Cynosure Group LLC Decreases Holdings in Linde plc (NASDAQ:LIN)

Cynosure Group LLC reduced its position in Linde plc (NASDAQ:LIN) by 29.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,189 shares of the basic materials company’s stock after selling 505 shares during the period. Cynosure Group LLC’s holdings in Linde were worth $567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Linde by 4.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,975 shares of the basic materials company’s stock valued at $26,215,000 after purchasing an additional 2,312 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Linde by 3.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 51,540 shares of the basic materials company’s stock worth $22,616,000 after acquiring an additional 1,564 shares during the last quarter. Waverton Investment Management Ltd lifted its position in shares of Linde by 0.9% in the third quarter. Waverton Investment Management Ltd now owns 196,036 shares of the basic materials company’s stock valued at $93,457,000 after acquiring an additional 1,811 shares in the last quarter. M&G Plc boosted its stake in shares of Linde by 1.2% during the second quarter. M&G Plc now owns 185,903 shares of the basic materials company’s stock valued at $81,611,000 after acquiring an additional 2,252 shares during the last quarter. Finally, M&G PLC increased its position in Linde by 2.5% during the 3rd quarter. M&G PLC now owns 190,615 shares of the basic materials company’s stock worth $90,923,000 after purchasing an additional 4,712 shares in the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LIN shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Linde from $510.00 to $515.00 and gave the company a “buy” rating in a report on Friday, November 1st. Mizuho raised their target price on shares of Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Bank of America boosted their price target on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. Erste Group Bank restated a “hold” rating on shares of Linde in a report on Tuesday, November 19th. Finally, BMO Capital Markets upped their target price on Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $490.75.

Insider Buying and Selling at Linde

In other Linde news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the completion of the transaction, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. This trade represents a 36.31 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

Linde Trading Up 0.1 %

NASDAQ:LIN opened at $457.12 on Thursday. The business’s 50-day moving average is $467.66 and its two-hundred day moving average is $454.02. The firm has a market capitalization of $217.66 billion, a PE ratio of 34.71, a price-to-earnings-growth ratio of 2.92 and a beta of 0.94. Linde plc has a 12 month low of $396.07 and a 12 month 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.

Linde (NASDAQ:LIN) last announced its earnings results on Thursday, October 31st. The basic materials company reported $3.94 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 company’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the business posted $3.63 EPS. Research analysts predict that Linde plc will post 15.48 earnings per share for the current fiscal year.

Linde Dividend Announcement

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

About Linde

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.