Cary Street Partners Financial LLC Makes New $4.71 Million Investment in Linde plc (NASDAQ:LIN)

Cary Street Partners Financial LLC bought a new stake in shares of Linde plc (NASDAQ:LIN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,237 shares of the basic materials company's stock, valued at approximately $4,705,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC bought a new position in Linde in the 4th quarter worth approximately $25,000. Rakuten Securities Inc. increased its stake in shares of Linde by 1,160.0% in 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 bought a new position in shares of Linde in the fourth quarter worth about $28,000. Retirement Wealth Solutions LLC acquired a new position in Linde during the 4th quarter worth $34,000. Finally, New Age Alpha Advisors LLC lifted its position in Linde by 34.9% during the 4th quarter. New Age Alpha Advisors LLC now owns 85 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 82.80% of the company's stock.

Linde Trading Down 0.1 %

LIN stock traded down $0.67 during midday trading on Friday, hitting $452.56. The stock had a trading volume of 1,058,910 shares, compared to its average volume of 1,932,552. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average price of $452.32 and a two-hundred day moving average price of $448.76. Linde plc has a 1-year low of $408.65 and a 1-year high of $487.49. The firm has a market cap of $213.03 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 3.08 and a beta of 1.00.

Linde (NASDAQ:LIN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $3.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.92 by $0.03. The firm had revenue of $8.11 billion for the quarter, compared to analyst estimates of $8.24 billion. Linde had a return on equity of 18.71% and a net margin of 19.89%. The company's revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.75 earnings per share. On average, sell-side analysts predict that Linde plc will post 16.54 earnings per share for the current fiscal year.

Linde Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Wednesday, June 4th. Linde's dividend payout ratio (DPR) is currently 43.57%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LIN. Sanford C. Bernstein upgraded shares of Linde to a "strong-buy" rating in a report on Thursday, April 3rd. Argus upgraded shares of Linde to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, TD Cowen raised shares of Linde from a "hold" rating to a "buy" rating and raised their target price for the company from $480.00 to $515.00 in a research note on Monday, January 13th. Three 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $503.11.

Insiders Place Their Bets

In other Linde news, Director Robert L. Wood sold 2,900 shares of Linde stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $456.26, for a total transaction of $1,323,154.00. Following the completion of the transaction, the director now owns 14,013 shares in the company, valued at approximately $6,393,571.38. The trade was a 17.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Juergen Nowicki sold 6,782 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $459.62, for a total value of $3,117,142.84. Following the completion of the sale, the vice president now directly owns 14,765 shares of the company's stock, valued at approximately $6,786,289.30. This trade represents a 31.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,159 shares of company stock worth $5,603,843. Corporate insiders own 0.60% of the company's stock.

About Linde

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.