Cornerstone Advisors LLC Has $5.18 Million Stock Position in Linde plc (NASDAQ:LIN)

Cornerstone Advisors LLC lessened its holdings in Linde plc (NASDAQ:LIN) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,800 shares of the basic materials company’s stock after selling 100 shares during the quarter. Cornerstone Advisors LLC’s holdings in Linde were worth $5,178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of LIN. Citizens Financial Group Inc. RI grew its position in Linde by 13.8% in the second quarter. Citizens Financial Group Inc. RI now owns 36,112 shares of the basic materials company’s stock valued at $15,846,000 after acquiring an additional 4,366 shares during the last quarter. One Capital Management LLC boosted its stake in shares of Linde by 71.9% in the 2nd quarter. One Capital Management LLC now owns 1,095 shares of the basic materials company’s stock valued at $480,000 after purchasing an additional 458 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in shares of Linde during the 2nd quarter valued at approximately $58,000. Rathbones Group PLC increased its position in Linde by 2.4% during the 2nd quarter. Rathbones Group PLC now owns 534,379 shares of the basic materials company’s stock worth $234,491,000 after purchasing an additional 12,295 shares in the last quarter. Finally, Taurus Asset Management LLC increased its position in Linde by 0.3% during the 2nd quarter. Taurus Asset Management LLC now owns 54,745 shares of the basic materials company’s stock worth $24,023,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 82.80% of the company’s stock.

Linde Stock Up 0.3 %

Shares of NASDAQ LIN opened at $468.81 on Monday. The company’s 50 day moving average price is $454.53 and its 200-day moving average price is $448.66. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95. Linde plc has a 52-week low of $361.02 and a 52-week high of $479.79. The company has a market capitalization of $223.86 billion, a P/E ratio of 36.37, a price-to-earnings-growth ratio of 2.91 and a beta of 0.94.

Linde (NASDAQ:LIN) last released its earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.06. Linde had a net margin of 19.49% and a return on equity of 17.92%. The business had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter in the previous year, the business earned $3.57 earnings per share. Linde’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities analysts forecast that Linde plc will post 15.54 earnings per share for the current year.

Linde Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a dividend of $1.39 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.56 annualized dividend and a yield of 1.19%. Linde’s dividend payout ratio is currently 43.13%.

Analyst Ratings Changes

A number of analysts have weighed in on LIN shares. Bank of America boosted their target price on shares of Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup boosted their price objective on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $477.00 target price on shares of Linde in a research report on Friday, August 30th. Barclays boosted their price target on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their price objective on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $484.18.

Insiders Place Their Bets

In other Linde news, VP John Panikar sold 10,025 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Linde Profile

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.