Linde plc (NASDAQ:LIN) Shares Sold by Massachusetts Financial Services Co. MA

by · The Markets Daily

Massachusetts Financial Services Co. MA lowered its stake in Linde plc (NASDAQ:LIN – Free Report) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,578,751 shares of the basic materials company’s stock after selling 778,790 shares during the quarter. Linde accounts for approximately 1.2% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 10th largest position. Massachusetts Financial Services Co. MA owned approximately 1.80% of Linde worth $4,090,863,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. King Luther Capital Management Corp increased its holdings in shares of Linde by 13.2% during the third quarter. King Luther Capital Management Corp now owns 495,244 shares of the basic materials company’s stock valued at $236,162,000 after acquiring an additional 57,942 shares in the last quarter. Cornerstone Advisors LLC grew its position in Linde by 26.3% in the 3rd quarter. Cornerstone Advisors LLC now owns 14,900 shares of the basic materials company’s stock valued at $7,105,000 after purchasing an additional 3,100 shares during the period. EverSource Wealth Advisors LLC increased its stake in Linde by 4.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,278 shares of the basic materials company’s stock valued at $1,563,000 after purchasing an additional 144 shares in the last quarter. Portfolio Design Labs LLC raised its holdings in Linde by 364.0% during the third quarter. Portfolio Design Labs LLC now owns 5,202 shares of the basic materials company’s stock worth $2,481,000 after buying an additional 4,081 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of Linde by 21.5% in the third quarter. Advisors Asset Management Inc. now owns 21,606 shares of the basic materials company’s stock valued at $10,303,000 after buying an additional 3,824 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Linde Trading Up 1.4 %

NASDAQ:LIN opened at $450.14 on Thursday. Linde plc has a 12 month low of $396.07 and a 12 month high of $487.49. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $469.10 and its 200 day moving average is $453.12. The stock has a market capitalization of $214.34 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 2.84 and a beta of 0.94.

Linde (NASDAQ:LIN – Get Free Report) last issued its earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.05. The firm had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.39 billion. Linde had a return on equity of 18.16% and a net margin of 19.33%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.63 earnings per share. Sell-side analysts expect that Linde plc will post 15.48 earnings per share for the current year.

Linde Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $1.39 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $5.56 dividend on an annualized basis and a yield of 1.24%. Linde’s dividend payout ratio is presently 42.22%.

Insider Transactions at Linde

In other news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total value of $4,639,068.75. Following the completion of the transaction, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. This trade represents a 36.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on LIN shares. JPMorgan Chase & Co. boosted their target price on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Erste Group Bank restated a “hold” rating on shares of Linde in a report on Tuesday. Bank of America increased their price target on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Mizuho raised their price objective on Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Linde currently has a consensus rating of “Moderate Buy” and a consensus target price of $490.75.

View Our Latest Stock Analysis on LIN

Linde Company Profile

(Free Report)

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.

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