Mackenzie Financial Corp Has $431.24 Million Position in Linde PLC (NASDAQ:LIN)

Key Points

• Mackenzie Financial Corp has reduced its holdings in Linde PLC by 12.6%, now owning 926,131 shares valued at approximately $431.24 million as of the latest SEC filing.
• Institutional investors collectively own 82.80% of Linde's stock, indicating strong institutional confidence in the company.
• Analysts have given Linde a consensus "Buy" rating with a price target of $518.80, reflecting positive market sentiment for future performance.

Mackenzie Financial Corp lessened its holdings in Linde PLC (NASDAQ:LIN - Free Report) by 12.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 926,131 shares of the basic materials company's stock after selling 133,877 shares during the quarter. Mackenzie Financial Corp owned 0.20% of Linde worth $431,244,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. North Capital Inc. bought a new stake in Linde during the first quarter worth $25,000. Putney Financial Group LLC bought a new stake in shares of Linde in the fourth quarter valued at about $31,000. Dunhill Financial LLC bought a new stake in shares of Linde in the fourth quarter valued at about $34,000. New Age Alpha Advisors LLC boosted its position in shares of Linde by 34.9% in the fourth quarter. New Age Alpha Advisors LLC now owns 85 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 22 shares during the period. Finally, Capital A Wealth Management LLC bought a new stake in Linde during the fourth quarter worth about $37,000. Institutional investors own 82.80% of the company's stock.

Insider Transactions at Linde

In related news, VP Sean Durbin sold 7,261 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $456.42, for a total value of $3,314,065.62. Following the sale, the vice president directly owned 8,151 shares in the company, valued at approximately $3,720,279.42. The trade was a 47.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David P. Strauss sold 1,987 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $457.04, for a total value of $908,138.48. Following the completion of the sale, the vice president owned 22,639 shares in the company, 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. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citigroup raised shares of Linde from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $500.00 to $535.00 in a research report on Monday, June 30th. Royal Bank Of Canada initiated coverage on shares of Linde in a report on Friday, June 13th. They issued an "outperform" rating and a $576.00 price objective for the company. Sanford C. Bernstein raised shares of Linde to a "strong-buy" rating in a research report on Thursday, April 3rd. UBS Group raised their price target on shares of Linde from $485.00 to $504.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Finally, Argus raised 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 given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Linde presently has a consensus rating of "Buy" and a consensus price target of $518.80.

Linde Stock Up 0.3%

LIN stock opened at $472.89 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.80 and a current ratio of 0.94. The company has a market capitalization of $222.60 billion, a price-to-earnings ratio of 34.34, a PEG ratio of 3.34 and a beta of 0.96. Linde PLC has a fifty-two week low of $408.65 and a fifty-two week high of $487.49. The stock has a fifty day moving average of $466.53 and a 200-day moving average of $456.52.

Linde (NASDAQ:LIN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $3.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.92 by $0.03. Linde had a return on equity of 18.95% and a net margin of 20.02%. The business had revenue of $8.11 billion for the quarter, compared to analysts' expectations of $8.24 billion. During the same period in the previous year, the business posted $3.75 EPS. The firm's quarterly revenue was up .1% compared to the same quarter last year. As a group, equities research analysts predict that Linde PLC will post 16.54 earnings per share for the current year.

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.

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