122,835 Shares of Linde PLC $LIN Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new position in Linde PLC (NASDAQ:LIN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 122,835 shares of the basic materials company’s stock, valued at approximately $58,146,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Markel Group Inc. bought a new position in shares of Linde during the third quarter valued at approximately $104,708,000. Parr Mcknight Wealth Management Group LLC raised its stake in Linde by 7.3% in the third quarter. Parr Mcknight Wealth Management Group LLC now owns 14,955 shares of the basic materials company’s stock worth $7,099,000 after buying an additional 1,019 shares in the last quarter. MFG Investments LLC bought a new position in Linde in the third quarter worth approximately $854,000. Third View Private Wealth LLC lifted its holdings in Linde by 2.6% during the third quarter. Third View Private Wealth LLC now owns 8,677 shares of the basic materials company’s stock worth $4,119,000 after buying an additional 221 shares during the period. Finally, Provenance Wealth Advisors LLC lifted its holdings in Linde by 7,338.5% during the third quarter. Provenance Wealth Advisors LLC now owns 5,802 shares of the basic materials company’s stock worth $2,754,000 after buying an additional 5,724 shares during the period. 82.80% of the stock is currently owned by institutional investors.

Linde Stock Down 1.6%

NASDAQ:LIN opened at $511.55 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $484.60 and its two-hundred day moving average is $493.09. Linde PLC has a twelve month low of $387.78 and a twelve month high of $548.20. The company has a market cap of $234.84 billion, a PE ratio of 33.99, a P/E/G ratio of 3.07 and a beta of 0.67.

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, topping analysts’ consensus estimates of $4.52 by $0.07. The company had revenue of $9.40 billion during the quarter, compared to analyst estimates of $9.16 billion. Linde had a return on equity of 20.32% and a net margin of 19.34%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $4.21 EPS. Analysts anticipate that Linde PLC will post 17.89 EPS for the current year.

Linde Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a $1.60 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.3%. Linde’s dividend payout ratio is presently 42.52%.

Wall Street Analyst Weigh In

LIN has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on Linde from $580.00 to $575.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Bank of America raised their price objective on Linde from $532.00 to $550.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. DZ Bank reiterated a “neutral” rating on shares of Linde in a research note on Thursday, August 6th. Berenberg Bank reiterated a “buy” rating on shares of Linde in a research note on Tuesday, August 4th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Linde in a report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $553.05.

Linde Company Profile

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.