Nixon Peabody Trust Co. lowered its stake in shares of Linde plc (NASDAQ:LIN - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,580 shares of the basic materials company's stock after selling 4,937 shares during the period. Linde accounts for 1.4% of Nixon Peabody Trust Co.'s investment portfolio, making the stock its 25th biggest holding. Nixon Peabody Trust Co.'s holdings in Linde were worth $16,102,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Linde in the fourth quarter valued at approximately $2,901,853,000. Freemont Capital Pte Ltd purchased a new position in Linde in the 4th quarter valued at approximately $2,128,233,000. GAMMA Investing LLC grew its stake in Linde by 58,312.0% in the 1st quarter. GAMMA Investing LLC now owns 3,415,935 shares of the basic materials company's stock valued at $1,590,596,000 after buying an additional 3,410,087 shares in the last quarter. Capital World Investors raised its holdings in Linde by 34.4% during 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 acquiring an additional 2,957,604 shares during the period. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Linde during the fourth quarter worth $468,360,000. Institutional investors own 82.80% of the company's stock.
Linde Price Performance
Shares of NASDAQ LIN traded down $3.51 during mid-day trading on Thursday, reaching $470.26. 1,678,826 shares of the company were exchanged, compared to its average volume of 1,964,110. The company's 50 day moving average price is $452.28 and its 200 day moving average price is $448.21. Linde plc has a 52 week low of $408.65 and a 52 week high of $487.49. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $221.36 billion, a PE ratio of 34.55, a PEG ratio of 3.08 and a beta of 1.00.
Linde (NASDAQ:LIN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $3.95 EPS for the quarter, beating the consensus estimate of $3.92 by $0.03. The firm had revenue of $8.11 billion for the quarter, compared to analyst estimates of $8.24 billion. Linde had a return on equity of 18.71% and a net margin of 19.89%. The company's revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $3.75 EPS. Sell-side analysts forecast that Linde plc will post 16.54 earnings per share for the current fiscal year.
Linde Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $1.50 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.28%. Linde's payout ratio is 43.57%.
Analyst Ratings Changes
A number of research firms recently issued reports on LIN. Argus upgraded Linde to a "strong-buy" rating in a research note on Tuesday, April 8th. Sanford C. Bernstein raised Linde to a "strong-buy" rating in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $503.11.
Read Our Latest Stock Analysis on LIN
Insider Activity
In other news, VP Sean Durbin sold 7,261 shares of Linde 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 transaction, the vice president now owns 8,151 shares in the company, valued at approximately $3,720,279.42. The trade was a 47.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David P. Strauss sold 1,987 shares of the 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 sale, the vice president now owns 22,639 shares of the company's stock, 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. 0.70% of the stock is owned by corporate insiders.
Linde Profile
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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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