Linde PLC $LIN Shares Bought by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC increased its holdings in Linde PLC by 10.5%, acquiring an additional 2,111 shares, bringing its total to 22,177 shares valued at approximately $10.3 million.
• Several other institutional investors also increased their stakes in Linde, with notable purchases including a 64.6% increase by Concentric Capital Strategies LP and a new stake worth $197 million by Alyeska Investment Group L.P.
• Linde's stock has been upgraded by multiple analysts, with JPMorgan raising the target price to $475 and Citigroup upgrading it to "buy" with a target of $535.

Eventide Asset Management LLC raised its holdings in shares of Linde PLC (NASDAQ:LIN - Free Report) by 10.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,177 shares of the basic materials company's stock after acquiring an additional 2,111 shares during the quarter. Eventide Asset Management LLC's holdings in Linde were worth $10,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. North Capital Inc. purchased a new position in shares of Linde during the 1st quarter valued at $25,000. Putney Financial Group LLC purchased a new position in shares of Linde during the 4th quarter valued at $31,000. Dunhill Financial LLC purchased a new position in shares of Linde during the 4th quarter valued at $34,000. Abound Financial LLC purchased a new position in shares of Linde during the 1st quarter valued at $41,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Linde during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 82.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. 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 upgraded shares of Linde from a "neutral" rating to a "buy" rating and lifted their target price for the company from $500.00 to $535.00 in a research note on Monday, June 30th. Finally, Royal Bank Of Canada assumed coverage on shares of Linde in a research note on Friday, June 13th. They issued an "outperform" rating and a $576.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $519.63.

Insiders Place Their Bets

In related news, Director Stephen F. Angel sold 50,309 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $473.38, for a total value of $23,815,274.42. Following the sale, the director directly owned 480,543 shares of the company's stock, valued at $227,479,445.34. This represents a 9.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

Linde Price Performance

Shares of NASDAQ LIN traded down $2.87 during mid-day trading on Friday, hitting $469.52. 1,066,218 shares of the company's stock traded hands, compared to its average volume of 1,500,235. The company's 50-day moving average is $472.43 and its two-hundred day moving average is $462.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.93 and a quick ratio of 0.78. The company has a market capitalization of $220.16 billion, a P/E ratio of 33.39, a PEG ratio of 3.10 and a beta of 0.95. Linde PLC has a 1 year low of $408.65 and a 1 year high of $487.49.

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

Linde Dividend Announcement

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

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.