US Bancorp DE Has $156.26 Million Holdings in Linde PLC (NASDAQ:LIN)

Key Points

• US Bancorp DE increased its stake in Linde PLC by 8.4% after acquiring an additional 26,106 shares, bringing its total ownership to approximately 335,578 shares valued at $156.26 million.
• Linde recently reported earnings of $3.95 per share, slightly surpassing expectations, with revenues of $8.11 billion for the quarter, reflecting a year-over-year increase of 0.1%.
• The company announced a quarterly dividend of $1.50 per share, translating to an annualized dividend of $6.00 and a yield of 1.3%, with a payout ratio of 43.57%.

US Bancorp DE boosted its position in shares of Linde PLC (NASDAQ:LIN - Free Report) by 8.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 335,578 shares of the basic materials company's stock after purchasing an additional 26,106 shares during the quarter. US Bancorp DE owned about 0.07% of Linde worth $156,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Freemont Capital Pte Ltd bought a new stake in Linde during the 4th quarter worth approximately $2,128,233,000. GAMMA Investing LLC increased its stake in Linde by 58,312.0% during the 1st quarter. GAMMA Investing LLC now owns 3,415,935 shares of the basic materials company's stock worth $1,590,596,000 after purchasing an additional 3,410,087 shares in the last quarter. Capital World Investors increased its stake 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 worth $4,834,631,000 after purchasing an additional 2,957,604 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Linde during the 4th quarter worth approximately $468,360,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Linde during the 4th quarter worth approximately $386,957,000. 82.80% of the stock is owned by institutional investors.

Linde Stock Performance

Linde stock traded down $0.85 during mid-day trading on Friday, hitting $459.41. 2,219,331 shares of the company's stock traded hands, compared to its average volume of 1,481,246. The firm has a 50 day simple moving average of $467.15 and a two-hundred day simple moving average of $457.76. Linde PLC has a fifty-two week low of $408.65 and a fifty-two week high of $487.49. The stock has a market cap of $216.26 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 3.24 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.94 and a quick ratio of 0.80.

Linde (NASDAQ:LIN - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The basic materials company reported $4.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.06. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.35 billion. Linde had a return on equity of 18.95% and a net margin of 20.02%. The company's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.85 EPS. On average, research analysts expect that Linde PLC will post 16.54 EPS for the current fiscal year.

Linde Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $1.50 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.00 annualized dividend and a yield of 1.3%. Linde's dividend payout ratio (DPR) is presently 42.67%.

Insider Buying and Selling at Linde

In other Linde news, VP David P. Strauss sold 1,987 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $457.04, for a total transaction of $908,138.48. Following the transaction, the vice president owned 22,639 shares in the company, valued at $10,346,928.56. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sean Durbin sold 7,261 shares of the firm's stock in a transaction on 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 completion of the transaction, the vice president owned 8,151 shares in the company, valued at $3,720,279.42. The trade was a 47.11% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LIN. Royal Bank Of Canada began coverage on Linde in a research report on Friday, June 13th. They set an "outperform" rating and a $576.00 price target for the company. UBS Group increased their price objective on Linde from $485.00 to $504.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Argus raised Linde to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Citigroup raised Linde from a "neutral" rating to a "buy" rating and increased their price objective for the company from $500.00 to $535.00 in a report on Monday, June 30th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Linde has an average rating of "Buy" and an average price target of $518.80.

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.