tru Independence LLC bought a new stake in shares of Linde plc (NYSE:LIN) in the fourth quarter, Holdings Channel.com reports. The fund bought 151 shares of the basic materials company’s stock, valued at approximately $39,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Linde by 14.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 318 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 39 shares during the period. Delta Asset Management LLC TN boosted its stake in shares of Linde by 4.8% during the fourth quarter. Delta Asset Management LLC TN now owns 881 shares of the basic materials company’s stock valued at $232,000 after purchasing an additional 40 shares during the period. Flputnam Investment Management Co. boosted its stake in shares of Linde by 4.2% during the fourth quarter. Flputnam Investment Management Co. now owns 1,047 shares of the basic materials company’s stock valued at $276,000 after purchasing an additional 42 shares during the period. Highland Private Wealth Management boosted its stake in shares of Linde by 2.7% during the fourth quarter. Highland Private Wealth Management now owns 1,609 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 42 shares during the period. Finally, Brookstone Capital Management raised its holdings in shares of Linde by 4.4% in the fourth quarter. Brookstone Capital Management now owns 1,016 shares of the basic materials company’s stock valued at $268,000 after acquiring an additional 43 shares in the last quarter. 72.64% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Kelcey E. Hoyt sold 2,559 shares of the company’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $251.66, for a total transaction of $643,997.94. Following the transaction, the insider now owns 6,779 shares in the company, valued at $1,706,003.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.
Linde (NYSE:LIN) last posted its quarterly earnings data on Thursday, February 4th. The basic materials company reported $2.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.16. Linde had a net margin of 8.29% and a return on equity of 8.56%. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $6.97 billion. On average, equities analysts predict that Linde plc will post 8.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 22nd. Stockholders of record on Friday, March 5th were issued a dividend of $1.06 per share. The ex-dividend date was Thursday, March 4th. This represents a $4.24 annualized dividend and a dividend yield of 1.51%. This is an increase from Linde’s previous quarterly dividend of $0.96. Linde’s dividend payout ratio is 57.77%.
Several analysts recently weighed in on LIN shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Linde from $300.00 to $330.00 and gave the company a “buy” rating in a report on Monday, February 8th. Morgan Stanley lifted their price objective on Linde from $281.00 to $285.00 and gave the company an “overweight” rating in a report on Monday, February 8th. Zacks Investment Research downgraded Linde from a “buy” rating to a “hold” rating in a report on Thursday, February 18th. Kepler Capital Markets restated a “buy” rating on shares of Linde in a report on Wednesday, December 9th. Finally, DZ Bank restated a “buy” rating on shares of Linde in a report on Friday, February 19th. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $267.24.
Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers oxygen, nitrogen, argon, rare gases, carbon dioxide, hydrogen, helium, electronic and specialty gases, acetylene, and carbon monoxide. The company also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, hydrogen and synthesis gas, and other plants.
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