Wealth Alliance Reduces Position in Linde plc (NASDAQ:LIN)

18 Sep 2024, 22:47 by Michael Walen · The Markets Daily

Wealth Alliance lowered its stake in shares of Linde plc (NASDAQ:LIN – Free Report) by 4.6% in the second quarter, Holdings Channel reports. The institutional investor owned 4,032 shares of the basic materials company’s stock after selling 193 shares during the period. Wealth Alliance’s holdings in Linde were worth $1,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Group LLC purchased a new stake in shares of Linde during the 1st quarter valued at $25,000. Summit Securities Group LLC purchased a new position in shares of Linde during the 2nd quarter valued at about $28,000. Scarborough Advisors LLC purchased a new position in shares of Linde during the 4th quarter valued at about $30,000. Valued Wealth Advisors LLC grew its position in shares of Linde by 49.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 24 shares during the period. Finally, Johnson Financial Group Inc. grew its position in shares of Linde by 44.4% during the 4th quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 24 shares during the period. Institutional investors own 82.80% of the company’s stock.

Insider Buying and Selling

In other news, VP John Panikar sold 10,025 shares of Linde stock in a transaction that occurred on 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 transaction, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

LIN has been the topic of several recent research reports. 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. BMO Capital Markets reissued an “outperform” rating and issued a $477.00 target price on shares of Linde in a research report on Friday, August 30th. JPMorgan Chase & Co. boosted their price target on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. UBS Group lowered their target price on shares of Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Barclays upped their price objective on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $484.18.

View Our Latest Research Report on Linde

Linde Stock Performance

Linde stock opened at $471.66 on Wednesday. The company has a market capitalization of $226.72 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 2.93 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. Linde plc has a 12-month low of $361.02 and a 12-month high of $479.79. The firm’s fifty day moving average price is $456.12 and its 200 day moving average price is $449.00.

Linde (NASDAQ:LIN – Get Free Report) 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. The business had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.30 billion. Linde had a net margin of 19.49% and a return on equity of 17.92%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.57 EPS. On average, research analysts forecast that Linde plc will post 15.54 EPS for the current fiscal year.

Linde Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a dividend of $1.39 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.18%. Linde’s dividend payout ratio (DPR) is 43.13%.

About Linde

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