Industrial Alliance Investment Management Inc. Makes New $806,000 Investment in Linde plc (NASDAQ:LIN)

Industrial Alliance Investment Management Inc. bought a new position in shares of Linde plc (NASDAQ:LIN) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,736 shares of the basic materials company’s stock, valued at approximately $806,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Group LLC bought a new stake in shares of Linde during the first quarter valued at approximately $25,000. First Pacific Financial bought a new stake in shares of Linde during the first quarter valued at approximately $30,000. Scarborough Advisors LLC bought a new stake in shares of Linde during the fourth quarter valued at approximately $30,000. Johnson Financial Group Inc. raised its position in shares of Linde by 44.4% during the fourth quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock valued at $32,000 after buying an additional 24 shares during the last quarter. Finally, Addison Advisors LLC raised its position in shares of Linde by 310.0% during the fourth quarter. Addison Advisors LLC now owns 82 shares of the basic materials company’s stock valued at $34,000 after buying an additional 62 shares during the last quarter. Institutional investors own 82.80% of the company’s stock.

Wall Street Analysts Forecast Growth

LIN has been the topic of several recent analyst reports. Citigroup lifted their price objective on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. UBS Group cut their target price on shares of Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. HSBC cut 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. Mizuho raised their target price on shares of Linde from $510.00 to $512.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets cut their target price on shares of Linde from $510.00 to $475.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $470.10.

Linde Trading Up 0.2 %

NASDAQ LIN traded up $0.89 on Tuesday, hitting $450.85. 1,755,627 shares of the stock were exchanged, compared to its average volume of 1,981,529. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 0.91. The stock has a fifty day moving average price of $437.86 and a two-hundred day moving average price of $438.69. The firm has a market capitalization of $216.71 billion, a P/E ratio of 34.98, a P/E/G ratio of 2.85 and a beta of 0.94. Linde plc has a 52-week low of $361.02 and a 52-week high of $477.71.

Linde (NASDAQ:LIN) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $3.75 EPS for the quarter, topping the consensus estimate of $3.68 by $0.07. The company had revenue of $8.10 billion during the quarter, compared to analyst estimates of $8.38 billion. Linde had a net margin of 19.26% and a return on equity of 17.49%. Linde’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.42 earnings per share. Research analysts forecast that Linde plc will post 15.49 EPS for the current fiscal year.

About Linde

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.