Acorn Wealth Advisors LLC Invests $269,000 in Linde plc (NASDAQ:LIN)

Acorn Wealth Advisors LLC purchased a new position in shares of Linde plc (NASDAQ:LIN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 565 shares of the basic materials company’s stock, valued at approximately $269,000.

Several other institutional investors have also recently added to or reduced their stakes in LIN. Dynasty Wealth Management LLC acquired a new position in Linde in the 1st quarter valued at $624,000. B. Riley Wealth Advisors Inc. increased its stake in shares of Linde by 12.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 10,437 shares of the basic materials company’s stock worth $4,846,000 after acquiring an additional 1,155 shares during the period. Tidal Investments LLC raised its holdings in Linde by 28.7% during the first quarter. Tidal Investments LLC now owns 20,071 shares of the basic materials company’s stock worth $9,319,000 after purchasing an additional 4,479 shares in the last quarter. Beacon Capital Management LLC lifted its position in Linde by 29.2% in the first quarter. Beacon Capital Management LLC now owns 429 shares of the basic materials company’s stock valued at $199,000 after purchasing an additional 97 shares during the period. Finally, First Western Trust Bank purchased a new stake in Linde in the 1st quarter valued at approximately $220,000. Institutional investors and hedge funds own 82.80% of the company’s stock.

Wall Street Analysts Forecast Growth

LIN has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. BMO Capital Markets increased their price objective on Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Mizuho increased their price target on shares of Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Erste Group Bank reissued a “hold” rating on shares of Linde in a report on Tuesday, November 19th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $490.75.

Insider Transactions at Linde

In other Linde news, VP John Panikar sold 10,025 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now owns 17,584 shares of the company’s stock, valued at $8,136,996. This represents a 36.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.60% of the company’s stock.

Linde Trading Up 0.2 %

Shares of Linde stock opened at $455.69 on Tuesday. Linde plc has a 1 year low of $396.07 and a 1 year high of $487.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.81. The business has a 50 day moving average price of $468.16 and a 200 day moving average price of $453.84. The company has a market capitalization of $216.98 billion, a P/E ratio of 34.60, a P/E/G ratio of 2.91 and a beta of 0.94.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.05. The business had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.39 billion. Linde had a return on equity of 18.16% and a net margin of 19.33%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.63 earnings per share. Sell-side analysts anticipate that Linde plc will post 15.48 EPS for the current fiscal year.

Linde Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $1.39 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $5.56 annualized dividend and a dividend yield of 1.22%. Linde’s dividend payout ratio is currently 42.22%.

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.