Avanza Fonder AB Invests $21.07 Million in Linde plc (NASDAQ:LIN)

Avanza Fonder AB bought a new stake in Linde plc (NASDAQ:LIN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 44,860 shares of the basic materials company's stock, valued at approximately $21,073,000. Linde makes up 0.7% of Avanza Fonder AB's holdings, making the stock its 20th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. grew its stake in Linde by 1,160.0% in the 4th 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 during the last quarter. Putney Financial Group LLC acquired a new stake in Linde during the fourth quarter worth about $31,000. Dunhill Financial LLC bought a new position in Linde in the 4th quarter valued at about $34,000. New Age Alpha Advisors LLC increased its holdings in Linde by 34.9% in the 4th quarter. New Age Alpha Advisors LLC now owns 85 shares of the basic materials company's stock valued at $36,000 after buying an additional 22 shares during the period. Finally, Capital A Wealth Management LLC acquired a new position in shares of Linde in the 4th quarter valued at approximately $37,000. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on LIN. Sanford C. Bernstein upgraded shares of Linde to a "strong-buy" rating in a research report on Thursday, April 3rd. Argus raised Linde to a "strong-buy" rating in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $503.11.

Insider Activity at Linde

In other news, VP Sean Durbin sold 7,261 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $456.42, for a total value of $3,314,065.62. Following the sale, the vice president now directly owns 8,151 shares of the company's stock, valued at approximately $3,720,279.42. This represents a 47.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David P. Strauss sold 1,987 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $457.04, for a total transaction of $908,138.48. Following the sale, the vice president now owns 22,639 shares of the company's stock, valued at approximately $10,346,928.56. This trade represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Linde Trading Up 0.4%

Linde stock traded up $1.99 during trading hours on Thursday, hitting $470.53. The stock had a trading volume of 1,541,633 shares, compared to its average volume of 1,969,101. The business's 50 day simple moving average is $453.31 and its 200-day simple moving average is $448.95. Linde plc has a one year low of $408.65 and a one year high of $487.49. The stock has a market cap of $221.49 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 3.08 and a beta of 0.97. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 0.39.

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

Linde Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $1.50 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $6.00 annualized dividend and a dividend yield of 1.28%. Linde's dividend payout ratio is 43.57%.

Linde Company 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.