Vinva Investment Management Ltd grew its stake in Linde PLC (NASDAQ:LIN – Free Report) by 38.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,267 shares of the basic materials company’s stock after purchasing an additional 8,481 shares during the period. Vinva Investment Management Ltd’s holdings in Linde were worth $14,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in LIN. Darwin Wealth Management LLC acquired a new position in Linde during the second quarter worth $25,000. Marquette Asset Management LLC acquired a new stake in shares of Linde in the 3rd quarter worth $27,000. YANKCOM Partnership increased its stake in shares of Linde by 195.2% in the 3rd quarter. YANKCOM Partnership now owns 62 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 41 shares during the last quarter. Guerra Advisors Inc purchased a new position in shares of Linde during the 3rd quarter worth $30,000. Finally, Caitlin John LLC purchased a new position in shares of Linde during the 3rd quarter worth $32,000. Institutional investors and hedge funds own 82.80% of the company’s stock.
Linde Stock Performance
NASDAQ LIN opened at $484.74 on Friday. The stock has a market cap of $224.62 billion, a PE ratio of 33.22, a P/E/G ratio of 3.18 and a beta of 0.82. The company has a current ratio of 0.88, a quick ratio of 0.74 and a debt-to-equity ratio of 0.52. Linde PLC has a twelve month low of $387.78 and a twelve month high of $510.65. The stock has a fifty day simple moving average of $461.82 and a 200-day simple moving average of $450.11.
Linde Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be paid a $1.60 dividend. This is a positive change from Linde’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Linde’s payout ratio is presently 41.12%.
Insider Activity at Linde
In other news, VP Guillermo Bichara sold 9,455 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $480.45, for a total value of $4,542,654.75. Following the transaction, the vice president directly owned 22,138 shares in the company, valued at approximately $10,636,202.10. This represents a 29.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada dropped their price objective on shares of Linde from $540.00 to $490.00 and set an “outperform” rating for the company in a report on Friday, December 12th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $455.00 target price on shares of Linde in a research note on Friday, February 6th. CICC Research started coverage on shares of Linde in a report on Wednesday, December 3rd. They issued an “outperform” rating and a $510.00 target price on the stock. Weiss Ratings raised shares of Linde from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. Finally, Mizuho set a $525.00 price target on shares of Linde in a report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $508.20.
Check Out Our Latest Stock Analysis on LIN
Linde Profile
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.
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