MainStreet Investment Advisors LLC bought a new position in Linde PLC (NYSE:LIN) during the first quarter, Holdings Channel reports. The institutional investor bought 4,364 shares of the basic materials company’s stock, valued at approximately $755,000.
A number of other hedge funds and other institutional investors have also modified their holdings of LIN. Norges Bank bought a new position in Linde in the fourth quarter worth about $2,882,740,000. AKO Capital LLP lifted its holdings in Linde by 44.1% in the first quarter. AKO Capital LLP now owns 3,772,932 shares of the basic materials company’s stock worth $662,888,000 after acquiring an additional 1,154,087 shares during the last quarter. Stifel Financial Corp lifted its holdings in Linde by 67.4% in the fourth quarter. Stifel Financial Corp now owns 1,160,449 shares of the basic materials company’s stock worth $246,781,000 after acquiring an additional 467,156 shares during the last quarter. Swiss National Bank lifted its holdings in Linde by 21.7% in the first quarter. Swiss National Bank now owns 2,222,543 shares of the basic materials company’s stock worth $384,500,000 after acquiring an additional 396,700 shares during the last quarter. Finally, Madison Asset Management LLC bought a new position in Linde in the fourth quarter worth about $79,115,000. 75.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE LIN traded down $2.80 during mid-day trading on Friday, reaching $190.87. 1,675,961 shares of the company traded hands, compared to its average volume of 1,824,670. Linde PLC has a fifty-two week low of $146.71 and a fifty-two week high of $227.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.74 and a quick ratio of 0.63. The firm has a market cap of $101.71 billion, a PE ratio of 44.73, a price-to-earnings-growth ratio of 2.39 and a beta of 0.69. The stock has a fifty day simple moving average of $182.72 and a 200-day simple moving average of $197.03.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a $0.963 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $3.85 annualized dividend and a yield of 2.02%. Linde’s dividend payout ratio (DPR) is 52.45%.
A number of equities analysts have issued reports on LIN shares. Bank of America raised shares of Linde from an “underperform” rating to a “buy” rating in a report on Friday, March 13th. Deutsche Bank cut their target price on shares of Linde from $230.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wells Fargo & Co cut their price target on Linde from $248.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Berenberg Bank reaffirmed a “buy” rating on shares of Linde in a report on Wednesday, May 13th. Finally, Morgan Stanley cut their price target on Linde from $250.00 to $205.00 and set an “overweight” rating on the stock in a report on Monday, March 30th. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $212.82.
In other Linde news, CEO Stephen F. Angel purchased 3,000 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were purchased at an average price of $173.13 per share, for a total transaction of $519,390.00. Also, Director Franz Fehrenbach purchased 1,400 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average price of $158.72 per share, for a total transaction of $222,208.00. Following the transaction, the director now owns 3,113 shares of the company’s stock, valued at approximately $494,095.36. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 6,400 shares of company stock worth $1,046,538. 0.70% of the stock is currently owned by company insiders.
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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