Mackenzie Financial Corp trimmed its holdings in shares of Linde plc (NASDAQ:LIN - Free Report) by 18.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 about 0.22% of Linde worth $443,794,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Capital World Investors raised its holdings 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 worth $4,834,631,000 after purchasing an additional 2,957,604 shares during the period. Geode Capital Management LLC grew its stake in Linde by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 11,003,925 shares of the basic materials company's stock valued at $4,598,551,000 after buying an additional 30,750 shares in the last quarter. Capital Research Global Investors grew its stake in Linde by 6.4% in the 4th quarter. Capital Research Global Investors now owns 9,214,290 shares of the basic materials company's stock valued at $3,857,741,000 after buying an additional 554,480 shares in the last quarter. Norges Bank purchased a new position in Linde in the 4th quarter valued at approximately $2,901,853,000. Finally, Freemont Capital Pte Ltd purchased a new position in Linde in the 4th quarter valued at approximately $2,128,233,000. 82.80% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Linde news, 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 value of $908,138.48. Following the completion of the sale, the vice president now owns 22,639 shares in the company, valued at approximately $10,346,928.56. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.
Linde Price Performance
NASDAQ:LIN traded up $9.05 during midday trading on Tuesday, hitting $467.95. The company had a trading volume of 2,688,803 shares, compared to its average volume of 1,954,112. Linde plc has a 52-week low of $408.65 and a 52-week high of $487.49. The stock's fifty day moving average price is $451.26 and its 200-day moving average price is $447.50. The company has a market capitalization of $220.28 billion, a PE ratio of 34.38, a P/E/G ratio of 3.08 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 0.39.
Linde (NASDAQ:LIN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $3.95 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.03. The business had revenue of $8.11 billion during the quarter, compared to the consensus estimate of $8.24 billion. Linde had a net margin of 19.89% and a return on equity of 18.71%. The firm's revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.75 earnings per share. As a group, research analysts expect that Linde plc will post 16.54 earnings per share for the current year.
Linde Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders 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 annualized dividend and a yield of 1.28%. Linde's payout ratio is currently 43.57%.
Wall Street Analyst Weigh In
LIN has been the subject of a number of recent research reports. Argus upgraded shares of Linde to a "strong-buy" rating in a research note on Tuesday, April 8th. Sanford C. Bernstein upgraded shares of Linde to a "strong-buy" rating in a research report on Thursday, April 3rd. Three 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $503.11.
Get Our Latest Research Report on Linde
Linde Company Profile
(
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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