Pillar Pacific Capital Management LLC lessened its position in shares of Linde plc (NYSE:LIN) by 0.3% during the 4th quarter, HoldingsChannel reports. The fund owned 45,522 shares of the basic materials company’s stock after selling 135 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in Linde were worth $11,996,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its holdings in Linde by 3.2% in the fourth quarter. BlackRock Inc. now owns 31,465,193 shares of the basic materials company’s stock valued at $8,291,395,000 after purchasing an additional 973,130 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Linde by 104.0% in the third quarter. The Manufacturers Life Insurance Company now owns 1,300,172 shares of the basic materials company’s stock valued at $309,610,000 after purchasing an additional 662,883 shares during the last quarter. Cibc World Markets Corp increased its holdings in Linde by 912.1% in the third quarter. Cibc World Markets Corp now owns 521,975 shares of the basic materials company’s stock valued at $124,298,000 after purchasing an additional 470,403 shares during the last quarter. Pendal Group Limited increased its holdings in Linde by 4,136.2% in the third quarter. Pendal Group Limited now owns 439,848 shares of the basic materials company’s stock valued at $104,741,000 after purchasing an additional 429,465 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Linde by 9.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,558,382 shares of the basic materials company’s stock valued at $1,070,627,000 after purchasing an additional 403,726 shares during the last quarter. 72.64% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded Linde from a “buy” rating to a “hold” rating in a report on Thursday, February 18th. Deutsche Bank Aktiengesellschaft increased their price target on Linde from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Monday, February 8th. HSBC upgraded Linde from a “hold” rating to a “buy” rating and set a $272.00 price target for the company in a report on Wednesday, November 25th. Morgan Stanley increased their price target on Linde from $281.00 to $285.00 and gave the stock an “overweight” rating in a report on Monday, February 8th. Finally, Berenberg Bank restated a “buy” rating on shares of Linde in a report on Wednesday, November 11th. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Linde presently has a consensus rating of “Buy” and a consensus price target of $260.24.
Linde (NYSE:LIN) last issued its quarterly earnings results on Thursday, February 4th. The basic materials company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.14 by $0.16. Linde had a return on equity of 8.56% and a net margin of 8.29%. The firm had revenue of $7.27 billion during the quarter, compared to analysts’ expectations of $6.97 billion. Analysts predict that Linde plc will post 8.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 22nd. Stockholders of record on Friday, March 5th will be given a $1.06 dividend. This represents a $4.24 dividend on an annualized basis and a dividend yield of 1.67%. This is a boost from Linde’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Thursday, March 4th. Linde’s dividend payout ratio (DPR) is presently 52.45%.
In other news, insider Kelcey E. Hoyt sold 2,559 shares of the firm’s stock in a transaction that occurred on Friday, February 12th. The stock was sold at an average price of $251.66, for a total value of $643,997.94. Following the completion of the sale, the insider now directly owns 6,779 shares of the company’s stock, valued at $1,706,003.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.
Linde Company Profile
Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. It also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, and hydrogen and synthesis gas plants.
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