Connable Office Inc. Sells 173 Shares of Linde PLC $LIN

Connable Office Inc. trimmed its position in Linde PLC (NASDAQ:LIN) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,510 shares of the basic materials company’s stock after selling 173 shares during the period. Linde comprises approximately 0.4% of Connable Office Inc.’s holdings, making the stock its 29th largest holding. Connable Office Inc.’s holdings in Linde were worth $4,462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC raised its holdings in Linde by 1.3% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 249,742 shares of the basic materials company’s stock worth $117,174,000 after purchasing an additional 3,230 shares during the last quarter. Markel Group Inc. raised its stake in shares of Linde by 3.1% during the second quarter. Markel Group Inc. now owns 186,600 shares of the basic materials company’s stock worth $87,549,000 after buying an additional 5,600 shares during the last quarter. Truist Financial Corp lifted its holdings in Linde by 75.0% in the first quarter. Truist Financial Corp now owns 193,563 shares of the basic materials company’s stock valued at $90,131,000 after buying an additional 82,952 shares during the period. Freedom Day Solutions LLC boosted its stake in Linde by 9.6% in the first quarter. Freedom Day Solutions LLC now owns 6,102 shares of the basic materials company’s stock valued at $2,841,000 after acquiring an additional 535 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in Linde by 25.9% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 23,558 shares of the basic materials company’s stock worth $10,970,000 after acquiring an additional 4,839 shares during the period. 82.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup increased their price target on Linde from $530.00 to $535.00 and gave the company a “buy” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. boosted their target price on Linde from $470.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. UBS Group lowered their price target on Linde from $510.00 to $507.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Linde in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $521.60.

Linde Trading Down 2.6%

NASDAQ LIN opened at $418.68 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.93 and a quick ratio of 0.78. The stock’s 50-day moving average is $465.40 and its 200-day moving average is $464.60. Linde PLC has a one year low of $408.65 and a one year high of $486.38. The firm has a market cap of $196.32 billion, a P/E ratio of 29.78, a P/E/G ratio of 2.85 and a beta of 0.93.

Linde (NASDAQ:LIN) last announced its earnings results on Friday, October 31st. The basic materials company reported $4.21 EPS for the quarter, topping the consensus estimate of $4.18 by $0.03. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.62 billion. Linde had a net margin of 20.20% and a return on equity of 19.09%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $3.94 EPS. Linde has set its FY 2025 guidance at 16.350-16.450 EPS. Q4 2025 guidance at 4.100-4.200 EPS. Sell-side analysts anticipate that Linde PLC will post 16.54 earnings per share for the current fiscal year.

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, December 3rd. Linde’s dividend payout ratio is 40.19%.

Insider Activity

In other news, Director Stephen F. Angel sold 50,309 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $473.38, for a total value of $23,815,274.42. Following the sale, the director directly owned 480,543 shares in the company, valued at $227,479,445.34. The trade was a 9.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

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.