Cornerstone Wealth Group LLC Has $226,000 Stock Holdings in Linde plc (NASDAQ:LIN)

Cornerstone Wealth Group LLC grew its holdings in Linde plc (NASDAQ:LIN) by 13.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 515 shares of the basic materials company’s stock after buying an additional 63 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Linde were worth $226,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LIN. Retirement Group LLC bought a new position in Linde in the first quarter valued at about $25,000. First Pacific Financial bought a new position in Linde in the first quarter valued at about $30,000. Scarborough Advisors LLC bought a new position in Linde in the fourth quarter valued at about $30,000. Johnson Financial Group Inc. boosted its holdings in Linde by 44.4% in the fourth quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 24 shares during the last quarter. Finally, Addison Advisors LLC boosted its holdings in Linde by 310.0% during the fourth quarter. Addison Advisors LLC now owns 82 shares of the basic materials company’s stock worth $34,000 after buying an additional 62 shares during the last quarter. Institutional investors own 82.80% of the company’s stock.

Analyst Ratings Changes

LIN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. HSBC reduced their target price on Linde from $458.00 to $452.00 and set a “buy” rating on the stock in a report on Monday, May 6th. Barclays raised their target price on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Mizuho raised their target price on Linde from $510.00 to $512.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Bank of America raised their target price on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $484.18.

Linde Stock Up 0.9 %

Linde stock traded up $4.03 during midday trading on Friday, reaching $465.74. The stock had a trading volume of 1,307,962 shares, compared to its average volume of 1,919,406. The firm’s fifty day simple moving average is $445.11 and its 200-day simple moving average is $444.40. Linde plc has a 1-year low of $361.02 and a 1-year high of $477.71. The stock has a market capitalization of $222.39 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 2.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95.

Linde (NASDAQ:LIN) last announced its earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.06. Linde had a return on equity of 17.92% and a net margin of 19.49%. The business had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter last year, the firm earned $3.57 EPS. Linde’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts expect that Linde plc will post 15.54 EPS for the current fiscal year.

Linde Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, September 4th. Linde’s dividend payout ratio is presently 43.13%.

About Linde

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.