Highland Capital Management LLC Cuts Position in Linde plc (NYSE:LIN)
Highland Capital Management LLC lessened its position in shares of Linde plc (NYSE:LIN) by 0.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,323 shares of the basic materials company’s stock after selling 43 shares during the quarter. Highland Capital Management LLC’s holdings in Linde were worth $1,771,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LIN. California Public Employees Retirement System increased its position in shares of Linde by 3.7% during the 4th quarter. California Public Employees Retirement System now owns 1,249,582 shares of the basic materials company’s stock valued at $329,277,000 after purchasing an additional 44,533 shares during the last quarter. Zhang Financial LLC raised its holdings in shares of Linde by 14.3% in the fourth quarter. Zhang Financial LLC now owns 2,403 shares of the basic materials company’s stock worth $633,000 after buying an additional 300 shares during the period. McCollum Christoferson Group LLC raised its holdings in shares of Linde by 1.5% in the first quarter. McCollum Christoferson Group LLC now owns 28,583 shares of the basic materials company’s stock worth $8,007,000 after buying an additional 409 shares during the period. Vigilant Capital Management LLC grew its stake in Linde by 1.1% in the first quarter. Vigilant Capital Management LLC now owns 85,588 shares of the basic materials company’s stock worth $23,977,000 after purchasing an additional 925 shares in the last quarter. Finally, Azimuth Capital Management LLC bought a new position in Linde in the fourth quarter worth approximately $6,369,000. Institutional investors and hedge funds own 72.64% of the company’s stock.
LIN has been the topic of several recent research reports. DZ Bank reaffirmed a “buy” rating on shares of Linde in a research report on Friday, February 19th. UBS Group reissued a “buy” rating on shares of Linde in a research report on Monday, February 8th. The Goldman Sachs Group restated a “buy” rating on shares of Linde in a research note on Friday, February 5th. Deutsche Bank Aktiengesellschaft raised their target price on Linde from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Monday, February 8th. Finally, Zacks Investment Research lowered Linde from a “buy” rating to a “hold” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $274.81.
Shares of Linde stock opened at $288.70 on Tuesday. Linde plc has a 12-month low of $172.76 and a 12-month high of $292.49. The company has a current ratio of 0.83, a quick ratio of 0.71 and a debt-to-equity ratio of 0.25. The stock has a market cap of $150.94 billion, a PE ratio of 68.57, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. The company has a 50-day moving average of $281.76 and a two-hundred day moving average of $259.12.
Linde (NYSE:LIN) last announced its earnings results on Thursday, February 4th. The basic materials company reported $2.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.16. Linde had a net margin of 8.29% and a return on equity of 8.56%. The firm had revenue of $7.27 billion for the quarter, compared to analyst estimates of $6.97 billion. On average, sell-side analysts forecast that Linde plc will post 8.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Thursday, June 3rd will be paid a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Wednesday, June 2nd. Linde’s payout ratio is 57.77%.
Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers oxygen, nitrogen, argon, rare gases, carbon dioxide, hydrogen, helium, electronic and specialty gases, acetylene, and carbon monoxide. The company also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, hydrogen and synthesis gas, and other plants.
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