Lansforsakringar Fondforvaltning AB publ Makes New $66.28 Million Investment in Linde plc (NASDAQ:LIN)

Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Linde plc (NASDAQ:LIN - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 158,304 shares of the basic materials company's stock, valued at approximately $66,277,000. Linde comprises about 0.8% of Lansforsakringar Fondforvaltning AB publ's investment portfolio, making the stock its 27th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new stake in Linde during the 4th quarter worth approximately $25,000. Rakuten Securities Inc. grew its holdings in Linde by 1,160.0% during the 4th quarter. Rakuten Securities Inc. now owns 63 shares of the basic materials company's stock worth $26,000 after acquiring an additional 58 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Linde during the 4th quarter worth approximately $28,000. Putney Financial Group LLC bought a new stake in Linde during the 4th quarter worth approximately $31,000. Finally, Dunhill Financial LLC bought a new stake in Linde during the 4th quarter worth approximately $34,000. 82.80% of the stock is owned by institutional investors.

Linde Stock Up 0.3%

LIN traded up $1.57 during trading on Thursday, hitting $464.08. 1,306,820 shares of the company's stock were exchanged, compared to its average volume of 1,957,461. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 0.39. The business's 50 day moving average is $451.64 and its two-hundred day moving average is $447.79. Linde plc has a fifty-two week low of $408.65 and a fifty-two week high of $487.49. The stock has a market cap of $218.45 billion, a P/E ratio of 34.10, a PEG ratio of 3.08 and a beta of 1.00.

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

Linde Announces Dividend

The company 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 dividend of $1.50 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $6.00 annualized dividend and a yield of 1.29%. Linde's dividend payout ratio is currently 43.57%.

Insider Activity at Linde

In other Linde news, VP Sean Durbin sold 7,261 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 8,151 shares of the company's stock, valued at $3,720,279.42. The trade was a 47.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David P. Strauss sold 1,987 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 22,639 shares of the company's stock, valued at approximately $10,346,928.56. This represents a 8.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,725 shares of company stock valued at $5,385,750. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LIN shares. Argus raised shares of Linde to a "strong-buy" rating in a report on Tuesday, April 8th. Sanford C. Bernstein raised shares of Linde to a "strong-buy" rating in a research note on Thursday, April 3rd. Three research 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. According to MarketBeat.com, Linde presently has a consensus rating of "Moderate Buy" and a consensus target price of $503.11.

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.