Linde PLC $LIN Shares Purchased by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group increased its Linde stake by 91.2% in the third quarter, adding 3,732 shares to reach 7,823 shares valued at about $3.98 million. Institutional investors and hedge funds own 82.8% of Linde stock.
• Linde beat quarterly earnings and revenue estimates, reporting EPS of $4.59 and revenue of $9.40 billion; revenue rose 9.3% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $553.05. Linde also declared a quarterly dividend of $1.60 per share.

Chicago Partners Investment Group LLC raised its position in shares of Linde PLC (NASDAQ:LIN - Free Report) by 91.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,823 shares of the basic materials company's stock after purchasing an additional 3,732 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Linde were worth $3,980,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Basso Capital Management L.P. bought a new stake in Linde in the third quarter worth about $366,000. Sound Financial Strategies Group LLC lifted its holdings in Linde by 14.4% in the 3rd quarter. Sound Financial Strategies Group LLC now owns 1,163 shares of the basic materials company's stock valued at $552,000 after acquiring an additional 146 shares during the last quarter. JCIC Asset Management Inc. bought a new position in shares of Linde during the 3rd quarter valued at about $26,000. Kelleher Financial Advisors bought a new position in shares of Linde during the 3rd quarter valued at about $149,000. Finally, 3Chopt Investment Partners LLC boosted its position in shares of Linde by 23.2% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 1,074 shares of the basic materials company's stock valued at $510,000 after purchasing an additional 202 shares in the last quarter. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Berenberg Bank reaffirmed a "buy" rating on shares of Linde in a research note on Tuesday, August 4th. The Goldman Sachs Group set a $580.00 target price on shares of Linde and gave the stock a "buy" rating in a report on Monday, August 10th. Royal Bank Of Canada increased their target price on shares of Linde from $549.00 to $568.00 and gave the company an "outperform" rating in a research note on Friday, October 30th. Bank of America raised their target price on shares of Linde from $532.00 to $550.00 and gave the stock a "neutral" rating in a report on Friday, July 17th. Finally, UBS Group lifted their price target on shares of Linde from $574.00 to $585.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $553.05.

Linde Stock Down 0.7%

Shares of Linde stock opened at $521.23 on Friday. The stock's fifty day moving average is $485.97 and its 200-day moving average is $493.93. The firm has a market capitalization of $239.29 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 3.06 and a beta of 0.67. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 0.50. Linde PLC has a 12-month low of $387.78 and a 12-month high of $548.20.

Linde (NASDAQ:LIN - Get Free Report) last announced its earnings results on Thursday, October 29th. The basic materials company reported $4.59 EPS for the quarter, beating the consensus estimate of $4.52 by $0.07. Linde had a return on equity of 20.32% and a net margin of 19.34%. The business had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $9.16 billion. During the same period in the prior year, the business posted $4.21 earnings per share. Linde's revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that Linde PLC will post 17.89 earnings per share for the current year.

Linde Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Thursday, December 3rd. Linde's payout ratio is presently 42.52%.

Insider Transactions at Linde

In other Linde news, VP Guillermo Bichara sold 9,350 shares of the company's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $518.91, for a total transaction of $4,851,808.50. Following the completion of the sale, the vice president directly owned 22,138 shares of the company's stock, valued at approximately $11,487,629.58. This represents a 29.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.30% of the company's stock.

Linde 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.

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