Douglas Lane & Associates LLC Lowers Holdings in Linde plc (NASDAQ:LIN)

Douglas Lane & Associates LLC decreased its holdings in Linde plc (NASDAQ:LIN) by 40.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 852 shares of the basic materials company’s stock after selling 575 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Linde were worth $374,000 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. Vanguard Group Inc. grew its holdings in shares of Linde by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 44,676,156 shares of the basic materials company’s stock worth $20,744,033,000 after purchasing an additional 405,952 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Linde by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,796,924 shares of the basic materials company’s stock worth $4,434,406,000 after purchasing an additional 141,322 shares during the period. Norges Bank purchased a new stake in shares of Linde during the 4th quarter worth about $3,066,825,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Linde by 3.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,959,993 shares of the basic materials company’s stock worth $1,624,462,000 after purchasing an additional 138,585 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Linde by 2.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,893,414 shares of the basic materials company’s stock worth $1,343,470,000 after purchasing an additional 66,880 shares during the period. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LIN. UBS Group reduced their price target on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Barclays boosted their price target on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company boosted their price target on Linde from $480.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. boosted their price target on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, HSBC reduced their price target on Linde from $458.00 to $452.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Linde presently has an average rating of “Moderate Buy” and an average price target of $484.18.

Linde Stock Up 0.5 %

Shares of LIN traded up $2.16 during trading on Tuesday, reaching $445.66. The company’s stock had a trading volume of 1,527,579 shares, compared to its average volume of 1,986,922. The company has a fifty day moving average of $439.50 and a two-hundred day moving average of $440.21. Linde plc has a twelve month low of $361.02 and a twelve month high of $477.71. The company has a market cap of $214.22 billion, a price-to-earnings ratio of 34.57, a P/E/G ratio of 2.86 and a beta of 0.94. 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 (NASDAQ:LIN) last posted its quarterly 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. The business had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.30 billion. Linde had a return on equity of 17.49% and a net margin of 19.26%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $3.57 EPS. On average, sell-side analysts predict that Linde plc will post 15.49 EPS for the current fiscal year.

Linde Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Wednesday, September 4th. Linde’s dividend payout ratio (DPR) is 43.13%.

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.