Cibc World Markets Corp Sells 13,728 Shares of Linde plc (NYSE:LIN)

Cibc World Markets Corp lessened its stake in Linde plc (NYSE:LIN) by 27.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,119 shares of the basic materials company’s stock after selling 13,728 shares during the period. Cibc World Markets Corp’s holdings in Linde were worth $10,442,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Tortoise Investment Management LLC raised its position in Linde by 131.6% in the first quarter. Tortoise Investment Management LLC now owns 88 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 50 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in Linde in the first quarter worth about $27,000. Sageworth Trust Co acquired a new position in Linde in the first quarter worth about $28,000. Montag A & Associates Inc. raised its position in Linde by 115.4% in the first quarter. Montag A & Associates Inc. now owns 112 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 60 shares in the last quarter. Finally, HBC Financial Services PLLC acquired a new position in Linde in the first quarter worth about $36,000. 72.10% of the stock is owned by hedge funds and other institutional investors.

Shares of LIN opened at $311.94 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.71 and a debt-to-equity ratio of 0.21. Linde plc has a 12-month low of $214.14 and a 12-month high of $317.03. The firm has a market capitalization of $161.09 billion, a PE ratio of 50.07, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. The stock’s fifty day simple moving average is $304.46 and its 200-day simple moving average is $291.89.

Linde (NYSE:LIN) last issued its quarterly earnings results on Friday, July 30th. The basic materials company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.17. Linde had a return on equity of 10.54% and a net margin of 11.37%. The business had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.38 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. Analysts anticipate that Linde plc will post 10.44 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 17th. Stockholders of record on Friday, September 3rd will be paid a dividend of $1.06 per share. This represents a $4.24 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Thursday, September 2nd. Linde’s dividend payout ratio (DPR) is presently 51.52%.

LIN has been the subject of several recent research reports. Morgan Stanley reissued a “buy” rating on shares of Linde in a research report on Monday, September 6th. HSBC raised their price objective on shares of Linde from $272.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, June 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Linde from $345.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. Wolfe Research started coverage on shares of Linde in a report on Wednesday, June 9th. They set a “market perform” rating for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Linde from $350.00 to $356.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Linde presently has an average rating of “Buy” and an average target price of $335.23.

Linde Company Profile

Linde Plc engages in the production and distribution of industrial gases. It operates through the following segments: Americas; Europe, Middle East, and Africa (EMEA); Asia and South Pacific (APAC); Engineering; and Other. The America segment operates production facilities in the U.S., Canada, Mexico, and Brazil.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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