M&G Plc Raises Stock Position in Linde plc (NASDAQ:LIN)

M&G Plc increased its holdings in shares of Linde plc (NASDAQ:LIN) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,615 shares of the basic materials company’s stock after purchasing an additional 4,712 shares during the period. M&G Plc’s holdings in Linde were worth $90,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Consilium Wealth Advisory LLC increased its holdings in Linde by 2.4% in the third quarter. Consilium Wealth Advisory LLC now owns 2,254 shares of the basic materials company’s stock valued at $1,075,000 after buying an additional 52 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in Linde by 20.7% in the third quarter. Concurrent Investment Advisors LLC now owns 5,582 shares of the basic materials company’s stock valued at $2,662,000 after buying an additional 957 shares in the last quarter. Maia Wealth LLC purchased a new position in Linde in the third quarter valued at $208,000. Catalina Capital Group LLC increased its holdings in Linde by 14.0% in the third quarter. Catalina Capital Group LLC now owns 1,640 shares of the basic materials company’s stock valued at $782,000 after buying an additional 201 shares in the last quarter. Finally, Beacon Financial Advisory LLC purchased a new position in Linde in the third quarter valued at $204,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Insider Activity

In other news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total value of $4,639,068.75. Following the sale, the vice president now directly owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

LIN has been the subject of a number of recent analyst reports. Bank of America lifted their price objective on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. BMO Capital Markets lifted their price objective on shares of Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Barclays lifted their target price on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Mizuho lifted their target price on shares of Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $490.75.

Linde Stock Performance

NASDAQ:LIN opened at $462.63 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.81. The firm has a market capitalization of $220.29 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 2.94 and a beta of 0.94. The company’s 50-day moving average is $472.12 and its two-hundred day moving average is $452.12. Linde plc has a 1-year low of $385.12 and a 1-year high of $487.49.

Linde (NASDAQ:LIN) last posted its earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.05. The company had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.39 billion. Linde had a net margin of 19.33% and a return on equity of 18.16%. Linde’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.63 EPS. Analysts forecast that Linde plc will post 15.47 EPS for the current year.

Linde Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, December 3rd. Linde’s dividend payout ratio (DPR) is 42.22%.

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.