Retirement Systems of Alabama Lowers Stock Holdings in Linde plc (NASDAQ:LIN)

Retirement Systems of Alabama cut its stake in shares of Linde plc (NASDAQ:LIN) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,092 shares of the basic materials company’s stock after selling 2,179 shares during the period. Retirement Systems of Alabama’s holdings in Linde were worth $43,162,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new position in Linde during the 4th quarter worth approximately $25,000. Kozak & Associates Inc. acquired a new position in Linde during the third quarter worth $34,000. Global Wealth Strategies & Associates grew its holdings in Linde by 144.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 71 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 42 shares during the period. Retirement Wealth Solutions LLC purchased a new position in Linde in the fourth quarter worth $34,000. Finally, Capital Performance Advisors LLP acquired a new stake in Linde in the third quarter valued at $43,000. 82.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on LIN shares. 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. Erste Group Bank reissued a “hold” rating on shares of Linde in a research note on Tuesday, November 19th. BMO Capital Markets upped their price target on shares of Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup dropped their price objective on shares of Linde from $490.00 to $480.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, TD Cowen raised Linde from a “hold” rating to a “buy” rating and raised their price target for the stock from $480.00 to $515.00 in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $501.82.

Linde Price Performance

LIN opened at $454.80 on Wednesday. Linde plc has a 1 year low of $396.07 and a 1 year high of $487.49. The company’s 50 day simple moving average is $434.51 and its 200 day simple moving average is $453.37. The stock has a market capitalization of $216.56 billion, a PE ratio of 34.53, a P/E/G ratio of 2.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96.

Insider Buying and Selling at Linde

In related news, VP David P. Strauss sold 2,218 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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 approximately $11,260,958.10. This represents a 7.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Guillermo Bichara sold 4,385 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $460.73, for a total value of $2,020,301.05. Following the transaction, the vice president now owns 22,776 shares in the company, valued at approximately $10,493,586.48. This represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

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.