Azimuth Capital Management LLC Purchases Shares of 24,171 Linde plc (NYSE:LIN)


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Azimuth Capital Management LLC purchased a new stake in Linde plc (NYSE:LIN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 24,171 shares of the basic materials company’s stock, valued at approximately $6,369,000.

A number of other institutional investors and hedge funds have also modified their holdings of LIN. First Trust Advisors LP lifted its stake in Linde by 450.4% in the first quarter. First Trust Advisors LP now owns 14,668 shares of the basic materials company’s stock valued at $2,581,000 after buying an additional 12,003 shares during the period. Community Trust & Investment Co. lifted its stake in Linde by 1.0% in the third quarter. Community Trust & Investment Co. now owns 49,137 shares of the basic materials company’s stock valued at $11,701,000 after buying an additional 508 shares during the period. NEXT Financial Group Inc acquired a new position in Linde in the third quarter valued at approximately $261,000. Atlas Capital Advisors LLC lifted its stake in Linde by 672.7% in the third quarter. Atlas Capital Advisors LLC now owns 989 shares of the basic materials company’s stock valued at $236,000 after buying an additional 861 shares during the period. Finally, Pinnacle Associates Ltd. lifted its stake in Linde by 62.3% in the third quarter. Pinnacle Associates Ltd. now owns 3,125 shares of the basic materials company’s stock valued at $744,000 after buying an additional 1,200 shares during the period. 72.64% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:LIN traded up $3.36 during trading on Tuesday, reaching $254.43. The company’s stock had a trading volume of 74,262 shares, compared to its average volume of 1,874,368. The firm has a market cap of $133.54 billion, a price-to-earnings ratio of 59.64, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.71 and a current ratio of 0.83. The firm has a 50 day moving average of $256.16 and a 200-day moving average of $248.69. Linde plc has a 12 month low of $146.71 and a 12 month high of $274.58.

Linde (NYSE:LIN) last announced its quarterly earnings data on Thursday, February 4th. The basic materials company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.16. The firm had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $6.97 billion. Linde had a return on equity of 8.56% and a net margin of 8.29%. Equities research analysts forecast that Linde plc will post 8.08 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 22nd. Stockholders of record on Friday, March 5th will be paid a dividend of $1.06 per share. This is an increase from Linde’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Thursday, March 4th. This represents a $4.24 annualized dividend and a dividend yield of 1.67%. Linde’s dividend payout ratio is presently 52.45%.

Several equities analysts have issued reports on the company. HSBC raised Linde from a “hold” rating to a “buy” rating and set a $272.00 price target on the stock in a research note on Wednesday, November 25th. BMO Capital Markets upped their target price on Linde from $280.00 to $293.00 and gave the stock an “outperform” rating in a research report on Friday, November 6th. Wells Fargo & Company upped their target price on Linde from $289.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, February 8th. Morgan Stanley upped their target price on Linde from $281.00 to $285.00 and gave the stock an “overweight” rating in a research report on Monday, February 8th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Linde in a research report on Monday, February 8th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $260.24.

In other news, insider Kelcey E. Hoyt sold 2,559 shares of the stock in a transaction on Friday, February 12th. The stock was sold at an average price of $251.66, for a total transaction of $643,997.94. Following the completion of the transaction, the insider now owns 6,779 shares in the company, valued at approximately $1,706,003.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

Linde Company Profile

Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. It also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, and hydrogen and synthesis gas plants.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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