Point72 Asset Management L.P. Acquires New Stake in Linde PLC (NYSE:LIN)

Point72 Asset Management L.P. bought a new position in shares of Linde PLC (NYSE:LIN) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 70,965 shares of the basic materials company’s stock, valued at approximately $15,108,000.

Other large investors also recently made changes to their positions in the company. Simon Quick Advisors LLC lifted its stake in shares of Linde by 538.9% in the fourth quarter. Simon Quick Advisors LLC now owns 115 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 97 shares during the period. Solstein Capital LLC bought a new stake in shares of Linde in the 4th quarter valued at $27,000. Squar Milner Financial Services LLC boosted its stake in shares of Linde by 131.3% in the 4th quarter. Squar Milner Financial Services LLC now owns 148 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 84 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Linde in the 4th quarter valued at $36,000. Finally, Evoke Wealth LLC acquired a new stake in shares of Linde during the third quarter worth $39,000. 75.41% of the stock is owned by institutional investors and hedge funds.

In other Linde news, Director Franz Fehrenbach purchased 1,400 shares of Linde stock in a transaction that occurred on Tuesday, March 17th. The stock was acquired at an average price of $158.72 per share, with a total value of $222,208.00. Following the transaction, the director now owns 3,113 shares in the company, valued at approximately $494,095.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christian Bruch sold 336 shares of Linde stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $162.99, for a total transaction of $54,764.64. Following the completion of the sale, the vice president now directly owns 10,629 shares of the company’s stock, valued at approximately $1,732,420.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 6,400 shares of company stock worth $1,046,538. 0.70% of the stock is owned by company insiders.

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Linde from $218.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Bank of America upgraded Linde from an “underperform” rating to a “buy” rating in a report on Friday, March 13th. Pareto Securities raised Linde to a “hold” rating in a research report on Tuesday, December 10th. SunTrust Banks lifted their price objective on Linde from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Co dropped their price objective on Linde from $248.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, March 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Linde currently has an average rating of “Buy” and an average target price of $227.93.

LIN traded up $8.89 during midday trading on Thursday, hitting $174.19. The company had a trading volume of 2,725,978 shares, compared to its average volume of 2,734,659. Linde PLC has a 52 week low of $146.71 and a 52 week high of $227.85. The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $89.81 billion, a price-to-earnings ratio of 41.47, a PEG ratio of 1.84 and a beta of 0.75. The stock’s 50 day moving average price is $194.69 and its 200 day moving average price is $199.99.

Linde (NYSE:LIN) last released its quarterly earnings data on Thursday, February 13th. The basic materials company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.05. The company had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.95 billion. Linde had a net margin of 8.09% and a return on equity of 7.54%. During the same quarter in the prior year, the firm earned $1.46 EPS. Research analysts predict that Linde PLC will post 8.13 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a $0.963 dividend. This represents a $3.85 dividend on an annualized basis and a yield of 2.21%. This is a positive change from Linde’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Thursday, March 5th.

Linde Profile

Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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