Linde PLC (NASDAQ:LIN) Position Decreased by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. reduced its holdings in Linde PLC by 10.6%, now owning 6,971 shares worth approximately $3.25 million after selling 829 shares in the first quarter.
• Analysts have shown an optimistic outlook on Linde, with multiple upgrades; Citigroup raised its rating to "buy" with a price target increase from $500 to $535.
• Linde recently declared a quarterly dividend of $1.50 per share, representing a 1.27% annualized yield, with a payout ratio of 43.57%.

Nikko Asset Management Americas Inc. trimmed its holdings in shares of Linde PLC (NASDAQ:LIN - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,971 shares of the basic materials company's stock after selling 829 shares during the quarter. Nikko Asset Management Americas Inc.'s holdings in Linde were worth $3,246,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC boosted its holdings in 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 purchasing an additional 22 shares during the last quarter. Diversify Advisory Services LLC raised its position in shares of Linde by 2.5% during the 1st quarter. Diversify Advisory Services LLC now owns 999 shares of the basic materials company's stock worth $450,000 after purchasing an additional 24 shares during the last quarter. IFP Advisors Inc raised its position in shares of Linde by 0.8% during the 1st quarter. IFP Advisors Inc now owns 3,207 shares of the basic materials company's stock worth $1,493,000 after purchasing an additional 24 shares during the last quarter. Rockingstone Advisors LLC raised its position in shares of Linde by 0.3% during the 1st quarter. Rockingstone Advisors LLC now owns 8,340 shares of the basic materials company's stock worth $3,883,000 after purchasing an additional 25 shares during the last quarter. Finally, Trifecta Capital Advisors LLC raised its position in shares of Linde by 20.2% during the 1st quarter. Trifecta Capital Advisors LLC now owns 149 shares of the basic materials company's stock worth $69,000 after purchasing an additional 25 shares during the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

Linde Price Performance

LIN traded down $1.76 during midday trading on Wednesday, reaching $469.75. 324,757 shares of the company's stock were exchanged, compared to its average volume of 2,119,885. The business's 50-day moving average price is $466.90 and its 200 day moving average price is $457.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.94 and a quick ratio of 0.80. The stock has a market capitalization of $221.12 billion, a PE ratio of 34.11, a P/E/G ratio of 3.30 and a beta of 0.96. Linde PLC has a 1-year low of $408.65 and a 1-year high of $487.49.

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

Insider Activity at Linde

In other Linde news, 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David P. Strauss sold 1,987 shares of the stock in a transaction dated 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 in the company, valued at approximately $10,346,928.56. This trade represents a 8.07% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Citigroup raised shares of Linde from a "neutral" rating to a "buy" rating and upped their price objective for the company from $500.00 to $535.00 in a research note on Monday, June 30th. UBS Group increased their price target on shares of Linde from $485.00 to $504.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada began coverage on shares of Linde in a research note on Friday, June 13th. They issued an "outperform" rating and a $576.00 price target for the company. Sanford C. Bernstein raised shares of Linde to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, Argus upgraded shares of Linde to a "strong-buy" rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $518.80.

Linde Company Profile

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.