Naviter Wealth LLC Has $2.83 Million Stake in Linde plc (NASDAQ:LIN)

Naviter Wealth LLC grew its holdings in shares of Linde plc (NASDAQ:LIN) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,100 shares of the basic materials company’s stock after acquiring an additional 246 shares during the period. Naviter Wealth LLC’s holdings in Linde were worth $2,832,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Scarborough Advisors LLC acquired a new stake in Linde in the fourth quarter worth $30,000. Johnson Financial Group Inc. increased its position in Linde by 44.4% in the 4th quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock valued at $32,000 after buying an additional 24 shares in the last quarter. Addison Advisors LLC raised its stake in Linde by 310.0% during the 4th 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 period. Hexagon Capital Partners LLC boosted its holdings in Linde by 347.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 94 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 73 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in Linde in the fourth quarter valued at approximately $39,000. 82.80% of the stock is owned by institutional investors.

Linde Price Performance

Linde stock traded up $1.15 during midday trading on Tuesday, reaching $430.09. 1,886,357 shares of the stock were exchanged, compared to its average volume of 2,068,770. The company’s fifty day moving average is $435.35 and its 200-day moving average is $434.22. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 0.91. Linde plc has a 52 week low of $358.37 and a 52 week high of $477.71. The firm has a market cap of $206.74 billion, a PE ratio of 33.37, a PEG ratio of 2.75 and a beta of 0.94.

Linde (NASDAQ:LIN) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.68 by $0.07. Linde had a return on equity of 17.49% and a net margin of 19.26%. The business had revenue of $8.10 billion for the quarter, compared to analyst estimates of $8.38 billion. During the same period in the prior year, the company earned $3.42 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that Linde plc will post 15.51 EPS for the current year.

Linde Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Tuesday, June 4th. Linde’s payout ratio is currently 43.13%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LIN. BMO Capital Markets lowered their target price on shares of Linde from $510.00 to $475.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Mizuho lifted their target price on Linde from $510.00 to $512.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Wells Fargo & Company increased their price target on Linde from $480.00 to $540.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. UBS Group downgraded shares of Linde from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $482.00 to $510.00 in a report on Wednesday, March 27th. Finally, HSBC reduced their target price on shares of Linde from $458.00 to $452.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $468.83.

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.