Drive Wealth Management LLC Invests $204,000 in Linde plc (NASDAQ:LIN)

Drive Wealth Management LLC acquired a new position in Linde plc (NASDAQ:LIN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 486 shares of the basic materials company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LIN. Kozak & Associates Inc. acquired a new position in shares of Linde during the third quarter worth approximately $34,000. Global Wealth Strategies & Associates increased its position in Linde by 144.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 71 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 42 shares during the period. Retirement Wealth Solutions LLC bought a new stake in Linde during the 4th quarter valued at $34,000. Capital Performance Advisors LLP acquired a new position in Linde during the 3rd quarter worth $43,000. Finally, Voisard Asset Management Group Inc. grew its stake in shares of Linde by 1,733.3% in the third quarter. Voisard Asset Management Group Inc. now owns 110 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 104 shares in the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Linde news, Director Paula Rosput Reynolds bought 100 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $441.34 per share, with a total value of $44,134.00. Following the purchase, the director now directly owns 233 shares in the company, valued at $102,832.22. The trade was a 75.19 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP David P. Strauss sold 2,218 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $434.35, for a total transaction of $963,388.30. Following the completion of the sale, the vice president now directly owns 25,926 shares of the company’s stock, valued at $11,260,958.10. This trade represents a 7.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Linde Price Performance

NASDAQ LIN opened at $439.49 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43. Linde plc has a 1 year low of $396.07 and a 1 year high of $487.49. The company has a market cap of $209.27 billion, a PE ratio of 33.37, a PEG ratio of 2.74 and a beta of 0.94. The stock’s 50-day moving average price is $435.45 and its two-hundred day moving average price is $453.33.

Linde (NASDAQ:LIN) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.05. Linde had a net margin of 19.33% and a return on equity of 18.16%. The business had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same quarter in the previous year, the business earned $3.63 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, analysts predict that Linde plc will post 15.45 EPS for the current year.

Wall Street Analyst Weigh In

LIN has been the topic of a number of recent analyst reports. Citigroup cut their price objective on shares of Linde from $490.00 to $480.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Erste Group Bank reaffirmed a “hold” rating on shares of Linde in a research note on Tuesday, November 19th. Mizuho raised their price objective on shares of Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their target price on Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lifted their price target on Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $501.82.

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.