Linde plc (NASDAQ:LIN) Stake Cut by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp decreased its holdings in shares of Linde plc (NASDAQ:LIN) by 34.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 329,099 shares of the basic materials company’s stock after selling 175,284 shares during the period. Linde comprises about 1.2% of OMERS ADMINISTRATION Corp’s portfolio, making the stock its 26th largest holding. OMERS ADMINISTRATION Corp’s holdings in Linde were worth $137,784,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Synergy Asset Management LLC bought a new position in shares of Linde in the fourth quarter worth $25,000. Rakuten Securities Inc. grew its holdings in shares of Linde by 1,160.0% during the fourth quarter. Rakuten Securities Inc. now owns 63 shares of the basic materials company’s stock valued at $26,000 after buying an additional 58 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Linde in the 4th quarter valued at about $28,000. Retirement Wealth Solutions LLC purchased a new stake in Linde in the 4th quarter worth approximately $34,000. Finally, Dunhill Financial LLC purchased a new position in Linde in the fourth quarter valued at about $34,000. 82.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Linde

In related news, VP David P. Strauss sold 2,477 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $469.74, for a total value of $1,163,545.98. Following the completion of the transaction, the vice president now owns 1,300 shares in the company, valued at $610,662. The trade was a 65.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Juergen Nowicki sold 6,782 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $459.62, for a total value of $3,117,142.84. Following the completion of the transaction, the vice president now owns 14,765 shares in the company, valued at $6,786,289.30. The trade was a 31.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LIN shares. TD Cowen raised shares of Linde from a “hold” rating to a “buy” rating and raised their price objective for the company from $480.00 to $515.00 in a research report on Monday, January 13th. Argus upgraded shares of Linde to a “strong-buy” rating in a report on Tuesday, April 8th. Finally, Sanford C. Bernstein upgraded shares of Linde to a “strong-buy” rating in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Linde presently has a consensus rating of “Moderate Buy” and an average price target of $503.11.

Linde Stock Performance

LIN opened at $454.42 on Tuesday. Linde plc has a 12-month low of $408.65 and a 12-month high of $487.49. The stock’s 50 day moving average price is $451.87 and its two-hundred day moving average price is $448.04. The firm has a market capitalization of $213.91 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 3.08 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 0.39.

Linde (NASDAQ:LIN) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $3.95 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.03. Linde had a return on equity of 18.71% and a net margin of 19.89%. The company had revenue of $8.11 billion during the quarter, compared to the consensus estimate of $8.24 billion. During the same quarter last year, the company earned $3.75 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts forecast that Linde plc will post 16.54 earnings per share for the current year.

Linde Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $1.50 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.32%. Linde’s payout ratio is presently 43.57%.

Linde 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.