Phraction Management LLC Sells 1,570 Shares of Linde PLC $LIN

Key Points

• Phraction Management LLC reduced its stake in Linde PLC by 24.1%, selling 1,570 shares and holding 4,933 shares valued at approximately $2.31 million.
• Several analysts have upgraded Linde's stock, with target prices being raised significantly, indicating a positive outlook; the average target price is now $519.63.
• Linde recently reported an earnings per share (EPS) of $4.09, exceeding analyst expectations, with a 2.3% increase in revenue year-over-year for the quarter.

Phraction Management LLC lowered its stake in shares of Linde PLC (NASDAQ:LIN - Free Report) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,933 shares of the basic materials company's stock after selling 1,570 shares during the quarter. Linde comprises approximately 0.7% of Phraction Management LLC's investment portfolio, making the stock its 28th biggest position. Phraction Management LLC's holdings in Linde were worth $2,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in Linde during the fourth quarter worth about $2,752,000. Revolve Wealth Partners LLC raised its position in shares of Linde by 14.1% in the 4th quarter. Revolve Wealth Partners LLC now owns 777 shares of the basic materials company's stock valued at $325,000 after buying an additional 96 shares in the last quarter. RFG Advisory LLC bought a new stake in shares of Linde during the 1st quarter worth approximately $401,000. Apella Capital LLC acquired a new stake in shares of Linde during the 1st quarter worth approximately $267,000. Finally, Channel Wealth LLC increased its stake in Linde by 35.8% in the first quarter. Channel Wealth LLC now owns 10,028 shares of the basic materials company's stock valued at $4,669,000 after acquiring an additional 2,643 shares during the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LIN has been the subject of several recent analyst reports. Royal Bank Of Canada began coverage on Linde in a research note on Friday, June 13th. They set an "outperform" rating and a $576.00 target price for the company. Citigroup upgraded Linde from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $500.00 to $535.00 in a research report on Monday, June 30th. JPMorgan Chase & Co. lifted their target price on Linde from $470.00 to $475.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, UBS Group increased their target price on shares of Linde from $485.00 to $504.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $519.63.

Linde Trading Up 0.6%

Shares of LIN stock opened at $469.48 on Friday. Linde PLC has a twelve month low of $408.65 and a twelve month high of $487.49. The stock's fifty day simple moving average is $474.70 and its 200 day simple moving average is $464.27. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $220.14 billion, a P/E ratio of 33.39, a P/E/G ratio of 3.08 and a beta of 0.93.

Linde (NASDAQ:LIN - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The basic materials company reported $4.09 EPS for the quarter, beating analysts' consensus estimates of $4.03 by $0.06. Linde had a return on equity of 19.09% and a net margin of 20.20%.The firm had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same period last year, the firm posted $3.85 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. Linde has set its FY 2025 guidance at 16.300-16.500 EPS. Q3 2025 guidance at 4.100-4.20 EPS. As a group, sell-side analysts predict that Linde PLC will post 16.54 EPS for the current fiscal year.

Linde Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.3%. The ex-dividend date was Thursday, September 4th. Linde's dividend payout ratio is 42.67%.

Insider Activity

In other news, Director Stephen F. Angel sold 50,309 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $473.38, for a total transaction of $23,815,274.42. Following the completion of the transaction, the director owned 480,543 shares of the company's stock, valued at approximately $227,479,445.34. This trade represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.