Linde PLC $LIN Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of Linde PLC (NASDAQ:LIN) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 885,128 shares of the basic materials company’s stock after selling 25,059 shares during the quarter. Envestnet Asset Management Inc. owned 0.19% of Linde worth $420,436,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Darwin Wealth Management LLC acquired a new stake in Linde during the 2nd quarter valued at $25,000. Marquette Asset Management LLC purchased a new stake in Linde in the 3rd quarter valued at about $27,000. YANKCOM Partnership grew its holdings in Linde by 195.2% in the third quarter. YANKCOM Partnership now owns 62 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 41 shares during the period. Guerra Advisors Inc purchased a new stake in Linde during the third quarter valued at about $30,000. Finally, Albion Financial Group UT grew its stake in Linde by 87.8% during the third quarter. Albion Financial Group UT now owns 77 shares of the basic materials company’s stock worth $37,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 82.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on LIN. Mizuho set a $495.00 target price on Linde in a report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Linde in a research note on Monday, December 29th. UBS Group restated a “buy” rating on shares of Linde in a research report on Friday, December 12th. CICC Research initiated coverage on shares of Linde in a research note on Wednesday, December 3rd. They set an “outperform” rating and a $510.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Linde from $475.00 to $455.00 and set an “overweight” rating for the company in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $501.75.

Linde Stock Performance

Shares of NASDAQ LIN opened at $473.33 on Thursday. The stock’s fifty day simple moving average is $429.29 and its 200 day simple moving average is $447.90. The stock has a market capitalization of $221.02 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 3.25 and a beta of 0.84. Linde PLC has a 52-week low of $387.78 and a 52-week high of $486.38. The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.46.

About Linde

Linde (NASDAQ: LIN) is a multinational industrial gases and engineering company that supplies gases, related technologies and services to a wide range of industries. The company traces its current form to the 2018 combination of Germany’s Linde AG and U.S.-based Praxair, creating one of the largest global providers of industrial, specialty and medical gases. Linde’s business model centers on production, processing and distribution of gases as well as the design and construction of the plants and equipment needed to produce them.

Core products and services include atmospheric and process gases such as oxygen, nitrogen and argon; hydrogen and helium; carbon dioxide; and a portfolio of higher‑value specialty and electronic gases.