AlphaCore Capital LLC Buys New Stake in Linde PLC (NASDAQ:LIN)

Key Points

• AlphaCore Capital LLC acquired a new position in Linde PLC, purchasing 997 shares valued at approximately $464,000, according to their recent 13F filing.
• JPMorgan Chase & Co. raised their price target for Linde from $470.00 to $475.00 and rated the stock as "overweight," indicating positive sentiment from analysts.
• Linde announced a quarterly dividend of $1.50 per share, representing a 1.3% yield, with a total annualized dividend of $6.00.

AlphaCore Capital LLC purchased a new position in Linde PLC (NASDAQ:LIN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 997 shares of the basic materials company's stock, valued at approximately $464,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Linde by 12.0% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 894,403 shares of the basic materials company's stock valued at $416,470,000 after buying an additional 95,745 shares during the period. Evernest Financial Advisors LLC acquired a new stake in shares of Linde during the 1st quarter valued at $277,000. CenterBook Partners LP boosted its stake in shares of Linde by 1,192.4% during the 1st quarter. CenterBook Partners LP now owns 48,001 shares of the basic materials company's stock valued at $22,351,000 after buying an additional 44,287 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Linde during the 1st quarter valued at $3,616,000. Finally, Deutsche Bank AG boosted its stake in shares of Linde by 172.4% during the 1st quarter. Deutsche Bank AG now owns 2,407,637 shares of the basic materials company's stock valued at $1,121,092,000 after buying an additional 1,523,702 shares during the period. Institutional investors and hedge funds own 82.80% of the company's stock.

Insider Buying and Selling

In other news, VP Sean Durbin sold 7,261 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $456.42, for a total transaction of $3,314,065.62. Following the transaction, the vice president owned 8,151 shares in the company, valued at approximately $3,720,279.42. The trade was a 47.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen F. Angel sold 50,309 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $473.38, for a total transaction of $23,815,274.42. Following the transaction, the director owned 480,543 shares in the company, valued at approximately $227,479,445.34. The trade was a 9.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,557 shares of company stock worth $28,037,479 in the last quarter. 0.70% of the stock is currently owned by company insiders.

Linde Stock Performance

LIN traded down $0.06 during trading on Thursday, hitting $475.57. The stock had a trading volume of 463,897 shares, compared to its average volume of 2,077,466. The firm has a market cap of $223.00 billion, a PE ratio of 33.82, a P/E/G ratio of 3.13 and a beta of 0.92. Linde PLC has a 12 month low of $408.65 and a 12 month high of $487.49. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 0.49. The company has a 50 day simple moving average of $467.99 and a 200-day simple moving average of $459.43.

Linde (NASDAQ:LIN - Get Free Report) last announced its earnings results on Friday, August 1st. The basic materials company reported $4.09 EPS for the quarter, topping the consensus estimate of $4.03 by $0.06. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.35 billion. Linde had a net margin of 20.20% and a return on equity of 19.09%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.85 EPS. Analysts expect that Linde PLC will post 16.54 EPS for the current year.

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, September 4th. Linde's dividend payout ratio (DPR) is 42.67%.

Analysts Set New Price Targets

LIN has been the subject of a number of research reports. UBS Group lifted their target price on shares of Linde from $485.00 to $504.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of Linde from $470.00 to $475.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Citigroup raised shares of Linde from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $500.00 to $535.00 in a research note on Monday, June 30th. Finally, Royal Bank Of Canada started coverage on shares of Linde in a research note on Friday, June 13th. They issued an "outperform" rating and a $576.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $519.63.

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.