Terra Nova Asset Management LLC Decreases Stock Position in Linde plc (NASDAQ:LIN)

Terra Nova Asset Management LLC trimmed its position in Linde plc (NASDAQ:LIN) by 17.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,451 shares of the basic materials company’s stock after selling 313 shares during the quarter. Terra Nova Asset Management LLC’s holdings in Linde were worth $692,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Group LLC acquired a new position in shares of Linde in the 1st quarter valued at $25,000. Summit Securities Group LLC purchased a new stake in Linde during the 2nd quarter worth about $28,000. Scarborough Advisors LLC purchased a new position in shares of Linde in the 4th quarter valued at about $30,000. Strategic Financial Concepts LLC acquired a new stake in shares of Linde in the 2nd quarter valued at about $33,000. Finally, Valued Wealth Advisors LLC boosted its position in shares of Linde by 49.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 24 shares during the period. 82.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Linde news, VP John Panikar sold 10,025 shares of Linde stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total value of $4,639,068.75. Following the sale, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays raised their price target on Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Citigroup raised their price target on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. UBS Group reduced their target price on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Bank of America lifted their target price on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, BMO Capital Markets restated an “outperform” rating and set a $477.00 price objective on shares of Linde in a research note on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $484.18.

Linde Stock Performance

Shares of NASDAQ LIN traded up $0.21 during mid-day trading on Wednesday, hitting $480.92. The company had a trading volume of 189,489 shares, compared to its average volume of 1,834,441. Linde plc has a 12 month low of $361.02 and a 12 month high of $483.36. 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 firm has a market cap of $231.17 billion, a P/E ratio of 37.29, a PEG ratio of 2.94 and a beta of 0.94. The business’s 50-day simple moving average is $467.23 and its 200-day simple moving average is $450.01.

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

Linde Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a dividend of $1.39 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.16%. Linde’s payout ratio is 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.