Linde plc (NASDAQ:LIN) Holdings Reduced by Ardevora Asset Management LLP

Ardevora Asset Management LLP cut its stake in Linde plc (NASDAQ:LIN - Free Report) by 51.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,064 shares of the basic materials company's stock after selling 42,158 shares during the period. Linde comprises approximately 1.5% of Ardevora Asset Management LLP's portfolio, making the stock its 18th largest position. Ardevora Asset Management LLP's holdings in Linde were worth $16,455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Carmel Capital Partners LLC purchased a new stake in shares of Linde in the third quarter valued at about $26,000. Annapolis Financial Services LLC raised its holdings in shares of Linde by 122.6% in the third quarter. Annapolis Financial Services LLC now owns 69 shares of the basic materials company's stock valued at $26,000 after buying an additional 38 shares during the last quarter. Provence Wealth Management Group purchased a new stake in shares of Linde in the third quarter valued at about $29,000. FWL Investment Management LLC purchased a new stake in shares of Linde in the fourth quarter valued at about $30,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Linde in the fourth quarter valued at about $36,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

Linde Price Performance

Shares of LIN stock traded down $0.13 during trading hours on Friday, hitting $446.30. The company's stock had a trading volume of 1,831,208 shares, compared to its average volume of 1,488,572. The business has a fifty day moving average of $453.89 and a 200-day moving average of $418.89. The stock has a market cap of $214.93 billion, a price-to-earnings ratio of 35.42, a P/E/G ratio of 2.91 and a beta of 0.93. Linde plc has a twelve month low of $350.60 and a twelve month high of $477.71. The company has a current ratio of 0.80, a quick ratio of 0.67 and a debt-to-equity ratio of 0.33.

Linde (NASDAQ:LIN - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The basic materials company reported $3.59 EPS for the quarter, beating the consensus estimate of $3.49 by $0.10. The business had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.04 billion. Linde had a net margin of 18.87% and a return on equity of 17.06%. The company's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.16 earnings per share. As a group, equities research analysts anticipate that Linde plc will post 15.58 EPS for the current year.

Linde Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $1.39 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Linde's previous quarterly dividend of $0.88. This represents a $5.56 annualized dividend and a dividend yield of 1.25%. Linde's dividend payout ratio is currently 44.13%.

Analyst Ratings Changes

Several research firms recently issued reports on LIN. Seaport Res Ptn cut shares of Linde from a "buy" rating to a "neutral" rating in a report on Monday, January 8th. Citigroup cut shares of Linde from a "buy" rating to a "neutral" rating and increased their price target for the stock from $475.00 to $500.00 in a report on Wednesday, April 10th. Wolfe Research began coverage on shares of Linde in a report on Friday, March 1st. They set a "peer perform" rating for the company. Wells Fargo & Company increased their price target on shares of Linde from $480.00 to $540.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. Finally, Mizuho raised shares of Linde from a "neutral" rating to a "buy" rating and set a $510.00 price target for the company in a report on Thursday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $456.79.

Insider Activity

In related news, VP Sean Durbin sold 5,277 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $467.39, for a total transaction of $2,466,417.03. Following the sale, the vice president now owns 8,151 shares in the company, valued at $3,809,695.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Oliver Pfann sold 300 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $414.61, for a total transaction of $124,383.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sean Durbin sold 5,277 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $467.39, for a total transaction of $2,466,417.03. Following the transaction, the vice president now directly owns 8,151 shares in the company, valued at approximately $3,809,695.89. The disclosure for this sale can be found here. Insiders have sold 78,248 shares of company stock worth $35,811,988 over the last ninety days. 0.70% of the stock is currently owned by insiders.

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.