Carnegie Investment Counsel Acquires 2,257 Shares of Linde PLC $LIN

Key Points

• Carnegie Investment Counsel initiated a Linde stake by purchasing 2,257 shares worth approximately $1.07 million. Institutional investors collectively own 82.8% of the company.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $547.10; recent targets range from $538 to $577.
• Linde reported quarterly revenue of $9.29 billion and EPS of $4.50, beating estimates, while revenue rose 9.3% year over year. The company also paid a quarterly dividend of $1.60 per share, equivalent to a 1.3% annual yield.

Carnegie Investment Counsel bought a new stake in shares of Linde PLC (NASDAQ:LIN - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,257 shares of the basic materials company's stock, valued at approximately $1,071,000.

Other hedge funds have also recently modified their holdings of the company. Flossbach Von Storch SE bought a new position in shares of Linde in the 2nd quarter worth about $438,525,000. State Street Corp lifted its position in Linde by 3.7% during the 2nd quarter. State Street Corp now owns 20,344,181 shares of the basic materials company's stock valued at $10,558,016,000 after acquiring an additional 719,052 shares during the period. Hsbc Holdings PLC boosted its stake in Linde by 162.9% during the first quarter. Hsbc Holdings PLC now owns 1,097,110 shares of the basic materials company's stock worth $543,951,000 after acquiring an additional 679,738 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Linde by 394.8% during the first quarter. Renaissance Technologies LLC now owns 629,820 shares of the basic materials company's stock worth $312,240,000 after acquiring an additional 502,520 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Linde by 2,320.1% during the first quarter. Bessemer Group Inc. now owns 464,011 shares of the basic materials company's stock worth $230,038,000 after acquiring an additional 444,838 shares in the last quarter. Institutional investors own 82.80% of the company's stock.

Analyst Upgrades and Downgrades

LIN has been the topic of a number of recent research reports. Berenberg Bank restated a "buy" rating on shares of Linde in a report on Tuesday, August 4th. Jefferies Financial Group lifted their target price on shares of Linde from $535.00 to $560.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Barclays assumed coverage on shares of Linde in a report on Monday, October 12th. They set an "overweight" rating and a $577.00 target price for the company. Argus dropped their price target on Linde from $563.00 to $538.00 and set a "buy" rating on the stock in a research report on Monday, September 28th. Finally, Citigroup cut their price target on Linde from $580.00 to $560.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $547.10.

Linde Stock Up 2.0%

Shares of Linde stock opened at $510.36 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.75 and a current ratio of 0.88. The stock has a market capitalization of $235.27 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 2.92 and a beta of 0.71. Linde PLC has a 52-week low of $387.78 and a 52-week high of $548.20. The company has a 50-day simple moving average of $480.03 and a two-hundred day simple moving average of $498.29.

Linde (NASDAQ:LIN - Get Free Report) last issued its earnings results on Friday, July 31st. The basic materials company reported $4.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.01. Linde had a net margin of 20.43% and a return on equity of 20.09%. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.02 billion. During the same quarter in the prior year, the firm posted $4.09 earnings per share. The business's revenue was up 9.3% on a year-over-year basis. Linde has set its FY 2026 guidance at 17.700-17.900 EPS and its Q3 2026 guidance at 4.450-4.550 EPS. On average, analysts anticipate that Linde PLC will post 17.86 EPS for the current fiscal year.

Linde Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Thursday, September 3rd. Linde's payout ratio is presently 41.34%.

Linde Company Profile

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.

Want to see what other hedge funds are holding LIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Linde PLC (NASDAQ:LIN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.