SteelPeak Wealth LLC Buys 28,530 Shares of Linde PLC $LIN

Key Points

• SteelPeak Wealth LLC has increased its stake in Linde PLC by 166.6%, purchasing an additional 28,530 shares in the second quarter, bringing its total holdings to 45,655 shares valued at approximately $21.4 million.
• Linde recently announced a quarterly dividend of $1.50 per share, translating to an annualized dividend of $6.00 and a yield of 1.3%.
• The company's latest earnings report showed a quarterly earnings per share of $4.09, surpassing estimates, with year-over-year revenue growth of 2.3%.

SteelPeak Wealth LLC boosted its position in Linde PLC (NASDAQ:LIN - Free Report) by 166.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,655 shares of the basic materials company's stock after purchasing an additional 28,530 shares during the quarter. Linde makes up approximately 0.8% of SteelPeak Wealth LLC's investment portfolio, making the stock its 29th largest holding. SteelPeak Wealth LLC's holdings in Linde were worth $21,421,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LIN. Price T Rowe Associates Inc. MD grew its position in shares of Linde by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,600,297 shares of the basic materials company's stock worth $4,470,284,000 after buying an additional 453,108 shares during the last quarter. Wellington Management Group LLP grew its holdings in Linde by 18.6% in the first quarter. Wellington Management Group LLP now owns 7,542,991 shares of the basic materials company's stock worth $3,511,751,000 after purchasing an additional 1,182,157 shares during the last quarter. Nuveen LLC purchased a new position in Linde in the first quarter worth $2,097,793,000. Invesco Ltd. increased its position in shares of Linde by 1.1% during the first quarter. Invesco Ltd. now owns 3,859,539 shares of the basic materials company's stock worth $1,797,156,000 after purchasing an additional 40,931 shares in the last quarter. Finally, WCM Investment Management LLC lifted its holdings in shares of Linde by 0.3% during the 1st quarter. WCM Investment Management LLC now owns 3,339,761 shares of the basic materials company's stock valued at $1,533,318,000 after purchasing an additional 9,870 shares during the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Linde news, Director Stephen F. Angel sold 50,309 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $473.38, for a total transaction of $23,815,274.42. Following the sale, the director directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company's stock.

Linde Trading Up 0.4%

Linde stock opened at $468.55 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.93 and a debt-to-equity ratio of 0.49. Linde PLC has a 52 week low of $408.65 and a 52 week high of $487.49. The company has a market capitalization of $219.71 billion, a price-to-earnings ratio of 33.33, a price-to-earnings-growth ratio of 3.08 and a beta of 0.93. The stock has a 50-day moving average price of $474.59 and a 200 day moving average price of $464.46.

Linde (NASDAQ:LIN - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The basic materials company reported $4.09 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.06. Linde had a net margin of 20.20% and a return on equity of 19.09%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the prior year, the company earned $3.85 EPS. Linde's quarterly revenue 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. Sell-side analysts anticipate that Linde PLC will post 16.54 EPS for the current year.

Linde Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group dropped their target price on Linde from $510.00 to $507.00 and set a "neutral" rating on the stock in a research note on Monday. Weiss Ratings restated a "buy (b)" rating on shares of Linde in a research note on Saturday, September 27th. Royal Bank Of Canada began coverage on shares of Linde in a research report on Friday, June 13th. They issued an "outperform" rating and a $576.00 price objective for the company. Citigroup lifted their target price on shares of Linde from $530.00 to $535.00 and gave the stock a "buy" rating in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price target on shares of Linde from $470.00 to $475.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $520.00.

Linde 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.

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