Clarus Wealth Advisors lifted its holdings in Linde PLC (NYSE:LIN) by 77.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,130 shares of the basic materials company’s stock after purchasing an additional 930 shares during the period. Clarus Wealth Advisors’ holdings in Linde were worth $413,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC acquired a new position in shares of Linde in the second quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Linde in the second quarter valued at approximately $46,000. Ruggie Capital Group acquired a new position in shares of Linde in the second quarter valued at approximately $48,000. Alera Investment Advisors LLC grew its holdings in shares of Linde by 50.9% in the first quarter. Alera Investment Advisors LLC now owns 243 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 82 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC acquired a new position in shares of Linde in the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 73.81% of the company’s stock.
A number of research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Linde from $180.00 to $184.00 and gave the company an “underperform” rating in a report on Tuesday, August 6th. DZ Bank reiterated a “buy” rating on shares of Linde in a research note on Monday, July 22nd. UBS Group reiterated a “buy” rating on shares of Linde in a research note on Friday, July 12th. Zacks Investment Research upgraded shares of Linde from a “hold” rating to a “buy” rating and set a $211.00 price target for the company in a research note on Thursday, August 8th. Finally, KeyCorp lifted their price target on shares of Linde from $205.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $201.83.
Linde stock traded up $3.78 during trading on Friday, reaching $195.01. The stock had a trading volume of 62,378 shares, compared to its average volume of 1,463,539. Linde PLC has a 52-week low of $145.95 and a 52-week high of $206.82. The business has a 50 day moving average price of $188.93 and a 200 day moving average price of $189.62. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.23.
Linde (NYSE:LIN) last issued its quarterly earnings results on Monday, August 5th. The basic materials company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.08. The company had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.16 billion. Linde had a net margin of 19.45% and a return on equity of 12.10%. As a group, research analysts forecast that Linde PLC will post 7.13 EPS for the current fiscal year.
The business also recently disclosed a dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.875 per share. The ex-dividend date of this dividend was Friday, August 30th.
In other news, VP Bernd Hugo Eulitz sold 335 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $186.43, for a total transaction of $62,454.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by insiders.
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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