Quantbot Technologies LP raised its holdings in shares of Linde PLC (NASDAQ:LIN – Free Report) by 1,434.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,138 shares of the basic materials company’s stock after purchasing an additional 26,304 shares during the quarter. Quantbot Technologies LP’s holdings in Linde were worth $13,366,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Darwin Wealth Management LLC purchased a new position in shares of Linde during the 2nd quarter valued at approximately $25,000. Marquette Asset Management LLC acquired a new stake in Linde in the third quarter valued at $27,000. YANKCOM Partnership boosted its stake in Linde by 195.2% during the 3rd quarter. YANKCOM Partnership now owns 62 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 41 shares during the last quarter. Guerra Advisors Inc bought a new position in Linde during the 3rd quarter valued at $30,000. Finally, Caitlin John LLC bought a new stake in shares of Linde in the 3rd quarter worth about $32,000. 82.80% of the stock is currently owned by hedge funds and other institutional investors.
Linde Stock Up 1.9%
Linde stock opened at $508.08 on Friday. The firm’s 50 day moving average price is $454.42 and its two-hundred day moving average price is $449.62. The firm has a market cap of $235.44 billion, a PE ratio of 34.82, a P/E/G ratio of 3.28 and a beta of 0.84. Linde PLC has a twelve month low of $387.78 and a twelve month high of $510.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.74 and a current ratio of 0.88.
Linde Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $1.60 per share. This is a boost from Linde’s previous quarterly dividend of $1.50. The ex-dividend date is Wednesday, March 11th. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Linde’s dividend payout ratio is currently 41.12%.
Insider Buying and Selling at Linde
In related news, VP Guillermo Bichara sold 9,455 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $480.45, for a total value of $4,542,654.75. Following the transaction, the vice president directly owned 22,138 shares of the company’s stock, valued at approximately $10,636,202.10. This trade represents a 29.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently commented on LIN. UBS Group increased their price target on shares of Linde from $500.00 to $550.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Morgan Stanley restated an “overweight” rating and set a $530.00 price objective on shares of Linde in a research note on Friday, February 6th. Erste Group Bank upgraded Linde from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. BMO Capital Markets reissued an “outperform” rating on shares of Linde in a research report on Tuesday, February 10th. Finally, Mizuho set a $525.00 price objective on shares of Linde in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Linde presently has an average rating of “Buy” and an average target price of $508.20.
Get Our Latest Analysis on Linde
Linde Company Profile
Linde (NASDAQ: LIN) is a multinational industrial gases and engineering company that supplies gases, related technologies and services to a wide range of industries. The company traces its current form to the 2018 combination of Germany’s Linde AG and U.S.-based Praxair, creating one of the largest global providers of industrial, specialty and medical gases. Linde’s business model centers on production, processing and distribution of gases as well as the design and construction of the plants and equipment needed to produce them.
Core products and services include atmospheric and process gases such as oxygen, nitrogen and argon; hydrogen and helium; carbon dioxide; and a portfolio of higher‑value specialty and electronic gases.
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