Cullinan Associates Inc. purchased a new position in shares of Linde PLC (NYSE:LIN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,043 shares of the basic materials company’s stock, valued at approximately $2,659,000.
A number of other large investors have also recently added to or reduced their stakes in LIN. Confluence Investment Management LLC acquired a new position in Linde during the fourth quarter worth $115,455,000. Retirement Systems of Alabama acquired a new stake in shares of Linde in the fourth quarter valued at $39,554,000. State of Alaska Department of Revenue acquired a new stake in shares of Linde in the fourth quarter valued at $12,542,000. Chesley Taft & Associates LLC acquired a new stake in shares of Linde in the fourth quarter valued at $3,098,000. Finally, Neville Rodie & Shaw Inc. acquired a new stake in shares of Linde in the fourth quarter valued at $2,910,000. Institutional investors own 75.34% of the company’s stock.
In other Linde news, insider Eduardo F. Menezes sold 6,335 shares of the firm’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $156.00, for a total value of $988,260.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert L. Wood sold 1,800 shares of the firm’s stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $158.03, for a total value of $284,454.00. The disclosure for this sale can be found here. 0.23% of the stock is owned by company insiders.
The firm also recently declared a special dividend, which was paid on Thursday, December 27th. Shareholders of record on Tuesday, December 18th were paid a $0.825 dividend. The ex-dividend date of this dividend was Monday, December 17th. Linde’s dividend payout ratio is presently 42.22%.
Several analysts have recently issued reports on the company. Zacks Investment Research cut Linde from a “hold” rating to a “sell” rating in a research note on Tuesday. Societe Generale assumed coverage on Linde in a research note on Tuesday. They issued a “buy” rating and a $190.00 price objective on the stock. Commerzbank reiterated a “neutral” rating on shares of Linde in a research note on Thursday, November 15th. Citigroup assumed coverage on Linde in a research note on Monday, January 7th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets assumed coverage on Linde in a research note on Tuesday, November 6th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $184.33.
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Linde Company Profile
Linde plc operates as an industrial gas and engineering company. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene, shielding gases, and noble gases, as well as develops and distributes procedures and systems for gas applications.
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