Linde PLC $LIN Stock Holdings Reduced by MGO One Seven LLC

MGO One Seven LLC trimmed its holdings in Linde PLC (NASDAQ:LIN) by 35.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,593 shares of the basic materials company’s stock after selling 4,125 shares during the quarter. MGO One Seven LLC’s holdings in Linde were worth $3,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Flossbach Von Storch SE purchased a new stake in Linde in the second quarter valued at $438,525,000. State Street Corp grew its holdings in shares of Linde by 3.7% during the 2nd quarter. State Street Corp now owns 20,344,181 shares of the basic materials company’s stock worth $10,558,016,000 after purchasing an additional 719,052 shares during the period. Hsbc Holdings PLC increased its position in shares of Linde by 162.9% during the 1st quarter. Hsbc Holdings PLC now owns 1,097,110 shares of the basic materials company’s stock worth $543,951,000 after purchasing an additional 679,738 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Linde by 394.8% during the 1st quarter. Renaissance Technologies LLC now owns 629,820 shares of the basic materials company’s stock worth $312,240,000 after purchasing an additional 502,520 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Linde by 2,320.1% during the 1st quarter. Bessemer Group Inc. now owns 464,011 shares of the basic materials company’s stock worth $230,038,000 after purchasing an additional 444,838 shares during the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Linde Stock Up 1.1%

LIN stock opened at $519.72 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.88 and a quick ratio of 0.75. Linde PLC has a 1-year low of $387.78 and a 1-year high of $548.20. The firm has a fifty day moving average price of $484.17 and a two-hundred day moving average price of $492.74. The firm has a market cap of $239.58 billion, a price-to-earnings ratio of 34.53, a PEG ratio of 2.96 and a beta of 0.71.

Linde (NASDAQ:LIN) last issued its earnings results on Thursday, October 29th. The basic materials company reported $4.59 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. The firm had revenue of $9.40 billion during the quarter, compared to analysts’ expectations of $9.16 billion. Linde had a net margin of 20.43% and a return on equity of 20.09%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $4.21 earnings per share. Research analysts predict that Linde PLC will post 17.88 EPS for the current year.

Linde Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a dividend of $1.60 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $6.40 annualized dividend and a dividend yield of 1.2%. Linde’s dividend payout ratio (DPR) is currently 42.52%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America upped their target price on shares of Linde from $532.00 to $550.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Linde in a research note on Monday, October 5th. Citigroup boosted their price target on shares of Linde from $560.00 to $580.00 and gave the company a “buy” rating in a research note on Friday. Jefferies Financial Group upped their price objective on shares of Linde from $535.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Argus reduced their target price on shares of Linde from $563.00 to $538.00 and set a “buy” rating on the stock in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $553.05.

Linde Company Profile

Linde plc (NASDAQ:LIN) is a global industrial gases and engineering company. It produces and distributes atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide and specialty gases. The company serves customers through packaged gases, bulk deliveries, on-site production and pipeline systems.

Linde’s products and services support a broad range of industries, including healthcare, food and beverage, manufacturing, chemicals, energy, refining, electronics and metals.