Prestige Wealth Management Group LLC Sells 147 Shares of Linde plc (NASDAQ:LIN)

Prestige Wealth Management Group LLC decreased its stake in shares of Linde plc (NASDAQ:LIN) by 6.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,074 shares of the basic materials company’s stock after selling 147 shares during the period. Prestige Wealth Management Group LLC’s holdings in Linde were worth $910,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Retirement Group LLC acquired a new position in Linde in the first quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in Linde during the 2nd quarter valued at $28,000. First Pacific Financial bought a new position in Linde in the 1st quarter valued at $30,000. Scarborough Advisors LLC acquired a new position in Linde in the fourth quarter worth $30,000. Finally, Johnson Financial Group Inc. grew its holdings in shares of Linde by 44.4% during the fourth quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 24 shares during the last quarter. Institutional investors own 82.80% of the company’s stock.

Linde Stock Performance

LIN traded down $8.67 during trading hours on Friday, reaching $456.85. The company’s stock had a trading volume of 2,012,129 shares, compared to its average volume of 1,897,746. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95. The company’s 50-day moving average is $451.18 and its 200-day moving average is $447.95. Linde plc has a 52 week low of $361.02 and a 52 week high of $479.79. The firm has a market cap of $219.60 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94.

Linde (NASDAQ:LIN) last released its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the firm posted $3.57 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that Linde plc will post 15.54 EPS for the current year.

Linde Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $1.39 dividend. This represents a $5.56 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, September 4th. Linde’s dividend payout ratio (DPR) is currently 43.13%.

Analyst Upgrades and Downgrades

LIN has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Citigroup upped their price objective on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Bank of America lifted 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. BMO Capital Markets reaffirmed an “outperform” rating and set a $477.00 price target on shares of Linde in a research report on Friday, August 30th. Finally, Barclays raised their target price on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Linde currently has a consensus rating of “Moderate Buy” and an average price target of $484.18.

Linde Company 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.