Synovus Financial Corp Has $11.68 Million Stock Position in Linde PLC $LIN

Key Points

• Synovus Financial Corp increased its holdings in Linde PLC by 6.5% during the first quarter, owning 25,074 shares valued at approximately $11.68 million.
• Linde reported a quarterly earnings per share (EPS) of $4.09, exceeding estimates, with revenues of $8.50 billion for the quarter, marking a 2.3% increase year-over-year.
• The company declared a quarterly dividend of $1.50 per share, with a scheduled payment date of September 18th, reflecting a 1.2% dividend yield.

Synovus Financial Corp grew its position in shares of Linde PLC (NASDAQ:LIN - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,074 shares of the basic materials company's stock after buying an additional 1,537 shares during the quarter. Synovus Financial Corp's holdings in Linde were worth $11,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in Linde by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,600,297 shares of the basic materials company's stock valued at $4,470,284,000 after acquiring an additional 453,108 shares in the last quarter. Wellington Management Group LLP grew its holdings in Linde by 18.6% during the first quarter. Wellington Management Group LLP now owns 7,542,991 shares of the basic materials company's stock valued at $3,511,751,000 after purchasing an additional 1,182,157 shares during the last quarter. Freemont Capital Pte Ltd acquired a new position in Linde during the fourth quarter valued at approximately $2,128,233,000. Northern Trust Corp grew its holdings in Linde by 11.3% during the fourth quarter. Northern Trust Corp now owns 4,925,322 shares of the basic materials company's stock valued at $2,062,085,000 after purchasing an additional 500,489 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Linde during the first quarter valued at approximately $2,097,793,000. Institutional investors own 82.80% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Linde

In other news, Director Stephen F. Angel sold 50,309 shares of the firm's stock in a transaction that occurred 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 sale, 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 filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company's stock.

Linde Stock Performance

LIN stock traded up $0.79 during midday trading on Wednesday, hitting $482.71. The stock had a trading volume of 2,259,628 shares, compared to its average volume of 1,496,574. The firm has a market capitalization of $226.35 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 3.18 and a beta of 0.92. Linde PLC has a 52 week low of $408.65 and a 52 week high of $487.49. The stock has a 50-day simple moving average of $469.94 and a 200 day simple moving average of $461.48. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 0.49.

Linde (NASDAQ:LIN - Get Free Report) last issued its earnings results on Friday, August 1st. The basic materials company reported $4.09 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $8.35 billion. During the same period last year, the business earned $3.85 earnings per share. Linde's quarterly revenue was up 2.3% compared to the same quarter last year. 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, equities research analysts anticipate that Linde PLC will post 16.54 earnings per share for the current year.

Linde Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a $1.50 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.00 dividend on an annualized basis and a yield of 1.2%. Linde's payout ratio is 42.67%.

About Linde

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.