DoubleLine ETF Adviser LP Invests $15.66 Million in Linde plc (NASDAQ:LIN)

DoubleLine ETF Adviser LP purchased a new stake in Linde plc (NASDAQ:LIN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,396 shares of the basic materials company's stock, valued at approximately $15,657,000. Linde makes up approximately 4.2% of DoubleLine ETF Adviser LP's portfolio, making the stock its 2nd largest holding.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank acquired a new position in shares of Linde in the 4th quarter valued at approximately $2,901,853,000. Capital World Investors raised its position in Linde by 34.4% during the fourth quarter. Capital World Investors now owns 11,547,765 shares of the basic materials company's stock valued at $4,834,631,000 after purchasing an additional 2,957,604 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Linde by 56,467.9% during the fourth quarter. Proficio Capital Partners LLC now owns 1,097,982 shares of the basic materials company's stock worth $459,692,000 after purchasing an additional 1,096,041 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Linde by 2,293.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 782,461 shares of the basic materials company's stock worth $327,593,000 after purchasing an additional 749,763 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Linde in the 4th quarter valued at $308,251,000. 82.80% of the stock is owned by institutional investors.

Linde Trading Down 0.5 %

LIN traded down $2.46 during trading on Monday, reaching $452.49. 1,462,119 shares of the company's stock were exchanged, compared to its average volume of 1,934,450. The firm has a fifty day moving average price of $453.29 and a two-hundred day moving average price of $449.21. The stock has a market capitalization of $213.99 billion, a PE ratio of 33.25, a price-to-earnings-growth ratio of 3.08 and a beta of 1.00. Linde plc has a one year low of $408.65 and a one year high of $487.49. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39.

Linde (NASDAQ:LIN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The basic materials company reported $3.95 earnings per share for the quarter, beating analysts' consensus estimates of $3.92 by $0.03. The business had revenue of $8.11 billion during the quarter, compared to the consensus estimate of $8.24 billion. Linde had a return on equity of 18.71% and a net margin of 19.89%. Linde's quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $3.75 earnings per share. As a group, equities research analysts forecast that Linde plc will post 16.54 earnings per share for the current fiscal year.

Linde Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, June 4th. Linde's payout ratio is presently 44.09%.

Insider Buying and Selling at Linde

In other Linde news, VP David P. Strauss sold 2,477 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $469.74, for a total transaction of $1,163,545.98. Following the completion of the sale, the vice president now directly owns 1,300 shares in the company, valued at approximately $610,662. This trade represents a 65.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Juergen Nowicki sold 6,782 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $459.62, for a total value of $3,117,142.84. Following the completion of the transaction, the vice president now directly owns 14,765 shares in the company, valued at $6,786,289.30. This represents a 31.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,159 shares of company stock valued at $5,603,843. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Sanford C. Bernstein raised Linde to a "strong-buy" rating in a report on Thursday, April 3rd. TD Cowen raised shares of Linde from a "hold" rating to a "buy" rating and increased their target price for the stock from $480.00 to $515.00 in a report on Monday, January 13th. Finally, Argus raised shares of Linde to a "strong-buy" rating in a report on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Linde presently has a consensus rating of "Moderate Buy" and a consensus target price of $498.00.

Linde Profile

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.