Modera Wealth Management LLC Acquires 1,959 Shares of Linde PLC $LIN

Modera Wealth Management LLC acquired a new position in Linde PLC (NASDAQ:LIN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,959 shares of the basic materials company’s stock, valued at approximately $930,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LIN. Flossbach Von Storch SE purchased a new stake in Linde in the second quarter valued at about $438,525,000. State Street Corp grew its stake in shares of Linde by 3.7% during the second quarter. State Street Corp now owns 20,344,181 shares of the basic materials company’s stock worth $10,558,016,000 after acquiring an additional 719,052 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Linde by 162.9% during the first quarter. Hsbc Holdings PLC now owns 1,097,110 shares of the basic materials company’s stock worth $543,951,000 after acquiring an additional 679,738 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Linde by 394.8% during the first quarter. Renaissance Technologies LLC now owns 629,820 shares of the basic materials company’s stock valued at $312,240,000 after acquiring an additional 502,520 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of Linde by 2,320.1% during the first quarter. Bessemer Group Inc. now owns 464,011 shares of the basic materials company’s stock valued at $230,038,000 after acquiring an additional 444,838 shares in the last quarter. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Linde Stock Performance

Shares of LIN opened at $519.72 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.75 and a current ratio of 0.88. The stock has a 50-day moving average of $484.17 and a two-hundred day moving average of $492.74. The stock has a market cap of $239.58 billion, a P/E ratio of 34.53, a P/E/G ratio of 2.96 and a beta of 0.71. Linde PLC has a one year low of $387.78 and a one year high of $548.20.

Linde (NASDAQ:LIN) last announced its quarterly earnings data on Thursday, October 29th. The basic materials company reported $4.59 earnings per share for the quarter, beating analysts’ consensus estimates of $4.52 by $0.07. The business had revenue of $9.40 billion for the quarter, compared to analyst estimates of $9.16 billion. Linde had a return on equity of 20.09% and a net margin of 20.43%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $4.21 earnings per share. As a group, research analysts predict that Linde PLC will post 17.88 EPS for the current year.

Linde Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 1.2%. Linde’s payout ratio is 42.52%.

Wall Street Analyst Weigh In

Several brokerages recently commented on LIN. Royal Bank Of Canada increased their price objective on shares of Linde from $549.00 to $568.00 and gave the company an “outperform” rating in a research report on Friday. DZ Bank reissued a “neutral” rating on shares of Linde in a research report on Thursday, August 6th. Barclays upped their price target on shares of Linde from $577.00 to $591.00 and gave the company an “overweight” rating in a research note on Friday. Berenberg Bank reaffirmed a “buy” rating on shares of Linde in a report on Tuesday, August 4th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Linde in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Linde has a consensus rating of “Moderate Buy” and a consensus price target of $553.05.

Linde Company Profile

Linde plc (NASDAQ:LIN) is a global industrial gases and engineering company. It produces and distributes atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide and specialty gases. The company serves customers through packaged gases, bulk deliveries, on-site production and pipeline systems.

Linde’s products and services support a broad range of industries, including healthcare, food and beverage, manufacturing, chemicals, energy, refining, electronics and metals.