Daiwa Securities Group Inc. Raises Stake in Linde plc (NASDAQ:LIN)

24 Nov 2024, 15:08 by Kim Johansen · The Markets Daily

Daiwa Securities Group Inc. boosted its position in Linde plc (NASDAQ:LIN – Free Report) by 25.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 124,898 shares of the basic materials company’s stock after purchasing an additional 25,304 shares during the period. Daiwa Securities Group Inc.’s holdings in Linde were worth $59,559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in shares of Linde during the second quarter valued at approximately $28,000. Kozak & Associates Inc. purchased a new stake in shares of Linde during the third quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Linde during the third quarter valued at approximately $43,000. J.Safra Asset Management Corp purchased a new stake in shares of Linde during the second quarter valued at approximately $42,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Linde by 133.3% during the second quarter. Hazlett Burt & Watson Inc. now owns 98 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Linde Stock Performance

Shares of Linde stock opened at $454.78 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $216.55 billion, a P/E ratio of 34.53, a P/E/G ratio of 2.92 and a beta of 0.94. The business has a fifty day simple moving average of $468.54 and a two-hundred day simple moving average of $453.48. Linde plc has a 12 month low of $396.07 and a 12 month high of $487.49.

Linde (NASDAQ:LIN – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.89 by $0.05. The business had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.39 billion. Linde had a return on equity of 18.16% and a net margin of 19.33%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.63 earnings per share. On average, equities analysts forecast that Linde plc will post 15.48 earnings per share for the current fiscal year.

Linde Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a $1.39 dividend. This represents a $5.56 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Tuesday, December 3rd. Linde’s dividend payout ratio is presently 42.22%.

Wall Street Analysts Forecast Growth

LIN has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Linde from $510.00 to $515.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Erste Group Bank reaffirmed a “hold” rating on shares of Linde in a research note on Tuesday, November 19th. Mizuho raised their price target on Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays raised their price target on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Bank of America raised their price target on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $490.75.

Check Out Our Latest Report on Linde

Insider Transactions at Linde

In other news, VP John Panikar sold 10,025 shares of Linde stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total value of $4,639,068.75. Following the completion of the transaction, the vice president now owns 17,584 shares of the company’s stock, valued at $8,136,996. The trade was a 36.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by insiders.

About Linde

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