Linde PLC $LIN Stock: MGO One Seven LLC Trims Holdings

MGO One Seven LLC cut its stake in Linde PLC (NASDAQ:LIN) by 35.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,593 shares of the basic materials company’s stock after selling 4,125 shares during the quarter. MGO One Seven LLC’s holdings in Linde were worth $3,604,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Flossbach Von Storch SE acquired a new position in shares of Linde during the second quarter valued at approximately $438,525,000. State Street Corp lifted its position in shares of Linde by 3.7% in the second quarter. State Street Corp now owns 20,344,181 shares of the basic materials company’s stock valued at $10,558,016,000 after acquiring an additional 719,052 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Linde by 162.9% in the first quarter. Hsbc Holdings PLC now owns 1,097,110 shares of the basic materials company’s stock worth $543,951,000 after acquiring an additional 679,738 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Linde by 394.8% in the first quarter. Renaissance Technologies LLC now owns 629,820 shares of the basic materials company’s stock worth $312,240,000 after acquiring an additional 502,520 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Linde by 2,320.1% in the first quarter. Bessemer Group Inc. now owns 464,011 shares of the basic materials company’s stock worth $230,038,000 after acquiring an additional 444,838 shares during the last quarter. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on LIN. Mizuho set a $583.00 target price on shares of Linde in a research note on Thursday. Sanford C. Bernstein reiterated an “outperform” rating on shares of Linde in a research report on Monday, October 5th. Bank of America raised their price target on shares of Linde from $532.00 to $550.00 and gave the stock a “neutral” rating in a research note on Friday, July 17th. Berenberg Bank restated a “buy” rating on shares of Linde in a research report on Tuesday, August 4th. Finally, UBS Group upped their price objective on shares of Linde from $574.00 to $585.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $553.05.

Linde Stock Performance

NASDAQ LIN opened at $519.72 on Tuesday. The stock’s fifty day moving average is $484.17 and its two-hundred day moving average is $492.74. The firm has a market capitalization of $239.58 billion, a P/E ratio of 34.53, a price-to-earnings-growth ratio of 2.96 and a beta of 0.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.75 and a current ratio of 0.88. Linde PLC has a fifty-two week low of $387.78 and a fifty-two week high of $548.20.

Linde (NASDAQ:LIN) last issued its earnings results on Thursday, October 29th. The basic materials company reported $4.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.07. Linde had a return on equity of 20.09% and a net margin of 20.43%. The company had revenue of $9.40 billion during the quarter, compared to analysts’ expectations of $9.16 billion. During the same period in the prior year, the business earned $4.21 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts anticipate that Linde PLC will post 17.88 earnings per share for the current year.

Linde Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $6.40 annualized dividend and a dividend yield of 1.2%. Linde’s payout ratio is presently 42.52%.

About Linde

Linde plc (NASDAQ:LIN) is a global industrial gases and engineering company. It produces and distributes atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide and specialty gases. The company serves customers through packaged gases, bulk deliveries, on-site production and pipeline systems.

Linde’s products and services support a broad range of industries, including healthcare, food and beverage, manufacturing, chemicals, energy, refining, electronics and metals.