Mackenzie Financial Corp lowered its holdings in Linde plc (NASDAQ:LIN - Free Report) by 18.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,060,008 shares of the basic materials company's stock after selling 231,927 shares during the period. Mackenzie Financial Corp owned approximately 0.22% of Linde worth $443,794,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Linde in the 4th quarter valued at approximately $2,901,853,000. Freemont Capital Pte Ltd bought a new stake in shares of Linde in the 4th quarter valued at $2,128,233,000. Capital World Investors boosted its stake in shares of Linde by 34.4% in the 4th quarter. Capital World Investors now owns 11,547,765 shares of the basic materials company's stock valued at $4,834,631,000 after purchasing an additional 2,957,604 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in Linde during the fourth quarter worth $468,360,000. Finally, Proficio Capital Partners LLC boosted its stake in Linde by 56,467.9% during the fourth quarter. Proficio Capital Partners LLC now owns 1,097,982 shares of the basic materials company's stock worth $459,692,000 after acquiring an additional 1,096,041 shares in the last quarter. 82.80% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have weighed in on LIN shares. Argus upgraded shares of Linde to a "strong-buy" rating in a report on Tuesday, April 8th. Sanford C. Bernstein upgraded shares of Linde to a "strong-buy" rating in a report on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $503.11.
Read Our Latest Research Report on Linde
Linde Stock Performance
LIN stock traded up $1.57 during midday trading on Thursday, reaching $464.08. 577,579 shares of the company's stock traded hands, compared to its average volume of 1,952,690. Linde plc has a 52-week low of $408.65 and a 52-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. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. The stock's 50-day moving average is $451.55 and its 200 day moving average is $447.74.
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, topping analysts' consensus estimates of $3.92 by $0.03. The firm had revenue of $8.11 billion during the quarter, compared to analysts' expectations of $8.24 billion. Linde had a net margin of 19.89% and a return on equity of 18.71%. The company's revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.75 earnings per share. As a group, analysts anticipate that Linde plc will post 16.54 EPS for the current year.
Linde Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $1.50 per share. The ex-dividend date is Wednesday, June 4th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.29%. Linde's dividend payout ratio is 43.57%.
Insider Buying and Selling
In other Linde news, VP David P. Strauss sold 2,477 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $469.74, for a total transaction of $1,163,545.98. Following the completion of the transaction, the vice president now owns 1,300 shares in the company, valued at $610,662. This trade represents a 65.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sean Durbin sold 7,261 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $456.42, for a total transaction of $3,314,065.62. Following the transaction, the vice president now owns 8,151 shares of the company's stock, valued at $3,720,279.42. This trade represents a 47.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,725 shares of company stock worth $5,385,750. 0.70% of the stock is owned by insiders.
About Linde
(
Free Report)
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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