Zeno Equity Partners LLP Sells 10,554 Shares of Linde PLC $LIN

Key Points

• Zeno Equity Partners LLP reduced its stake in Linde PLC by 14.2%, selling 10,554 shares and now holds 63,824 shares worth approximately $29.7 million.
• Institutional ownership of Linde stands at 82.80%, with notable investments from several hedge funds, including Wellington Management and Price T Rowe Associates.
• Linde recently reported a quarterly earnings EPS of $4.09, exceeding estimates and announced a quarterly dividend of $1.50, indicating strong financial performance.

Zeno Equity Partners LLP cut its stake in shares of Linde PLC (NASDAQ:LIN - Free Report) by 14.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 63,824 shares of the basic materials company's stock after selling 10,554 shares during the period. Linde makes up approximately 10.2% of Zeno Equity Partners LLP's holdings, making the stock its 4th largest holding. Zeno Equity Partners LLP's holdings in Linde were worth $29,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in Linde by 5.0% during 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 acquiring an additional 453,108 shares in the last quarter. Wellington Management Group LLP lifted its position in Linde by 18.6% during the 1st quarter. Wellington Management Group LLP now owns 7,542,991 shares of the basic materials company's stock worth $3,511,751,000 after acquiring an additional 1,182,157 shares in the last quarter. Nuveen LLC acquired a new position in Linde during the 1st quarter worth approximately $2,097,793,000. Invesco Ltd. raised its position in shares of Linde by 1.1% in the 1st quarter. Invesco Ltd. now owns 3,859,539 shares of the basic materials company's stock valued at $1,797,156,000 after purchasing an additional 40,931 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Linde by 58,312.0% in the 1st quarter. GAMMA Investing LLC now owns 3,415,935 shares of the basic materials company's stock valued at $1,590,596,000 after purchasing an additional 3,410,087 shares in the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stephen F. Angel sold 50,309 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $473.38, for a total value 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 represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.70% of the company's stock.

Analyst Ratings Changes

LIN has been the topic of a number of recent analyst reports. UBS Group upped their target price on Linde from $485.00 to $504.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. upped 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. Royal Bank Of Canada initiated coverage on Linde in a research report on Friday, June 13th. They set an "outperform" rating and a $576.00 price target on the stock. Finally, Citigroup raised Linde from a "neutral" rating to a "buy" rating and upped their price target for the company from $500.00 to $535.00 in a research report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $519.63.

Linde Price Performance

Shares of LIN opened at $474.63 on Tuesday. The company has a market cap of $222.56 billion, a P/E ratio of 33.76, a PEG ratio of 3.10 and a beta of 0.95. The stock has a fifty day moving average price of $472.54 and a 200 day moving average price of $462.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.93 and a quick ratio of 0.78. Linde PLC has a 12 month low of $408.65 and a 12 month high of $487.49.

Linde (NASDAQ:LIN - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The basic materials company reported $4.09 EPS for the quarter, topping analysts' consensus estimates of $4.03 by $0.06. The firm 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 19.09% and a net margin of 20.20%.The firm's revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $3.85 EPS. Linde has set its FY 2025 guidance at 16.300-16.500 EPS. Q3 2025 guidance at 4.100-4.20 EPS. On average, research analysts forecast that Linde PLC will post 16.54 earnings per share for the current year.

Linde Announces Dividend

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

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.

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