Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,918 Shares of Linde PLC (NASDAQ:LIN)

by · The Markets Daily

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Linde PLC (NASDAQ:LIN – Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,341 shares of the basic materials company’s stock after purchasing an additional 1,918 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Linde were worth $28,097,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of LIN. Rakuten Securities Inc. raised its holdings in Linde by 1,160.0% during the 4th quarter. Rakuten Securities Inc. now owns 63 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 58 shares during the last quarter. Putney Financial Group LLC acquired a new stake in shares of Linde during the fourth quarter worth $31,000. Dunhill Financial LLC acquired a new position in Linde in the fourth quarter valued at $34,000. New Age Alpha Advisors LLC boosted its position in Linde by 34.9% during the fourth quarter. New Age Alpha Advisors LLC now owns 85 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 22 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new stake in Linde during the 4th quarter worth about $37,000. Institutional investors own 82.80% of the company’s stock.

Insider Buying and Selling

In other Linde news, VP David P. Strauss sold 1,987 shares of Linde stock in a transaction on Friday, May 16th. The shares were sold at an average price of $457.04, for a total transaction of $908,138.48. Following the transaction, the vice president directly owned 22,639 shares of the company’s stock, valued at $10,346,928.56. The trade was a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sean Durbin sold 7,261 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $456.42, for a total transaction of $3,314,065.62. Following the completion of the sale, the vice president owned 8,151 shares of the company’s stock, valued at approximately $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 owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LIN shares. Citigroup raised Linde from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $500.00 to $535.00 in a research note on Monday. Argus raised Linde to a “strong-buy” rating in a research note on Tuesday, April 8th. Royal Bank Of Canada began coverage on shares of Linde in a research report on Friday, June 13th. They set an “outperform” rating and a $576.00 price objective for the company. Finally, Sanford C. Bernstein upgraded shares of Linde to a “strong-buy” rating in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Linde presently has a consensus rating of “Buy” and a consensus price target of $515.90.

Read Our Latest Research Report on Linde

Linde Stock Performance

Shares of LIN stock opened at $469.18 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.80 and a debt-to-equity ratio of 0.45. The firm has a fifty day simple moving average of $459.44 and a two-hundred day simple moving average of $450.01. Linde PLC has a 12 month low of $408.65 and a 12 month high of $487.49. The firm has a market capitalization of $220.85 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 3.27 and a beta of 0.97.

Linde (NASDAQ:LIN – Get Free Report) last posted its earnings results on Thursday, May 1st. The basic materials company reported $3.95 EPS for the quarter, topping the consensus estimate of $3.92 by $0.03. Linde had a net margin of 20.02% and a return on equity of 18.95%. The company had revenue of $8.11 billion during the quarter, compared to the consensus estimate of $8.24 billion. During the same period in the previous year, the firm posted $3.75 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts forecast that Linde PLC will post 16.54 EPS for the current fiscal year.

Linde Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.28%. The ex-dividend date was Wednesday, June 4th. Linde’s dividend payout ratio (DPR) is presently 43.57%.

Linde 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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