Linde plc (NASDAQ:LIN) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in shares of Linde plc (NASDAQ:LIN) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 267,470 shares of the basic materials company’s stock after purchasing an additional 5,573 shares during the period. CIBC Asset Management Inc owned about 0.06% of Linde worth $127,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LIN. ING Groep NV boosted its position in Linde by 78.2% during the third quarter. ING Groep NV now owns 598,757 shares of the basic materials company’s stock worth $285,523,000 after purchasing an additional 262,691 shares in the last quarter. Lifeworks Advisors LLC boosted its stake in shares of Linde by 13.8% in the third quarter. Lifeworks Advisors LLC now owns 1,029 shares of the basic materials company’s stock worth $490,000 after acquiring an additional 125 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Linde by 4.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,625 shares of the basic materials company’s stock worth $8,882,000 after purchasing an additional 824 shares in the last quarter. Metis Global Partners LLC raised its stake in Linde by 0.6% in the 3rd quarter. Metis Global Partners LLC now owns 23,032 shares of the basic materials company’s stock valued at $10,983,000 after purchasing an additional 130 shares during the last quarter. Finally, Curi RMB Capital LLC lifted its holdings in Linde by 25.9% in the 3rd quarter. Curi RMB Capital LLC now owns 2,306 shares of the basic materials company’s stock valued at $1,100,000 after purchasing an additional 475 shares in the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LIN has been the subject of a number of analyst reports. Bank of America upped their price target on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Mizuho increased their price target 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Linde from $510.00 to $515.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Barclays lifted their target price on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $490.75.

Insider Activity

In related news, VP John Panikar sold 10,025 shares of the firm’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 value of $4,639,068.75. Following the sale, the vice president now directly owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. This trade represents a 36.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

Linde Stock Down 0.6 %

LIN opened at $453.49 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96. The company has a market cap of $215.93 billion, a price-to-earnings ratio of 34.43, a PEG ratio of 2.92 and a beta of 0.94. Linde plc has a one year low of $396.07 and a one year high of $487.49. The business’s fifty day moving average is $470.47 and its two-hundred day moving average is $452.61.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.05. The firm had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Linde had a net margin of 19.33% and a return on equity of 18.16%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.63 EPS. Analysts anticipate that Linde plc will post 15.48 EPS for the current fiscal year.

Linde Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be paid a $1.39 dividend. This represents a $5.56 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, December 3rd. Linde’s payout ratio is 42.22%.

Linde 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.