Linde plc (NYSE:LIN) Stock Holdings Boosted by Cumberland Partners Ltd

Cumberland Partners Ltd raised its position in shares of Linde plc (NYSE:LINGet Rating) by 4,795.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,649 shares of the basic materials company’s stock after purchasing an additional 66,267 shares during the quarter. Linde comprises 1.6% of Cumberland Partners Ltd’s portfolio, making the stock its 20th largest holding. Cumberland Partners Ltd’s holdings in Linde were worth $21,609,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Linde by 1.9% during the 4th quarter. BlackRock Inc. now owns 24,310,993 shares of the basic materials company’s stock valued at $8,422,058,000 after acquiring an additional 450,203 shares during the last quarter. State Street Corp lifted its position in shares of Linde by 0.8% during the 4th quarter. State Street Corp now owns 20,502,349 shares of the basic materials company’s stock valued at $7,102,629,000 after acquiring an additional 159,464 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Linde by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 8,167,370 shares of the basic materials company’s stock valued at $2,821,287,000 after acquiring an additional 115,189 shares during the last quarter. Capital International Investors lifted its position in shares of Linde by 51.0% during the 4th quarter. Capital International Investors now owns 7,835,794 shares of the basic materials company’s stock valued at $2,714,440,000 after acquiring an additional 2,646,192 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of Linde by 22.7% during the 4th quarter. Capital World Investors now owns 7,657,766 shares of the basic materials company’s stock valued at $2,654,399,000 after acquiring an additional 1,416,567 shares during the last quarter. Institutional investors and hedge funds own 72.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on LIN. UBS Group increased their price objective on Linde from €325.00 ($331.63) to €350.00 ($357.14) in a research report on Wednesday, August 10th. AlphaValue upgraded Linde to a “reduce” rating in a report on Tuesday, May 3rd. Bank of America reduced their target price on Linde from $370.00 to $369.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Stifel Nicolaus upgraded Linde from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Evercore ISI upgraded Linde from an “in-line” rating to an “outperform” rating and set a $355.00 target price for the company in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $367.60.

Linde Stock Down 1.5 %

Linde stock traded down $4.64 during mid-day trading on Wednesday, hitting $307.65. 12,226 shares of the company’s stock were exchanged, compared to its average volume of 1,495,638. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. The stock has a market cap of $153.32 billion, a P/E ratio of 44.62, a P/E/G ratio of 2.62 and a beta of 0.87. Linde plc has a 1-year low of $265.12 and a 1-year high of $352.18. The stock has a 50 day moving average of $293.28 and a two-hundred day moving average of $303.75.

Linde (NYSE:LINGet Rating) last posted its earnings results on Thursday, July 28th. The basic materials company reported $3.10 EPS for the quarter, topping the consensus estimate of $2.99 by $0.11. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.39 billion. Linde had a net margin of 10.88% and a return on equity of 13.41%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.70 earnings per share. As a group, analysts anticipate that Linde plc will post 11.9 EPS for the current fiscal year.

Linde Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be given a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Thursday, September 1st. Linde’s dividend payout ratio is currently 67.83%.

About Linde

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Linde plc operates as an industrial gas and engineering 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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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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