Canandaigua National Bank & Trust Co. Cuts Holdings in Linde plc (NASDAQ:LIN)

Canandaigua National Bank & Trust Co. reduced its position in Linde plc (NASDAQ:LINFree Report) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,150 shares of the basic materials company’s stock after selling 36 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Linde were worth $1,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LIN. Confluence Investment Management LLC purchased a new position in Linde in the first quarter valued at $171,607,000. First Financial Bank Trust Division acquired a new position in shares of Linde in the 1st quarter worth approximately $222,000. General Partner Inc. lifted its holdings in Linde by 4.8% during the 1st quarter. General Partner Inc. now owns 998 shares of the basic materials company’s stock worth $463,000 after buying an additional 46 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in Linde during the 4th quarter worth approximately $2,218,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Linde in the 4th quarter valued at approximately $41,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LIN has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their target price on shares of Linde from $510.00 to $475.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. Citigroup downgraded shares of Linde from a “buy” rating to a “neutral” rating and lifted their target price for the company from $475.00 to $500.00 in a report on Wednesday, April 10th. Wolfe Research started coverage on shares of Linde in a report on Friday, March 1st. They set a “peer perform” rating on the stock. UBS Group downgraded shares of Linde from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $482.00 to $510.00 in a report on Wednesday, March 27th. Finally, Mizuho upped their price target on shares of Linde from $510.00 to $512.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $468.83.

Get Our Latest Analysis on Linde

Linde Stock Down 0.3 %

NASDAQ LIN traded down $1.36 during trading hours on Tuesday, reaching $439.27. 545,511 shares of the company traded hands, compared to its average volume of 2,064,206. Linde plc has a 12 month low of $358.37 and a 12 month high of $477.71. The company has a current ratio of 0.91, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $211.15 billion, a PE ratio of 34.18, a PEG ratio of 2.74 and a beta of 0.95. The company has a 50 day moving average of $437.15 and a two-hundred day moving average of $431.97.

Linde (NASDAQ:LINGet Free Report) last released its earnings results on Thursday, May 2nd. The basic materials company reported $3.75 EPS for the quarter, beating the consensus estimate of $3.68 by $0.07. Linde had a net margin of 19.26% and a return on equity of 17.49%. The firm had revenue of $8.10 billion for the quarter, compared to analysts’ expectations of $8.38 billion. During the same quarter last year, the company earned $3.42 EPS. Linde’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities analysts expect that Linde plc will post 15.51 earnings per share for the current year.

Linde Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Tuesday, June 4th. Linde’s dividend payout ratio (DPR) is 43.13%.

Linde Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Linde (NASDAQ:LIN)

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