Virginia Retirement Systems ET AL Cuts Stock Position in Linde PLC (NYSE:LIN)

Virginia Retirement Systems ET AL cut its holdings in Linde PLC (NYSE:LIN) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,700 shares of the basic materials company’s stock after selling 3,200 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Linde were worth $11,185,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. MAI Capital Management increased its position in shares of Linde by 4.4% in the first quarter. MAI Capital Management now owns 1,388 shares of the basic materials company’s stock valued at $244,000 after buying an additional 58 shares in the last quarter. Lee Financial Co increased its position in shares of Linde by 0.9% in the first quarter. Lee Financial Co now owns 6,872 shares of the basic materials company’s stock valued at $1,209,000 after buying an additional 60 shares in the last quarter. Insight Wealth Strategies LLC increased its position in shares of Linde by 3.5% in the first quarter. Insight Wealth Strategies LLC now owns 1,860 shares of the basic materials company’s stock valued at $327,000 after buying an additional 63 shares in the last quarter. Telemus Capital LLC boosted its stake in shares of Linde by 1.4% in the first quarter. Telemus Capital LLC now owns 5,370 shares of the basic materials company’s stock worth $945,000 after acquiring an additional 75 shares during the last quarter. Finally, Avitas Wealth Management LLC boosted its stake in shares of Linde by 0.5% in the second quarter. Avitas Wealth Management LLC now owns 15,559 shares of the basic materials company’s stock worth $3,124,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 73.08% of the company’s stock.

In related news, VP Christian Bruch acquired 1,474 shares of the stock in a transaction on Wednesday, May 15th. The shares were bought at an average price of $179.21 per share, with a total value of $264,155.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eduardo F. Menezes sold 19,056 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $188.23, for a total value of $3,586,910.88. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

A number of brokerages have recently issued reports on LIN. Sanford C. Bernstein reaffirmed a “sell” rating on shares of Linde in a research note on Thursday, July 18th. BMO Capital Markets raised Linde from a “market perform” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Monday, May 13th. ValuEngine lowered Linde from a “hold” rating to a “sell” rating in a research note on Tuesday. UBS Group reaffirmed a “buy” rating on shares of Linde in a research note on Friday, July 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Linde in a research note on Friday, June 21st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Linde presently has a consensus rating of “Hold” and a consensus target price of $200.91.

NYSE LIN traded up $0.35 on Wednesday, reaching $188.76. 50,169 shares of the company were exchanged, compared to its average volume of 1,574,503. The firm has a fifty day simple moving average of $200.43. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 1.35. Linde PLC has a fifty-two week low of $145.95 and a fifty-two week high of $206.82.

Linde (NYSE:LIN) last released its quarterly earnings data on Friday, May 10th. The basic materials company reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.15. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $7.03 billion. Linde had a return on equity of 14.95% and a net margin of 23.52%. As a group, sell-side analysts forecast that Linde PLC will post 6.97 EPS for the current year.

Linde Company Profile

Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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