Linde plc (NASDAQ:LIN) Shares Purchased by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lifted its position in shares of Linde plc (NASDAQ:LIN) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,799 shares of the basic materials company’s stock after buying an additional 270 shares during the period. Miracle Mile Advisors LLC’s holdings in Linde were worth $3,422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scissortail Wealth Management LLC purchased a new stake in shares of Linde during the 4th quarter valued at about $535,000. Duncker Streett & Co. Inc. grew its holdings in Linde by 34.6% during the 4th quarter. Duncker Streett & Co. Inc. now owns 1,168 shares of the basic materials company’s stock valued at $480,000 after purchasing an additional 300 shares in the last quarter. Oakworth Capital Inc. increased its stake in Linde by 24.3% during the 4th quarter. Oakworth Capital Inc. now owns 189 shares of the basic materials company’s stock worth $78,000 after buying an additional 37 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Linde by 12.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 58,430 shares of the basic materials company’s stock worth $23,998,000 after buying an additional 6,676 shares in the last quarter. Finally, Tranquility Partners LLC purchased a new position in Linde in the 4th quarter valued at about $206,000. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LIN shares. BMO Capital Markets lifted their target price on Linde from $475.00 to $477.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 6th. UBS Group cut their target price on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Barclays raised their price target on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. HSBC cut their price objective on Linde from $458.00 to $452.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Finally, Citigroup lifted their price target on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $484.18.

Linde Price Performance

Shares of Linde stock traded up $0.68 on Friday, hitting $456.82. The company had a trading volume of 1,115,354 shares, compared to its average volume of 1,945,987. Linde plc has a 52 week low of $361.02 and a 52 week high of $477.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. The company has a market cap of $219.58 billion, a PE ratio of 35.44, a PEG ratio of 2.80 and a beta of 0.94. The business has a 50-day simple moving average of $442.56 and a 200-day simple moving average of $442.48.

Linde (NASDAQ:LIN) last announced its earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.06. The business had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $3.57 earnings per share. Research analysts expect that Linde plc will post 15.54 EPS for the current fiscal year.

Linde Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $1.39 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.56 annualized dividend and a yield of 1.22%. Linde’s dividend payout ratio (DPR) is presently 43.13%.

Linde Company 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.