Linde plc (NASDAQ:LIN) Holdings Cut by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lowered its holdings in Linde plc (NASDAQ:LIN) by 3.2% during the third quarter, HoldingsChannel.com reports. The fund owned 6,894 shares of the basic materials company’s stock after selling 227 shares during the period. Linde accounts for about 0.9% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 13th biggest position. Legacy Wealth Asset Management LLC’s holdings in Linde were worth $3,287,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Linde by 0.9% in the first quarter. Vanguard Group Inc. now owns 44,676,156 shares of the basic materials company’s stock worth $20,744,033,000 after acquiring an additional 405,952 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Linde by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 3,449,218 shares of the basic materials company’s stock valued at $1,513,551,000 after purchasing an additional 15,187 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Linde by 7.6% in 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 purchasing an additional 218,746 shares during the period. Clearbridge Investments LLC increased its stake in shares of Linde by 8.7% in the second quarter. Clearbridge Investments LLC now owns 1,993,820 shares of the basic materials company’s stock valued at $874,908,000 after purchasing an additional 160,355 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Linde by 1.2% in the first quarter. Janus Henderson Group PLC now owns 1,953,147 shares of the basic materials company’s stock valued at $906,730,000 after purchasing an additional 23,155 shares during the period. Institutional investors own 82.80% of the company’s stock.

Analyst Upgrades and Downgrades

LIN has been the topic of several analyst reports. UBS Group dropped their price target on shares of Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Citigroup boosted their target price on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. BMO Capital Markets reissued an “outperform” rating and set a $477.00 target price on shares of Linde in a report on Friday, August 30th. Bank of America boosted 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. Finally, JPMorgan Chase & Co. boosted 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. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $484.18.

Insider Activity

In other news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares in the company, valued at $8,136,996. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by corporate insiders.

Linde Trading Down 0.1 %

NASDAQ LIN opened at $473.76 on Friday. The firm’s 50 day moving average price is $472.24 and its two-hundred day moving average price is $451.24. 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 plc has a twelve month low of $366.12 and a twelve month high of $487.49. The stock has a market cap of $226.22 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 3.05 and a beta of 0.94.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, beating the consensus estimate of $3.79 by $0.06. Linde had a net margin of 19.49% and a return on equity of 17.92%. The business had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.30 billion. During the same period in the previous year, the company posted $3.57 EPS. Linde’s revenue was up 1.2% on a year-over-year basis. Equities analysts anticipate that Linde plc will post 15.52 EPS for the current year.

Linde Announces Dividend

The business 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. This represents a $5.56 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s dividend payout ratio is currently 42.31%.

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.