DnB Asset Management AS Boosts Position in Linde plc (NASDAQ:LIN)

DnB Asset Management AS raised its stake in Linde plc (NASDAQ:LIN) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,170 shares of the basic materials company’s stock after buying an additional 3,240 shares during the period. DnB Asset Management AS’s holdings in Linde were worth $39,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in LIN. Synergy Asset Management LLC purchased a new stake in shares of Linde in the fourth quarter valued at approximately $25,000. Rakuten Securities Inc. raised its position in Linde by 1,160.0% during the 4th quarter. Rakuten Securities Inc. now owns 63 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 58 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Linde in the 4th quarter worth $28,000. Global Wealth Strategies & Associates grew its position in shares of Linde by 144.8% during the 4th quarter. Global Wealth Strategies & Associates now owns 71 shares of the basic materials company’s stock worth $30,000 after buying an additional 42 shares in the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Linde during the fourth quarter valued at $34,000. 82.80% of the stock is currently owned by institutional investors.

Linde Stock Performance

Shares of NASDAQ LIN opened at $464.73 on Friday. The company has a 50 day simple moving average of $455.63 and a two-hundred day simple moving average of $454.31. The stock has a market cap of $219.78 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 3.08 and a beta of 0.94. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 0.39. Linde plc has a 12 month low of $410.69 and a 12 month high of $487.49.

Linde (NASDAQ:LIN) last posted its earnings results on Thursday, February 6th. The basic materials company reported $3.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.93 by $0.04. Linde had a net margin of 19.89% and a return on equity of 18.71%. As a group, analysts predict that Linde plc will post 16.54 earnings per share for the current year.

Linde Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $1.50 per share. This is a boost from Linde’s previous quarterly dividend of $1.39. This represents a $6.00 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, March 13th. Linde’s dividend payout ratio (DPR) is currently 44.09%.

Wall Street Analyst Weigh In

LIN has been the subject of a number of research reports. TD Cowen raised shares of Linde from a “hold” rating to a “buy” rating and upped their price objective for the stock from $480.00 to $515.00 in a research note on Monday, January 13th. Citigroup lowered their price target on shares of Linde from $490.00 to $480.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $501.82.

Insider Activity at Linde

In related news, VP David P. Strauss sold 2,477 shares of Linde stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $469.74, for a total value of $1,163,545.98. Following the completion of the transaction, the vice president now owns 1,300 shares in the company, valued at $610,662. The trade was a 65.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Wood sold 2,900 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $456.26, for a total value of $1,323,154.00. Following the transaction, the director now owns 14,013 shares in the company, valued at $6,393,571.38. This represents a 17.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,159 shares of company stock worth $5,603,843. 0.60% of the stock is owned by corporate insiders.

Linde Company 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.