Petros Family Wealth LLC Buys 40 Shares of Linde PLC (NASDAQ:LIN)

Petros Family Wealth LLC boosted its stake in shares of Linde PLC (NASDAQ:LIN) by 5.5% during the first quarter, Holdings Channel.com reports. The firm owned 762 shares of the basic materials company’s stock after purchasing an additional 40 shares during the quarter. Petros Family Wealth LLC’s holdings in Linde were worth $355,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LIN. Capital World Investors boosted its holdings in Linde by 34.4% in the fourth quarter. Capital World Investors now owns 11,547,765 shares of the basic materials company’s stock worth $4,834,631,000 after acquiring an additional 2,957,604 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Linde by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 11,003,925 shares of the basic materials company’s stock worth $4,598,551,000 after acquiring an additional 30,750 shares in the last quarter. Capital Research Global Investors boosted its holdings in Linde by 6.4% in the fourth quarter. Capital Research Global Investors now owns 9,214,290 shares of the basic materials company’s stock worth $3,857,741,000 after acquiring an additional 554,480 shares in the last quarter. Norges Bank acquired a new stake in Linde in the fourth quarter worth about $2,901,853,000. Finally, Freemont Capital Pte Ltd acquired a new stake in Linde in the fourth quarter worth about $2,128,233,000. Institutional investors own 82.80% of the company’s stock.

Linde Stock Up 0.9%

Shares of LIN stock opened at $459.75 on Tuesday. The stock has a 50 day moving average of $457.97 and a 200 day moving average of $449.18. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 0.45. The stock has a market cap of $216.41 billion, a P/E ratio of 33.39, a P/E/G ratio of 3.22 and a beta of 0.97. Linde PLC has a twelve month low of $408.65 and a twelve month high of $487.49.

Linde (NASDAQ:LIN) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $3.95 earnings per share for the quarter, beating the consensus estimate of $3.92 by $0.03. The company had revenue of $8.11 billion during the quarter, compared to analysts’ expectations of $8.24 billion. Linde had a return on equity of 18.95% and a net margin of 20.02%. Linde’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the business earned $3.75 earnings per share. As a group, sell-side analysts expect that Linde PLC will post 16.54 EPS for the current year.

Linde Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Wednesday, June 4th. Linde’s dividend payout ratio (DPR) is presently 43.57%.

Insider Activity

In other news, VP David P. Strauss sold 1,987 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $457.04, for a total value of $908,138.48. Following the completion of the sale, the vice president now directly owns 22,639 shares in the company, valued at $10,346,928.56. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sean Durbin sold 7,261 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $456.42, for a total value of $3,314,065.62. Following the completion of the sale, the vice president now owns 8,151 shares of the company’s stock, valued at $3,720,279.42. This trade represents a 47.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LIN shares. Sanford C. Bernstein upgraded Linde to a “strong-buy” rating in a research note on Thursday, April 3rd. Royal Bank Of Canada started coverage on Linde in a research note on Friday, June 13th. They issued an “outperform” rating and a $576.00 price objective for the company. Finally, Argus upgraded Linde to a “strong-buy” rating in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $510.40.

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.