Concord Asset Management LLC VA Sells 3,854 Shares of Linde PLC (NASDAQ:LIN)

Concord Asset Management LLC VA reduced its holdings in shares of Linde PLC (NASDAQ:LIN - Free Report) by 80.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 920 shares of the basic materials company's stock after selling 3,854 shares during the quarter. Concord Asset Management LLC VA's holdings in Linde were worth $412,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital World Investors increased its stake in shares of Linde by 34.4% in the 4th quarter. Capital World Investors now owns 11,547,765 shares of the basic materials company's stock valued at $4,834,631,000 after purchasing an additional 2,957,604 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Linde by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 11,003,925 shares of the basic materials company's stock valued at $4,598,551,000 after purchasing an additional 30,750 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Linde by 6.4% in the 4th quarter. Capital Research Global Investors now owns 9,214,290 shares of the basic materials company's stock valued at $3,857,741,000 after purchasing an additional 554,480 shares during the last quarter. Norges Bank bought a new position in shares of Linde in the 4th quarter valued at $2,901,853,000. Finally, Freemont Capital Pte Ltd bought a new position in shares of Linde in the 4th quarter valued at $2,128,233,000. 82.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LIN. Sanford C. Bernstein upgraded Linde to a "strong-buy" rating in a research report on Thursday, April 3rd. Argus upgraded Linde to a "strong-buy" rating in a research report on Tuesday, April 8th. Royal Bank Of Canada began coverage on Linde in a report on Friday, June 13th. They issued an "outperform" rating and a $576.00 price target on the stock. UBS Group increased their price target on Linde from $485.00 to $504.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Finally, Citigroup upgraded Linde from a "neutral" rating to a "buy" rating and increased their price target for the stock from $500.00 to $535.00 in a report on Monday, June 30th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $518.80.

Insider Activity

In other news, VP David P. Strauss sold 1,987 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $457.04, for a total value of $908,138.48. Following the completion of the sale, the vice president owned 22,639 shares of the company's stock, valued at approximately $10,346,928.56. The trade was a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value 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. This represents a 47.11% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Linde Stock Performance

Shares of Linde stock traded down $1.09 during trading hours on Wednesday, reaching $459.47. The company had a trading volume of 679,726 shares, compared to its average volume of 2,170,166. Linde PLC has a one year low of $408.65 and a one year high of $487.49. The business has a fifty day simple moving average of $464.04 and a 200 day simple moving average of $453.41. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.94 and a quick ratio of 0.80. The firm has a market cap of $216.28 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 3.31 and a beta of 0.96.

Linde (NASDAQ:LIN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $3.95 EPS for the quarter, topping analysts' consensus estimates of $3.92 by $0.03. Linde had a return on equity of 18.95% and a net margin of 20.02%. The firm had revenue of $8.11 billion during the quarter, compared to analyst estimates of $8.24 billion. During the same period last year, the company earned $3.75 earnings per share. The business's revenue for the quarter was up .1% on a year-over-year basis. On average, analysts anticipate that Linde PLC will post 16.54 earnings per share for the current fiscal year.

Linde Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.31%. The ex-dividend date was Wednesday, June 4th. Linde's 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.