Linde plc (NASDAQ:LIN) Position Boosted by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group grew its holdings in Linde plc (NASDAQ:LIN) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,204 shares of the basic materials company’s stock after purchasing an additional 193 shares during the period. Rehmann Capital Advisory Group’s holdings in Linde were worth $2,503,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LIN. Summit Securities Group LLC acquired a new position in Linde in the 2nd quarter valued at approximately $28,000. Strategic Financial Concepts LLC acquired a new stake in Linde during the second quarter valued at $33,000. Kozak & Associates Inc. purchased a new position in Linde in the third quarter valued at about $34,000. J.Safra Asset Management Corp acquired a new position in Linde in the 2nd quarter worth about $42,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Linde during the 3rd quarter worth about $43,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

Linde Trading Up 0.5 %

Shares of LIN opened at $444.81 on Wednesday. The stock’s 50-day moving average price is $464.12 and its 200 day moving average price is $455.40. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $211.80 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 2.88 and a beta of 0.93. Linde plc has a 12-month low of $396.07 and a 12-month high of $487.49.

Linde (NASDAQ:LIN) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.05. The business had revenue of $8.36 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Linde had a return on equity of 18.16% and a net margin of 19.33%. Linde’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.63 earnings per share. As a group, research analysts predict that Linde plc will post 15.48 earnings per share for the current year.

Linde Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Tuesday, December 3rd. Linde’s payout ratio is 42.22%.

Insider Activity

In related news, VP Guillermo Bichara sold 4,385 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $460.73, for a total transaction of $2,020,301.05. Following the completion of the transaction, the vice president now owns 22,776 shares in the company, valued at $10,493,586.48. This trade represents a 16.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on LIN. BMO Capital Markets boosted their price target on Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Erste Group Bank restated a “hold” rating on shares of Linde in a research note on Tuesday, November 19th. Mizuho upped their price objective on shares of Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Linde from $510.00 to $515.00 and gave the company a “buy” rating in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $490.75.

Linde 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.