5,724 Linde PLC $LIN Shares Purchased by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors increased its Linde stake by 7,338.5% in the third quarter, buying 5,724 shares to hold 5,802 shares valued at about $2.75 million.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $553.05; 22 analysts rated the stock Buy or Strong Buy and two rated it Hold.
• Linde beat quarterly earnings and revenue estimates, reporting EPS of $4.59 and revenue of $9.40 billion, with revenue up 9.3% year over year. It also declared a $1.60 quarterly dividend per share.

Provenance Wealth Advisors LLC lifted its stake in Linde PLC (NASDAQ:LIN - Free Report) by 7,338.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,802 shares of the basic materials company's stock after purchasing an additional 5,724 shares during the period. Provenance Wealth Advisors LLC's holdings in Linde were worth $2,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Prescott Group Capital Management L.L.C. purchased a new position in shares of Linde during the 3rd quarter valued at about $381,000. Putney Financial Group LLC bought a new position in shares of Linde during the 3rd quarter valued at approximately $36,000. Integrity Alliance LLC. bought a new position in shares of Linde during the 3rd quarter valued at approximately $306,000. Oregon Public Employees Retirement Fund purchased a new stake in Linde in the 3rd quarter worth approximately $26,918,000. Finally, First Nebraska Trust Co purchased a new stake in Linde in the 3rd quarter worth approximately $288,000. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LIN. BMO Capital Markets restated an "outperform" rating on shares of Linde in a research note on Thursday, October 8th. Jefferies Financial Group upped their price target on shares of Linde from $535.00 to $560.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. KeyCorp increased their price objective on shares of Linde from $542.00 to $545.00 and gave the stock an "overweight" rating in a research note on Friday. Weiss Ratings downgraded shares of Linde from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Finally, Barclays lifted their target price on shares of Linde from $577.00 to $591.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Linde presently has an average rating of "Moderate Buy" and an average price target of $553.05.

Linde Stock Performance

NASDAQ:LIN opened at $511.55 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.72 and a debt-to-equity ratio of 0.50. Linde PLC has a 12-month low of $387.78 and a 12-month high of $548.20. The stock has a 50-day moving average price of $484.60 and a 200 day moving average price of $493.09. The stock has a market capitalization of $234.84 billion, a P/E ratio of 33.99, a P/E/G ratio of 3.07 and a beta of 0.67.

Linde (NASDAQ:LIN - Get Free Report) last issued its earnings results on Thursday, October 29th. The basic materials company reported $4.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.07. Linde had a return on equity of 20.32% and a net margin of 19.34%. The company had revenue of $9.40 billion for the quarter, compared to the consensus estimate of $9.16 billion. During the same quarter last year, the company earned $4.21 EPS. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that Linde PLC will post 17.89 EPS for the current fiscal year.

Linde Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, December 3rd. Linde's dividend payout ratio (DPR) is 42.52%.

About Linde

Linde plc NASDAQ: LIN is a global industrial gases and engineering company. It produces and distributes atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide and specialty gases. The company serves customers through packaged gases, bulk deliveries, on-site production and pipeline systems.

Linde's products and services support a broad range of industries, including healthcare, food and beverage, manufacturing, chemicals, energy, refining, electronics and metals.

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