WCM Investment Management LLC Sells 94,354 Shares of Linde plc (NASDAQ:LIN)

WCM Investment Management LLC trimmed its position in shares of Linde plc (NASDAQ:LIN) by 2.8% during the fourth quarter, HoldingsChannel reports. The fund owned 3,329,891 shares of the basic materials company’s stock after selling 94,354 shares during the quarter. Linde comprises 3.3% of WCM Investment Management LLC’s holdings, making the stock its 7th biggest position. WCM Investment Management LLC’s holdings in Linde were worth $1,390,762,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in Linde during the fourth quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new position in Linde during the fourth quarter worth about $28,000. Global Wealth Strategies & Associates grew its position in Linde by 144.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 71 shares of the basic materials company’s stock worth $30,000 after buying an additional 42 shares during the period. Kozak & Associates Inc. acquired a new position in Linde during the third quarter worth about $34,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Linde in the fourth quarter valued at approximately $34,000. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LIN has been the topic of several research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Linde from $510.00 to $515.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Cowen upgraded shares of Linde from a “hold” rating to a “buy” rating and increased their price target for the company from $480.00 to $515.00 in a research report on Monday, January 13th. Citigroup lowered their price target on shares of Linde from $490.00 to $480.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 18th. BMO Capital Markets upped their price objective on shares of Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Erste Group Bank reissued a “hold” rating on shares of Linde in a research note on Tuesday, November 19th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $501.82.

Linde Stock Performance

NASDAQ:LIN opened at $455.05 on Friday. Linde plc has a fifty-two week low of $410.69 and a fifty-two week high of $487.49. The firm’s 50 day moving average is $434.36 and its two-hundred day moving average is $453.55. The company has a market cap of $216.68 billion, a P/E ratio of 33.43, a P/E/G ratio of 2.89 and a beta of 0.94. The company has a quick ratio of 0.81, a current ratio of 0.89 and a debt-to-equity ratio of 0.39.

Linde (NASDAQ:LIN) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $3.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.93 by $0.04. Linde had a net margin of 19.89% and a return on equity of 18.71%. Analysts expect that Linde plc will post 16.55 EPS for the current year.

Insider Transactions at Linde

In related news, VP Guillermo Bichara sold 4,385 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $460.73, for a total transaction of $2,020,301.05. Following the completion of the sale, the vice president now directly owns 22,776 shares of the company’s stock, valued at approximately $10,493,586.48. This trade represents a 16.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David P. Strauss sold 2,218 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $434.35, for a total transaction of $963,388.30. Following the sale, the vice president now directly owns 25,926 shares of the company’s stock, valued at approximately $11,260,958.10. The trade was a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

About Linde

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.