D. E. Shaw & Co. Inc. Sells 289,246 Shares of Linde plc (NYSE:LIN)

D. E. Shaw & Co. Inc. reduced its position in shares of Linde plc (NYSE:LIN) by 65.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 154,902 shares of the basic materials company’s stock after selling 289,246 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Linde were worth $43,394,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LIN. Tortoise Investment Management LLC increased its stake in Linde by 131.6% during the 1st quarter. Tortoise Investment Management LLC now owns 88 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in shares of Linde during the 1st quarter valued at about $27,000. Brand Asset Management Group Inc. purchased a new stake in shares of Linde during the 1st quarter valued at about $28,000. Heritage Wealth Advisors purchased a new stake in shares of Linde during the 1st quarter valued at about $28,000. Finally, Sageworth Trust Co purchased a new stake in shares of Linde during the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 73.18% of the company’s stock.

A number of brokerages have recently issued reports on LIN. Baader Bank reaffirmed a “buy” rating on shares of Linde in a report on Sunday, May 16th. Morgan Stanley raised their price target on shares of Linde from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, May 10th. HSBC raised their price target on shares of Linde from $272.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, June 3rd. Wolfe Research assumed coverage on shares of Linde in a report on Wednesday, June 9th. They issued a “market perform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Linde from $330.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, May 7th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $323.00.

LIN opened at $294.20 on Thursday. The stock has a market capitalization of $152.99 billion, a PE ratio of 53.49, a price-to-earnings-growth ratio of 2.61 and a beta of 0.78. The company’s fifty day moving average is $293.09. Linde plc has a fifty-two week low of $214.14 and a fifty-two week high of $305.71. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.21.

Linde (NYSE:LIN) last posted its earnings results on Thursday, May 6th. The basic materials company reported $2.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.23. The company had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Linde had a net margin of 10.48% and a return on equity of 9.66%. On average, analysts anticipate that Linde plc will post 10.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 17th. Shareholders of record on Thursday, June 3rd were paid a $1.06 dividend. The ex-dividend date of this dividend was Wednesday, June 2nd. This represents a $4.24 dividend on an annualized basis and a dividend yield of 1.44%. Linde’s payout ratio is currently 51.52%.

Linde Company Profile

Linde Plc engages in the production and distribution of industrial gases. It operates through the following segments: Americas; Europe, Middle East, and Africa (EMEA); Asia and South Pacific (APAC); Engineering; and Other. The America segment operates production facilities in the U.S., Canada, Mexico, and Brazil.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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