Linde plc (NASDAQ:LIN) Stock Position Raised by M&T Bank Corp

M&T Bank Corp lifted its stake in shares of Linde plc (NASDAQ:LIN) by 6.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,472 shares of the basic materials company’s stock after purchasing an additional 5,021 shares during the period. M&T Bank Corp’s holdings in Linde were worth $37,898,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in Linde by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,449,218 shares of the basic materials company’s stock worth $1,513,551,000 after purchasing an additional 15,187 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Linde by 372.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,288,088 shares of the basic materials company’s stock worth $1,567,958,000 after buying an additional 2,592,682 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Linde by 7.6% during the second quarter. Canada Pension Plan Investment Board now owns 3,112,160 shares of the basic materials company’s stock valued at $1,365,647,000 after buying an additional 218,746 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Linde by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,015,882 shares of the basic materials company’s stock valued at $1,438,154,000 after buying an additional 50,882 shares during the period. Finally, Impax Asset Management Group plc lifted its stake in Linde by 2.4% in the 3rd quarter. Impax Asset Management Group plc now owns 2,374,339 shares of the basic materials company’s stock worth $1,130,986,000 after acquiring an additional 56,775 shares in the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

Linde Stock Down 1.5 %

LIN opened at $442.58 on Tuesday. The stock has a market capitalization of $210.74 billion, a price-to-earnings ratio of 33.61, a P/E/G ratio of 2.88 and a beta of 0.93. Linde plc has a 1-year low of $396.07 and a 1-year high of $487.49. The business has a 50 day moving average of $464.12 and a 200-day moving average of $455.40. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.89 by $0.05. The firm had revenue of $8.36 billion during 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%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.63 EPS. As a group, sell-side analysts anticipate that Linde plc will post 15.48 earnings per share for the current year.

Linde Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Tuesday, December 3rd. Linde’s dividend payout ratio (DPR) is 42.22%.

Insiders Place Their Bets

In other Linde news, VP Guillermo Bichara sold 4,385 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $460.73, for a total transaction of $2,020,301.05. Following the sale, the vice president now owns 22,776 shares of the company’s stock, valued at $10,493,586.48. This represents a 16.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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.