Essex LLC Sells 524 Shares of Linde plc (NASDAQ:LIN)

by · The Markets Daily

Essex LLC reduced its position in shares of Linde plc (NASDAQ:LIN – Free Report) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,731 shares of the basic materials company’s stock after selling 524 shares during the period. Essex LLC’s holdings in Linde were worth $3,687,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LIN. Clearbridge Investments LLC lifted its holdings in Linde by 566.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,833,465 shares of the basic materials company’s stock worth $851,314,000 after buying an additional 1,558,538 shares during the period. Swedbank AB bought a new position in shares of Linde during the second quarter valued at approximately $420,720,000. ProShare Advisors LLC lifted its stake in Linde by 91.6% in the first quarter. ProShare Advisors LLC now owns 968,402 shares of the basic materials company’s stock worth $449,648,000 after acquiring an additional 463,096 shares during the period. iA Global Asset Management Inc. bought a new stake in Linde in the first quarter valued at $210,480,000. Finally, AMF Tjanstepension AB increased its position in Linde by 108.7% during the 3rd quarter. AMF Tjanstepension AB now owns 784,477 shares of the basic materials company’s stock valued at $374,086,000 after purchasing an additional 408,659 shares during the period. 82.80% of the stock is owned by institutional investors.

Insider Transactions at Linde

In related news, VP John Panikar sold 10,025 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now owns 17,584 shares in the company, valued at $8,136,996. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

Linde Stock Up 0.1 %

LIN stock opened at $486.45 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average of $469.63 and a 200 day moving average of $450.58. Linde plc has a twelve month low of $361.02 and a twelve month high of $487.49. The firm has a market cap of $233.82 billion, a PE ratio of 37.74, a price-to-earnings-growth ratio of 2.99 and a beta of 0.94.

Linde (NASDAQ:LIN – Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.06. The firm had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $3.57 earnings per share. On average, research analysts forecast that Linde plc will post 15.54 EPS for the current fiscal year.

Linde Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a yield of 1.14%. The ex-dividend date was Wednesday, September 4th. Linde’s dividend payout ratio is currently 43.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LIN shares. Bank of America raised their target price on shares of Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Citigroup raised their price objective on shares of Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. JPMorgan Chase & Co. lifted their price objective on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. UBS Group decreased their target price on Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $477.00 price target on shares of Linde in a research report on Friday, August 30th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Linde currently has an average rating of “Moderate Buy” and a consensus price target of $484.18.

Get Our Latest Report on Linde

Linde Company Profile

(Free Report)

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.

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