of the basic materials company’s stock worth $541,000 after buying an additional 288 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Linde by 2.6% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,202 shares of the basic materials company’s stock valued at $558,000 after acquiring an additional 30 shares during the last quarter. Farmers Trust Co. acquired a new position in Linde in the first quarter valued at $241,000. Finally, Foster Group Inc. purchased a new stake in Linde during the first quarter valued at about $268,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LIN. Barclays raised their price objective on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. UBS Group decreased their price objective 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. JPMorgan Chase & Co. raised their target price on shares of Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Citigroup raised their price target on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Finally, Bank of America lifted their price target on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $484.18.

Insider Buying and Selling

In other news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the sale, the vice president now owns 17,584 shares in the company, valued at $8,136,996. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Linde Price Performance

NASDAQ:LIN traded up $1.55 during midday trading on Thursday, hitting $485.53. 107,335 shares of the stock were exchanged, compared to its average volume of 1,830,828. Linde plc has a one year low of $361.02 and a one year high of $487.49. 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 business has a 50-day moving average price of $468.07 and a two-hundred day moving average price of $450.25. The company has a market capitalization of $233.38 billion, a price-to-earnings ratio of 37.55, a P/E/G ratio of 2.94 and a beta of 0.94.

Linde (NASDAQ:LIN) last issued 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 during the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the prior year, the company earned $3.57 EPS. Linde’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that Linde plc will post 15.54 EPS for the current year.

Linde Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s dividend payout ratio is presently 43.13%.

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.