Modera Wealth Management LLC Makes New Investment in Linde PLC $LIN

Key Points

• Modera Wealth Management purchased 1,959 Linde shares worth approximately $930,000 in the third quarter. Other institutions also increased their holdings, with institutional investors owning 82.8% of the stock.
• Linde reported quarterly EPS of $4.59, beating estimates by $0.07, while revenue rose 9.3% year over year to $9.40 billion. Shares opened at $519.72, near the upper end of their 52-week range.
• The company declared a quarterly dividend of $1.60, equivalent to $6.40 annually and a 1.2% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $553.05.

Modera Wealth Management LLC bought a new stake in shares of Linde PLC (NASDAQ:LIN - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,959 shares of the basic materials company's stock, valued at approximately $930,000.

Several other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in Linde by 443.1% during the 3rd quarter. International Assets Investment Management LLC now owns 6,588 shares of the basic materials company's stock worth $3,127,000 after acquiring an additional 5,375 shares in the last quarter. Payden & Rygel purchased a new position in Linde during the 3rd quarter valued at about $8,079,000. Parcion Private Wealth LLC increased its position in Linde by 7.8% during the 3rd quarter. Parcion Private Wealth LLC now owns 18,223 shares of the basic materials company's stock valued at $8,650,000 after purchasing an additional 1,321 shares during the period. Soltis Investment Advisors LLC raised its holdings in shares of Linde by 31.9% in the 3rd quarter. Soltis Investment Advisors LLC now owns 3,361 shares of the basic materials company's stock valued at $1,595,000 after purchasing an additional 812 shares in the last quarter. Finally, Founders Financial Securities LLC bought a new stake in shares of Linde in the 3rd quarter valued at about $2,498,000. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Linde Price Performance

Shares of LIN stock opened at $519.72 on Tuesday. Linde PLC has a 1-year low of $387.78 and a 1-year high of $548.20. The stock's 50-day moving average is $484.17 and its 200 day moving average is $492.74. The company has a market cap of $239.58 billion, a P/E ratio of 34.53, a PEG ratio of 2.96 and a beta of 0.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.88 and a quick ratio of 0.75.

Linde (NASDAQ:LIN - Get Free Report) last posted its earnings results on Thursday, October 29th. The basic materials company reported $4.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.07. The company had revenue of $9.40 billion for the quarter, compared to analyst estimates of $9.16 billion. Linde had a return on equity of 20.09% and a net margin of 20.43%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.21 earnings per share. Research analysts predict that Linde PLC will post 17.88 earnings per share for the current fiscal year.

Linde Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, December 3rd. Linde's dividend payout ratio (DPR) is currently 42.52%.

Wall Street Analysts Forecast Growth

LIN has been the subject of several research reports. UBS Group upped their price target on shares of Linde from $574.00 to $585.00 and gave the stock a "buy" rating in a research report on Friday. Bank of America increased their price objective on shares of Linde from $532.00 to $550.00 and gave the company a "neutral" rating in a research note on Friday, July 17th. Sanford C. Bernstein reissued an "outperform" rating on shares of Linde in a report on Monday, October 5th. Mizuho set a $583.00 price objective on shares of Linde in a research note on Thursday. Finally, Berenberg Bank reissued a "buy" rating on shares of Linde in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Linde presently has an average rating of "Moderate Buy" and an average target price of $553.05.

About Linde

Linde plc NASDAQ: LIN is a global industrial gases and engineering company. It produces and distributes atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide and specialty gases. The company serves customers through packaged gases, bulk deliveries, on-site production and pipeline systems.

Linde's products and services support a broad range of industries, including healthcare, food and beverage, manufacturing, chemicals, energy, refining, electronics and metals.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.