Newfound Research LLC Sells 141 Shares of Linde plc (NYSE:LIN)

Newfound Research LLC lessened its holdings in Linde plc (NYSE:LINGet Rating) by 30.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 328 shares of the basic materials company’s stock after selling 141 shares during the quarter. Newfound Research LLC’s holdings in Linde were worth $94,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Steward Financial Group LLC bought a new position in shares of Linde in the 1st quarter valued at about $31,000. Hoese & Co LLP bought a new position in Linde during the 1st quarter worth approximately $32,000. Herold Advisors Inc. bought a new position in Linde during the 1st quarter worth approximately $32,000. Rational Advisors LLC boosted its stake in Linde by 64.0% during the 1st quarter. Rational Advisors LLC now owns 123 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 48 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. boosted its stake in Linde by 45.1% during the 1st quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 77.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LIN. Stifel Nicolaus raised shares of Linde from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Linde from €370.00 ($377.55) to €355.00 ($362.24) and set a “buy” rating on the stock in a research note on Friday, July 29th. UBS Group reduced their price objective on shares of Linde from $355.00 to $320.00 and set a “buy” rating on the stock in a research note on Monday, September 12th. Jefferies Financial Group reduced their price objective on shares of Linde from $390.00 to $355.00 in a research note on Thursday, June 16th. Finally, Evercore ISI upgraded shares of Linde from an “in-line” rating to an “outperform” rating and set a $355.00 target price on the stock in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Linde presently has an average rating of “Moderate Buy” and an average price target of $365.60.

Linde Stock Down 2.4 %

Shares of NYSE LIN traded down $6.54 during midday trading on Friday, reaching $267.53. The company’s stock had a trading volume of 66,594 shares, compared to its average volume of 1,779,316. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 0.27. Linde plc has a fifty-two week low of $265.12 and a fifty-two week high of $352.18. The stock has a market capitalization of $133.33 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 2.33 and a beta of 0.88. The stock has a 50 day simple moving average of $291.56 and a 200-day simple moving average of $301.72.

Linde (NYSE:LINGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The basic materials company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.12. Linde had a net margin of 10.88% and a return on equity of 13.41%. The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same period last year, the company earned $2.70 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts predict that Linde plc will post 11.89 earnings per share for the current year.

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a dividend of $1.17 per share. The ex-dividend date was Thursday, September 1st. This represents a $4.68 dividend on an annualized basis and a yield of 1.75%. Linde’s payout ratio is 67.83%.

Linde Company Profile

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Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia 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.

Further Reading

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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