Mediolanum International Funds Ltd Sells 3,192 Shares of Linde plc (NASDAQ:LIN)

Mediolanum International Funds Ltd trimmed its holdings in Linde plc (NASDAQ:LIN) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,017 shares of the basic materials company’s stock after selling 3,192 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Linde were worth $29,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LIN. National Bank of Canada FI raised its stake in shares of Linde by 46.9% in the first quarter. National Bank of Canada FI now owns 48,211 shares of the basic materials company’s stock valued at $20,593,000 after purchasing an additional 15,393 shares in the last quarter. Vident Advisory LLC raised its stake in Linde by 40.7% during the first quarter. Vident Advisory LLC now owns 8,075 shares of the basic materials company’s stock worth $3,750,000 after acquiring an additional 2,337 shares in the last quarter. Choate Investment Advisors raised its stake in Linde by 23.6% during the first quarter. Choate Investment Advisors now owns 18,017 shares of the basic materials company’s stock worth $8,366,000 after acquiring an additional 3,437 shares in the last quarter. Norden Group LLC acquired a new position in Linde during the first quarter worth $5,041,000. Finally, Tidal Investments LLC raised its stake in Linde by 28.7% during the first quarter. Tidal Investments LLC now owns 20,071 shares of the basic materials company’s stock worth $9,319,000 after acquiring an additional 4,479 shares in the last quarter. 82.80% of the stock is owned by institutional investors.

Linde Stock Up 0.8 %

Linde stock traded up $3.78 during midday trading on Friday, reaching $478.24. The stock had a trading volume of 185,248 shares, compared to its average volume of 1,813,680. The firm’s fifty day simple moving average is $471.54 and its 200-day simple moving average is $450.99. The stock has a market capitalization of $228.36 billion, a P/E ratio of 36.11, a price-to-earnings-growth ratio of 3.05 and a beta of 0.94. Linde plc has a 1-year low of $366.12 and a 1-year high of $487.49. 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 released its earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.06. The firm had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.57 EPS. As a group, analysts expect that Linde plc will post 15.52 EPS for the current fiscal year.

Linde Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a dividend of $1.39 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.16%. Linde’s dividend payout ratio (DPR) is currently 42.31%.

Insider Transactions at Linde

In other news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the completion of the transaction, the vice president now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LIN. Bank of America increased their price objective on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets restated an “outperform” rating and issued a $477.00 target price on shares of Linde in a research note on Friday, August 30th. UBS Group lowered their target price on Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Citigroup raised their target price on Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. raised their target price on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Linde presently has an average rating of “Moderate Buy” and an average target price 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.