Primecap Management Co. CA lessened its stake in shares of Linde PLC (NYSE:LIN) by 0.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,430,269 shares of the basic materials company’s stock after selling 1,100 shares during the quarter. Primecap Management Co. CA’s holdings in Linde were worth $251,627,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC purchased a new position in Linde during the first quarter worth about $29,000. Truvestments Capital LLC purchased a new position in Linde during the first quarter worth about $30,000. Harvest Group Wealth Management LLC purchased a new position in Linde during the first quarter worth about $31,000. Kings Point Capital Management purchased a new position in Linde during the fourth quarter worth about $31,000. Finally, Israel Discount Bank of New York purchased a new position in shares of Linde in the first quarter valued at approximately $35,000. 72.88% of the stock is owned by institutional investors.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Linde from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. ValuEngine lowered shares of Linde from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. SunTrust Banks raised their price objective on shares of Linde to $196.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. They noted that the move was a valuation call. Jefferies Financial Group raised their target price on shares of Linde from $205.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. They noted that the move was a valuation call. Finally, DZ Bank raised shares of Linde to a “buy” rating in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Linde currently has a consensus rating of “Buy” and a consensus target price of $199.14.
In other Linde news, Director Thomas Enders bought 6,600 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were acquired at an average cost of $172.16 per share, with a total value of $1,136,256.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen F. Angel sold 56,574 shares of Linde stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $197.27, for a total transaction of $11,160,352.98. The disclosure for this sale can be found here. Insiders sold a total of 141,556 shares of company stock worth $26,887,956 over the last ninety days. Corporate insiders own 0.23% of the company’s stock.
Shares of Linde stock traded down $0.67 during trading on Friday, reaching $202.07. The company’s stock had a trading volume of 605,858 shares, compared to its average volume of 1,853,400. The stock has a market capitalization of $109.90 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.18 and a beta of 0.72. Linde PLC has a fifty-two week low of $145.95 and a fifty-two week high of $203.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.35 and a quick ratio of 1.20.
Linde (NYSE:LIN) last announced its earnings results on Friday, May 10th. The basic materials company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.15. The business had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $7.03 billion. Linde had a net margin of 23.52% and a return on equity of 14.95%. Analysts anticipate that Linde PLC will post 6.93 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.875 dividend. The ex-dividend date is Friday, May 31st. This represents a $3.50 dividend on an annualized basis and a dividend yield of 1.73%.
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Linde Company 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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