Reliant Investment Management LLC Purchases New Stake in Linde PLC $LIN

Key Points

• Reliant Investment Management purchased 17,343 Linde shares worth approximately $8.23 million, making Linde 2.8% of its portfolio. Institutional investors collectively own 82.8% of the company.
• Analysts remain broadly bullish, with Linde receiving an average “Buy” rating and a consensus price target of $547.29, despite several recent target-price reductions.
• Linde exceeded quarterly expectations with $4.50 in EPS and $9.29 billion in revenue, while reporting 9.3% year-over-year revenue growth. The company also pays a $1.60 quarterly dividend, equivalent to a 1.3% yield.

Reliant Investment Management LLC purchased a new position in shares of Linde PLC (NASDAQ:LIN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 17,343 shares of the basic materials company's stock, valued at approximately $8,232,000. Linde comprises approximately 2.8% of Reliant Investment Management LLC's portfolio, making the stock its 13th biggest holding.

A number of other large investors have also bought and sold shares of the stock. State Street Corp lifted its position in Linde by 3.7% in the second quarter. State Street Corp now owns 20,344,181 shares of the basic materials company's stock valued at $10,558,016,000 after purchasing an additional 719,052 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Linde by 26.0% during the fourth quarter. Invesco Ltd. now owns 5,402,317 shares of the basic materials company's stock valued at $2,303,494,000 after purchasing an additional 1,114,751 shares during the period. Amundi grew its holdings in shares of Linde by 13.4% in the first quarter. Amundi now owns 3,162,409 shares of the basic materials company's stock worth $1,567,796,000 after purchasing an additional 373,012 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Linde by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,740,541 shares of the basic materials company's stock worth $1,358,712,000 after purchasing an additional 64,078 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Linde by 18.0% in the fourth quarter. Royal Bank of Canada now owns 2,250,532 shares of the basic materials company's stock worth $959,605,000 after purchasing an additional 343,161 shares during the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LIN. The Goldman Sachs Group set a $580.00 target price on shares of Linde and gave the stock a "buy" rating in a research note on Monday, August 10th. UBS Group dropped their price target on shares of Linde from $612.00 to $574.00 and set a "buy" rating for the company in a research report on Monday, October 5th. DZ Bank restated a "neutral" rating on shares of Linde in a report on Thursday, August 6th. Argus reduced their price target on Linde from $563.00 to $538.00 and set a "buy" rating on the stock in a report on Monday, September 28th. Finally, Citigroup lowered their price target on Linde from $580.00 to $560.00 and set a "buy" rating for the company in a research report on Wednesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $547.29.

Linde Stock Performance

Shares of LIN stock opened at $492.70 on Thursday. The stock has a fifty day moving average of $478.29 and a 200 day moving average of $498.13. Linde PLC has a 52 week low of $387.78 and a 52 week high of $548.20. The firm has a market capitalization of $227.12 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.87 and a beta of 0.71. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 0.51.

Linde (NASDAQ:LIN - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The basic materials company reported $4.50 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.01. Linde had a net margin of 20.43% and a return on equity of 20.09%. The business had revenue of $9.29 billion for the quarter, compared to analysts' expectations of $9.02 billion. During the same quarter in the previous year, the business posted $4.09 earnings per share. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. Linde has set its FY 2026 guidance at 17.700-17.900 EPS and its Q3 2026 guidance at 4.450-4.550 EPS. As a group, research analysts expect that Linde PLC will post 17.86 earnings per share for the current year.

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were given a $1.60 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $6.40 annualized dividend and a dividend yield of 1.3%. Linde's dividend payout ratio is currently 41.34%.

Linde Company Profile

Linde plc NASDAQ: LIN is a global industrial gases and engineering company that supplies gases, related equipment and process technologies to customers in healthcare, manufacturing, chemicals, energy, food and beverage, electronics, and other industries. Its products include oxygen, nitrogen, argon, hydrogen, helium, carbon dioxide and specialty gases.

The company provides gases through on-site production facilities, pipelines, bulk deliveries and packaged cylinders. It also designs and builds industrial gas plants and offers technologies and services for applications such as hydrogen production, carbon capture, clean energy, semiconductor manufacturing, metal fabrication and medical care.

Linde traces its history to 1879, when German engineer Carl von Linde developed refrigeration and gas-related technologies.

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.