Prime Capital Investment Advisors LLC Trims Position in Linde plc (NASDAQ:LIN)

Prime Capital Investment Advisors LLC lowered its stake in shares of Linde plc (NASDAQ:LIN) by 43.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,800 shares of the basic materials company’s stock after selling 2,955 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Linde were worth $1,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LIN. Entropy Technologies LP purchased a new position in shares of Linde during the first quarter worth about $1,226,000. Kingsview Wealth Management LLC grew its holdings in shares of Linde by 3.6% during the first quarter. Kingsview Wealth Management LLC now owns 5,051 shares of the basic materials company’s stock worth $2,345,000 after buying an additional 174 shares during the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Linde by 20.7% during the first quarter. HBK Sorce Advisory LLC now owns 1,395 shares of the basic materials company’s stock worth $648,000 after buying an additional 239 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of Linde by 6.0% during the first quarter. Orion Portfolio Solutions LLC now owns 28,887 shares of the basic materials company’s stock worth $13,413,000 after buying an additional 1,641 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in shares of Linde by 7.0% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,495 shares of the basic materials company’s stock worth $2,087,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Linde Price Performance

Shares of NASDAQ:LIN opened at $456.24 on Thursday. The business’s 50 day simple moving average is $470.79 and its 200-day simple moving average is $452.58. The firm has a market capitalization of $217.24 billion, a price-to-earnings ratio of 34.64, a price-to-earnings-growth ratio of 2.92 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.81. Linde plc has a 12 month low of $396.07 and a 12 month high of $487.49.

Linde (NASDAQ:LIN) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, topping the consensus estimate of $3.89 by $0.05. The business had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.39 billion. Linde had a return on equity of 18.16% and a net margin of 19.33%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.63 EPS. As a group, equities analysts forecast that Linde plc will post 15.48 earnings per share for the current fiscal year.

Linde Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a dividend of $1.39 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $5.56 annualized dividend and a dividend yield of 1.22%. Linde’s dividend payout ratio is currently 42.22%.

Insider Buying and Selling

In related news, VP John Panikar sold 10,025 shares of Linde 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 completion of the transaction, the vice president now directly owns 17,584 shares in the company, valued at $8,136,996. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LIN. Deutsche Bank Aktiengesellschaft raised their price target on Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Bank of America lifted their price objective on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. Mizuho lifted their price objective on Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, BMO Capital Markets lifted their price objective on Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $490.75.

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.