Linde PLC $LIN Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC has reduced its stake in Linde PLC by 2.5%, owning 53,977 shares worth approximately $25.3 million.
• Linde recently reported an EPS of $4.09 for the last quarter, exceeding expectations and marking a year-over-year revenue increase of 2.3% to $8.50 billion.
• The company declared a quarterly dividend of $1.50 per share, yielding 1.3%, with a dividend payout ratio of 42.67%.

Mutual of America Capital Management LLC reduced its position in shares of Linde PLC (NASDAQ:LIN - Free Report) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,977 shares of the basic materials company's stock after selling 1,389 shares during the period. Mutual of America Capital Management LLC's holdings in Linde were worth $25,325,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC raised its holdings in Linde by 1.3% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 249,742 shares of the basic materials company's stock valued at $117,174,000 after acquiring an additional 3,230 shares in the last quarter. Truist Financial Corp raised its holdings in Linde by 75.0% in the first quarter. Truist Financial Corp now owns 193,563 shares of the basic materials company's stock valued at $90,131,000 after acquiring an additional 82,952 shares in the last quarter. Freedom Day Solutions LLC raised its holdings in Linde by 9.6% in the first quarter. Freedom Day Solutions LLC now owns 6,102 shares of the basic materials company's stock valued at $2,841,000 after acquiring an additional 535 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Linde by 25.9% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 23,558 shares of the basic materials company's stock valued at $10,970,000 after acquiring an additional 4,839 shares in the last quarter. Finally, Hourglass Capital LLC acquired a new stake in Linde in the first quarter valued at $935,000. 82.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LIN. UBS Group cut their price target on shares of Linde from $510.00 to $507.00 and set a "neutral" rating on the stock in a report on Monday, October 6th. Weiss Ratings reiterated a "buy (b)" rating on shares of Linde in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted 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. Finally, Citigroup boosted their target price on shares of Linde from $530.00 to $535.00 and gave the company a "buy" rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $520.00.

Linde Stock Up 1.5%

LIN stock opened at $450.89 on Friday. The firm has a fifty day moving average price of $472.69 and a two-hundred day moving average price of $464.07. The firm has a market cap of $211.43 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 2.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.93 and a quick ratio of 0.78. Linde PLC has a 1-year low of $408.65 and a 1-year high of $487.27.

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

Linde Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $1.50 per share. The ex-dividend date was Thursday, September 4th. This represents a $6.00 annualized dividend and a dividend yield of 1.3%. Linde's dividend payout ratio is currently 42.67%.

Insider Activity at Linde

In other news, Director Stephen F. Angel sold 50,309 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $473.38, for a total transaction of $23,815,274.42. Following the completion of the transaction, the director owned 480,543 shares in the company, valued at approximately $227,479,445.34. This represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company's stock.

About Linde

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.