Capital Asset Advisory Services LLC Increases Stock Position in Linde plc (NASDAQ:LIN)

Capital Asset Advisory Services LLC increased its position in Linde plc (NASDAQ:LIN) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,223 shares of the basic materials company’s stock after acquiring an additional 133 shares during the period. Capital Asset Advisory Services LLC’s holdings in Linde were worth $3,356,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Artemis Investment Management LLP raised its stake in Linde by 19.6% during the 1st quarter. Artemis Investment Management LLP now owns 208,118 shares of the basic materials company’s stock valued at $97,449,000 after buying an additional 34,085 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Linde by 5.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,994 shares of the basic materials company’s stock valued at $1,855,000 after buying an additional 201 shares during the last quarter. Transform Wealth LLC raised its stake in Linde by 0.6% during the 1st quarter. Transform Wealth LLC now owns 17,638 shares of the basic materials company’s stock valued at $8,190,000 after buying an additional 104 shares during the last quarter. Dohj LLC raised its stake in Linde by 8.4% during the 1st quarter. Dohj LLC now owns 1,322 shares of the basic materials company’s stock valued at $614,000 after buying an additional 103 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its stake in Linde by 2.8% during the 1st quarter. 180 Wealth Advisors LLC now owns 1,054 shares of the basic materials company’s stock valued at $489,000 after buying an additional 29 shares during the last quarter. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Linde Trading Down 0.3 %

Linde stock traded down $1.41 during midday trading on Friday, reaching $438.81. The stock had a trading volume of 2,470,153 shares, compared to its average volume of 2,066,624. The company has a quick ratio of 0.76, a current ratio of 0.91 and a debt-to-equity ratio of 0.38. Linde plc has a 52-week low of $358.37 and a 52-week high of $477.71. The firm has a market cap of $210.93 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.95. The company has a fifty day moving average of $435.99 and a 200 day moving average of $433.60.

Linde (NASDAQ:LIN) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $3.75 earnings per share for the quarter, topping analysts’ consensus estimates of $3.68 by $0.07. Linde had a net margin of 19.26% and a return on equity of 17.49%. The company had revenue of $8.10 billion for the quarter, compared to analyst estimates of $8.38 billion. During the same period in the prior year, the company posted $3.42 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts anticipate that Linde plc will post 15.51 earnings per share for the current fiscal year.

Linde Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a $1.39 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.56 dividend on an annualized basis and a yield of 1.27%. Linde’s dividend payout ratio is currently 43.13%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. UBS Group downgraded shares of Linde from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $482.00 to $510.00 in a research report on Wednesday, March 27th. Citigroup downgraded shares of Linde from a “buy” rating to a “neutral” rating and upped their target price for the stock from $475.00 to $500.00 in a report on Wednesday, April 10th. Wolfe Research assumed coverage on shares of Linde in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Wells Fargo & Company upped their target price on shares of Linde from $480.00 to $540.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, HSBC dropped their target price on shares of Linde from $458.00 to $452.00 and set a “buy” rating for the company in a report on Monday, May 6th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $468.83.

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.