Toroso Investments LLC Raises Stock Position in Linde plc (NYSE:LIN)

Toroso Investments LLC raised its stake in Linde plc (NYSE:LIN – Get Rating) by 7.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,101 shares of the basic materials company’s stock after buying an additional 419 shares during the period. Toroso Investments LLC’s holdings in Linde were worth $1,645,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LIN. Ritter Daniher Financial Advisory LLC DE acquired a new stake in shares of Linde in the second quarter valued at approximately $26,000. Hanson & Doremus Investment Management grew its position in shares of Linde by 92.3% in the third quarter. Hanson & Doremus Investment Management now owns 125 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Linde in the second quarter valued at approximately $46,000. Western Pacific Wealth Management LP grew its position in shares of Linde by 1,809.1% in the third quarter. Western Pacific Wealth Management LP now owns 210 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 199 shares during the last quarter. Finally, Almanack Investment Partners LLC. acquired a new stake in shares of Linde in the third quarter valued at approximately $57,000. 78.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Sean Durbin sold 4,060 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $360.17, for a total value of $1,462,290.20. Following the transaction, the vice president now owns 8,432 shares of the company’s stock, valued at approximately $3,036,953.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Linde from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Linde from $355.00 to $385.00 in a research report on Wednesday, February 8th. Mizuho raised their target price on shares of Linde from $346.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 8th. HSBC raised their target price on shares of Linde from $375.00 to $380.00 in a research report on Friday, February 24th. Finally, Citigroup raised their target price on shares of Linde from $402.00 to $418.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $370.67.

Linde Stock Performance

NYSE:LIN opened at $330.49 on Friday. The firm’s 50 day moving average is $334.11 and its two-hundred day moving average is $315.30. Linde plc has a fifty-two week low of $262.47 and a fifty-two week high of $362.74. The company has a quick ratio of 0.67, a current ratio of 0.79 and a debt-to-equity ratio of 0.29. The company has a market cap of $162.65 billion, a P/E ratio of 40.06, a P/E/G ratio of 2.56 and a beta of 0.84.

Linde (NYSE:LIN – Get Rating) last issued its earnings results on Tuesday, February 7th. The basic materials company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.25. Linde had a net margin of 12.43% and a return on equity of 14.95%. The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter last year, the firm posted $2.77 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts expect that Linde plc will post 13.37 EPS for the current year.

Linde Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, March 14th will be paid a $1.275 dividend. This represents a $5.10 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Monday, March 13th. This is an increase from Linde’s previous quarterly dividend of $1.17. Linde’s dividend payout ratio (DPR) is currently 61.82%.

Linde Profile

(Get Rating)

Linde Plc is a global industrial gases and engineering company. It designs and builds equipment that produces industrial gases and offers customers a wide range of gas production and processing services such as olefin plants, natural gas plants, air separation plants, hydrogen and synthesis gas plants and other types of plants.