1858 Wealth Management LLC Raises Holdings in Linde plc (NASDAQ:LIN)

1858 Wealth Management LLC grew its holdings in Linde plc (NASDAQ:LIN) by 50.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 692 shares of the basic materials company’s stock after acquiring an additional 231 shares during the quarter. 1858 Wealth Management LLC’s holdings in Linde were worth $330,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Retirement Group LLC purchased a new position in shares of Linde in the 1st quarter valued at about $25,000. Summit Securities Group LLC purchased a new position in Linde during the 2nd quarter worth approximately $28,000. Kozak & Associates Inc. purchased a new position in Linde during the 3rd quarter worth approximately $34,000. Valued Wealth Advisors LLC grew its stake in Linde by 49.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock worth $34,000 after buying an additional 24 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in Linde during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Linde Price Performance

LIN stock traded down $3.41 during midday trading on Monday, hitting $483.04. 405,331 shares of the stock were exchanged, compared to its average volume of 1,825,719. The stock’s 50-day moving average price is $469.63 and its 200-day moving average price is $450.50. The stock has a market cap of $232.19 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 2.99 and a beta of 0.94. Linde plc has a fifty-two week low of $361.02 and a fifty-two week high of $487.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.06. The firm 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%. Linde’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $3.57 earnings per share. Research analysts predict that Linde plc will post 15.54 earnings per share for the current year.

Linde Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s payout ratio is 43.13%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LIN. Bank of America raised their price target on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup increased their price objective on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $477.00 price objective on shares of Linde in a research report on Friday, August 30th. JPMorgan Chase & Co. increased their price objective on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, UBS Group reduced their price target on Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Six investment 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $484.18.

Insiders Place Their Bets

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

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.