Linde PLC (NASDAQ:LIN) Shares Acquired by Seven Mile Advisory

Seven Mile Advisory grew its position in Linde PLC (NASDAQ:LIN) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 816 shares of the basic materials company’s stock after purchasing an additional 59 shares during the period. Seven Mile Advisory’s holdings in Linde were worth $380,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. North Capital Inc. purchased a new stake in shares of Linde during the 1st quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in shares of Linde during the 4th quarter valued at about $31,000. Dunhill Financial LLC purchased a new stake in shares of Linde during the 4th quarter valued at about $34,000. Abound Financial LLC purchased a new stake in Linde during the 1st quarter worth approximately $41,000. Finally, Capital A Wealth Management LLC purchased a new stake in Linde during the 4th quarter worth approximately $37,000. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Linde

In related news, Director Stephen F. Angel sold 50,309 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $473.38, for a total transaction of $23,815,274.42. Following the completion of the transaction, the director owned 480,543 shares in the company, valued at $227,479,445.34. The trade was a 9.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the vice president owned 8,151 shares of the company’s stock, valued at $3,720,279.42. This represents a 47.11% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LIN shares. Citigroup upgraded Linde from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $500.00 to $535.00 in a report on Monday, June 30th. JPMorgan Chase & Co. lifted their price objective on Linde from $470.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, August 4th. Royal Bank Of Canada started coverage on Linde in a report on Friday, June 13th. They set an “outperform” rating and a $576.00 price objective on the stock. Finally, UBS Group lifted their price objective on Linde from $485.00 to $504.00 and gave the stock a “neutral” rating in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $519.63.

Linde Price Performance

Shares of LIN opened at $480.08 on Friday. The firm has a market cap of $225.11 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 3.17 and a beta of 0.92. The stock has a 50 day moving average of $468.28 and a 200-day moving average of $460.15. The company has a current ratio of 0.93, a quick ratio of 0.78 and a debt-to-equity ratio of 0.49. Linde PLC has a 52 week low of $408.65 and a 52 week high of $487.49.

Linde (NASDAQ:LIN) last issued its earnings results on Friday, August 1st. The basic materials company reported $4.09 EPS for the quarter, topping the consensus estimate of $4.03 by $0.06. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.35 billion. Linde had a return on equity of 19.09% and a net margin of 20.20%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.85 EPS. As a group, analysts forecast that Linde PLC will post 16.54 EPS for the current year.

Linde Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a $1.50 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.00 annualized dividend and a dividend yield of 1.2%. Linde’s dividend payout ratio (DPR) is presently 42.67%.

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.