Canoe Financial LP Has $14.80 Million Holdings in Linde PLC $LIN

Key Points

• Canoe Financial LP reduced its stake in Linde PLC by 7.6%, selling 2,600 shares during the second quarter and leaving them with 31,538 shares valued at approximately $14.8 million.
• Several institutional investors have recently initiated positions in Linde, with over 82.80% of the company's stock now owned by such investors.
• Equities analysts show a positive outlook for Linde, with a consensus rating of "Buy" and a target price averaging $519.63, following upgrades from major firms.

Canoe Financial LP decreased its position in Linde PLC (NASDAQ:LIN - Free Report) by 7.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,538 shares of the basic materials company's stock after selling 2,600 shares during the quarter. Canoe Financial LP's holdings in Linde were worth $14,797,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LIN. Price T Rowe Associates Inc. MD lifted its stake in Linde by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,600,297 shares of the basic materials company's stock valued at $4,470,284,000 after acquiring an additional 453,108 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Linde by 18.6% in the first quarter. Wellington Management Group LLP now owns 7,542,991 shares of the basic materials company's stock worth $3,511,751,000 after purchasing an additional 1,182,157 shares in the last quarter. Nuveen LLC acquired a new position in Linde during the first quarter worth $2,097,793,000. Invesco Ltd. grew its position in Linde by 1.1% in the first quarter. Invesco Ltd. now owns 3,859,539 shares of the basic materials company's stock valued at $1,797,156,000 after purchasing an additional 40,931 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Linde by 58,312.0% in the 1st quarter. GAMMA Investing LLC now owns 3,415,935 shares of the basic materials company's stock valued at $1,590,596,000 after buying an additional 3,410,087 shares during the last quarter. 82.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Linde

In other Linde news, Director Stephen F. Angel sold 50,309 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $473.38, for a total transaction of $23,815,274.42. Following the sale, the director owned 480,543 shares of the company's stock, valued at approximately $227,479,445.34. The trade was a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

Linde Price Performance

Shares of LIN stock traded up $3.01 during trading hours on Friday, reaching $479.01. The company's stock had a trading volume of 3,725,607 shares, compared to its average volume of 1,663,088. Linde PLC has a fifty-two week low of $408.65 and a fifty-two week high of $487.49. The firm's 50 day simple moving average is $473.32 and its 200-day simple moving average is $463.35. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $224.61 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 3.16 and a beta of 0.95.

Linde (NASDAQ:LIN - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The basic materials company reported $4.09 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.06. Linde had a return on equity of 19.09% and a net margin of 20.20%.The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period last year, the firm posted $3.85 earnings per share. Linde's revenue was up 2.3% compared to the same quarter last year. Linde has set its FY 2025 guidance at 16.300-16.500 EPS. Q3 2025 guidance at 4.100-4.20 EPS. Sell-side analysts forecast that Linde PLC will post 16.54 earnings per share for the current year.

Linde Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $1.50 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.00 annualized dividend and a yield of 1.3%. Linde's dividend payout ratio is presently 42.67%.

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.