Janney Montgomery Scott LLC increased its position in Linde plc (NYSE:LIN) by 9.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,267 shares of the basic materials company’s stock after acquiring an additional 7,566 shares during the period. Janney Montgomery Scott LLC’s holdings in Linde were worth $23,887,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in LIN. Clarius Group LLC bought a new position in Linde in the 1st quarter valued at about $235,000. Fisher Asset Management LLC boosted its holdings in shares of Linde by 156.1% in the first quarter. Fisher Asset Management LLC now owns 2,843 shares of the basic materials company’s stock worth $796,000 after buying an additional 1,733 shares during the period. United Asset Strategies Inc. lifted its position in shares of Linde by 116.3% in the first quarter. United Asset Strategies Inc. now owns 10,453 shares of the basic materials company’s stock worth $2,928,000 after purchasing an additional 5,621 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its position in shares of Linde by 7.8% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 7,426 shares of the basic materials company’s stock worth $2,080,000 after purchasing an additional 540 shares in the last quarter. Finally, OneAscent Financial Services LLC bought a new position in Linde during the first quarter valued at approximately $266,000. 72.64% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Kelcey E. Hoyt sold 2,559 shares of the company’s stock in a transaction on Friday, February 12th. The shares were sold at an average price of $251.66, for a total value of $643,997.94. Following the sale, the insider now directly owns 6,779 shares of the company’s stock, valued at approximately $1,706,003.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by company insiders.
Linde (NYSE:LIN) last announced its earnings results on Thursday, February 4th. The basic materials company reported $2.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.16. The firm had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $6.97 billion. Linde had a return on equity of 8.56% and a net margin of 8.29%. On average, analysts anticipate that Linde plc will post 8.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Thursday, June 3rd will be given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Wednesday, June 2nd. Linde’s dividend payout ratio is presently 57.77%.
Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Linde from a “buy” rating to a “hold” rating in a research report on Friday. The Goldman Sachs Group reiterated a “buy” rating on shares of Linde in a report on Friday, February 5th. Wells Fargo & Company raised their price objective on shares of Linde from $300.00 to $311.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 13th. Morgan Stanley raised their price objective on shares of Linde from $281.00 to $285.00 and gave the stock an “overweight” rating in a research note on Monday, February 8th. Finally, DZ Bank restated a “buy” rating on shares of Linde in a research note on Friday, February 19th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $274.81.
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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