SteelPeak Wealth LLC Sells 10,851 Shares of Linde PLC (NASDAQ:LIN)

SteelPeak Wealth LLC reduced its position in Linde PLC (NASDAQ:LIN - Free Report) by 38.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,125 shares of the basic materials company's stock after selling 10,851 shares during the quarter. SteelPeak Wealth LLC's holdings in Linde were worth $7,974,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC acquired a new position in Linde during the fourth quarter worth $2,752,000. Revolve Wealth Partners LLC raised its holdings in Linde by 14.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 777 shares of the basic materials company's stock worth $325,000 after buying an additional 96 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Linde by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 68,460 shares of the basic materials company's stock valued at $28,662,000 after purchasing an additional 1,876 shares during the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Linde by 35.1% in the fourth quarter. Proficio Capital Partners LLC now owns 2,623 shares of the basic materials company's stock valued at $1,098,000 after purchasing an additional 682 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its holdings in shares of Linde by 80.4% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 2,253 shares of the basic materials company's stock valued at $943,000 after purchasing an additional 1,004 shares during the last quarter. 82.80% of the stock is owned by institutional investors.

Linde Stock Down 0.3%

Shares of LIN stock traded down $1.53 during mid-day trading on Friday, reaching $468.81. 1,326,438 shares of the company's stock traded hands, compared to its average volume of 1,975,504. Linde PLC has a 12 month low of $408.65 and a 12 month high of $487.49. The company has a market cap of $220.68 billion, a P/E ratio of 34.05, a P/E/G ratio of 3.32 and a beta of 0.96. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 0.45. The company's 50-day moving average price is $463.17 and its 200-day moving average price is $452.35.

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

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.28%. The ex-dividend date was Wednesday, June 4th. Linde's dividend payout ratio is 43.57%.

Wall Street Analyst Weigh In

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

Insider Activity at Linde

In related news, VP Sean Durbin sold 7,261 shares of the 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 sale, the vice president directly owned 8,151 shares of the company's stock, valued at approximately $3,720,279.42. This represents a 47.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David P. Strauss sold 1,987 shares of the 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 sale, the vice president directly owned 22,639 shares of the company's stock, valued at $10,346,928.56. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.