Prossimo Advisors LLC Raises Stake in Linde plc (NASDAQ:LIN)

Prossimo Advisors LLC increased its stake in shares of Linde plc (NASDAQ:LIN) by 2.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,464 shares of the basic materials company’s stock after purchasing an additional 33 shares during the period. Prossimo Advisors LLC’s holdings in Linde were worth $698,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI raised its holdings in shares of Linde by 46.9% in the 1st quarter. National Bank of Canada FI now owns 48,211 shares of the basic materials company’s stock valued at $20,593,000 after acquiring an additional 15,393 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Linde by 40.7% in the 1st quarter. Vident Advisory LLC now owns 8,075 shares of the basic materials company’s stock valued at $3,750,000 after acquiring an additional 2,337 shares in the last quarter. Choate Investment Advisors raised its holdings in shares of Linde by 23.6% in the 1st quarter. Choate Investment Advisors now owns 18,017 shares of the basic materials company’s stock valued at $8,366,000 after acquiring an additional 3,437 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Linde by 4.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,975 shares of the basic materials company’s stock valued at $26,215,000 after acquiring an additional 2,312 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Linde by 28.7% in the 1st quarter. Tidal Investments LLC now owns 20,071 shares of the basic materials company’s stock valued at $9,319,000 after acquiring an additional 4,479 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Insider Transactions at Linde

In other news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total value of $4,639,068.75. Following the completion of the sale, the vice president now directly owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

LIN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Linde from $510.00 to $515.00 and gave the company a “buy” rating in a report on Friday. Barclays raised their price target on Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Citigroup raised their price objective on Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Bank of America raised their price objective on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, BMO Capital Markets raised their price objective on Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Linde has a consensus rating of “Moderate Buy” and an average target price of $490.75.

Linde Trading Up 0.3 %

Shares of LIN opened at $457.31 on Friday. The stock has a market capitalization of $218.37 billion, a P/E ratio of 34.72, a PEG ratio of 2.89 and a beta of 0.94. The company has a quick ratio of 0.80, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. The firm has a fifty day simple moving average of $472.87 and a two-hundred day simple moving average of $451.86. Linde plc has a twelve month low of $385.12 and a twelve month high of $487.49.

Linde (NASDAQ:LIN) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.05. The business had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Linde had a net margin of 19.33% and a return on equity of 18.16%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.63 EPS. On average, research analysts anticipate that Linde plc will post 15.52 EPS for the current year.

Linde Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a $1.39 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $5.56 annualized dividend and a dividend yield of 1.22%. Linde’s dividend payout ratio is 42.22%.

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.