Concurrent Investment Advisors LLC Has $885,000 Stock Position in Linde plc (NASDAQ:LIN)

Concurrent Investment Advisors LLC decreased its stake in Linde plc (NASDAQ:LIN) by 28.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,906 shares of the basic materials company’s stock after selling 759 shares during the period. Concurrent Investment Advisors LLC’s holdings in Linde were worth $885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LIN. Retirement Group LLC acquired a new position in Linde in the first quarter valued at approximately $25,000. First Pacific Financial acquired a new stake in shares of Linde in the 1st quarter valued at about $30,000. Scarborough Advisors LLC bought a new stake in Linde in the 4th quarter valued at about $30,000. Valued Wealth Advisors LLC raised its stake in Linde by 49.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock worth $34,000 after buying an additional 24 shares during the period. Finally, Johnson Financial Group Inc. boosted its holdings in Linde by 44.4% in the fourth quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 24 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. HSBC decreased their price target on shares of Linde from $458.00 to $452.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Wells Fargo & Company boosted their price objective on Linde from $480.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Citigroup increased their target price on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday. BMO Capital Markets lowered their price target on shares of Linde from $510.00 to $475.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Finally, Mizuho upped their price objective on Linde from $510.00 to $512.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $464.25.

Linde Price Performance

Shares of LIN traded down $2.52 during midday trading on Monday, hitting $438.18. 1,248,917 shares of the company traded hands, compared to its average volume of 2,026,951. Linde plc has a one year low of $361.02 and a one year high of $477.71. The firm has a market cap of $210.62 billion, a P/E ratio of 34.05, a PEG ratio of 2.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.91 and a quick ratio of 0.76. The stock has a 50-day moving average of $434.57 and a 200-day moving average of $435.79.

Linde (NASDAQ:LIN) last announced its earnings results 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. The business had revenue of $8.10 billion for the quarter, compared to analyst estimates of $8.38 billion. Linde had a return on equity of 17.49% and a net margin of 19.26%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.42 EPS. As a group, sell-side analysts predict that Linde plc will post 15.5 EPS for the current fiscal year.

Linde Dividend Announcement

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

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.