Ascension Asset Management LLC Sells 425 Shares of Linde PLC (NYSE:LIN)

Ascension Asset Management LLC cut its holdings in shares of Linde PLC (NYSE:LIN) by 5.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,788 shares of the basic materials company’s stock after selling 425 shares during the quarter. Ascension Asset Management LLC’s holdings in Linde were worth $1,509,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Linde by 252.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,000,888 shares of the basic materials company’s stock valued at $2,008,178,000 after purchasing an additional 7,159,363 shares during the period. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Linde by 41.2% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 6,929,763 shares of the basic materials company’s stock valued at $1,391,497,000 after purchasing an additional 2,022,326 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Linde by 4,412.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,687,706 shares of the basic materials company’s stock valued at $1,342,890,000 after purchasing an additional 6,539,513 shares during the period. Northern Trust Corp raised its holdings in shares of Linde by 1.1% in the 2nd quarter. Northern Trust Corp now owns 6,407,044 shares of the basic materials company’s stock valued at $1,286,535,000 after purchasing an additional 71,203 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Linde by 2.8% in the 2nd quarter. Wells Fargo & Company MN now owns 4,087,573 shares of the basic materials company’s stock valued at $820,785,000 after purchasing an additional 110,405 shares during the period. 73.84% of the stock is currently owned by institutional investors.

In other Linde news, VP Bernd Hugo Eulitz sold 335 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $186.43, for a total value of $62,454.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by corporate insiders.

A number of equities research analysts have recently issued reports on the stock. UBS Group reaffirmed a “buy” rating on shares of Linde in a report on Friday, July 12th. KeyCorp upped their target price on shares of Linde from $205.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on shares of Linde from $206.00 to $208.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. ValuEngine cut shares of Linde from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, Deutsche Bank upped their target price on shares of Linde from $205.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. Linde currently has an average rating of “Buy” and an average target price of $203.59.

Linde stock opened at $191.47 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.02 and a quick ratio of 0.85. Linde PLC has a twelve month low of $145.95 and a twelve month high of $206.82. The company’s 50-day moving average price is $191.05 and its two-hundred day moving average price is $190.90.

Linde (NYSE:LIN) last released its quarterly earnings results on Monday, August 5th. The basic materials company reported $1.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.08. The firm had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.16 billion. Linde had a net margin of 19.45% and a return on equity of 12.10%. On average, analysts forecast that Linde PLC will post 7.13 EPS for the current fiscal year.

Linde Company Profile

Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

Further Reading: What is the return on assets (ROA) ratio?

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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