Victory Capital Management Inc. Grows Holdings in Linde plc (NYSE:LIN)

Victory Capital Management Inc. increased its position in Linde plc (NYSE:LINGet Rating) by 1,252.6% in the 1st quarter, HoldingsChannel reports. The fund owned 49,708 shares of the basic materials company’s stock after buying an additional 46,033 shares during the quarter. Victory Capital Management Inc.’s holdings in Linde were worth $15,507,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sageworth Trust Co of South Dakota purchased a new stake in Linde in the 4th quarter worth approximately $25,000. Rational Advisors LLC increased its holdings in Linde by 134.4% in the 4th quarter. Rational Advisors LLC now owns 75 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 43 shares in the last quarter. Ritter Daniher Financial Advisory LLC purchased a new stake in Linde during the 4th quarter valued at approximately $31,000. Steward Financial Group LLC purchased a new stake in Linde during the 1st quarter valued at approximately $31,000. Finally, Hoese & Co LLP purchased a new stake in Linde during the 1st quarter valued at approximately $32,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LIN. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Linde from €370.00 ($381.44) to €355.00 ($365.98) and set a “buy” rating for the company in a report on Friday, July 29th. Evercore ISI raised shares of Linde from an “in-line” rating to an “outperform” rating and set a $355.00 price objective for the company in a report on Tuesday, May 31st. Credit Suisse Group began coverage on shares of Linde in a report on Tuesday, May 31st. They set an “outperform” rating and a $380.00 price objective for the company. Bank of America cut their price objective on shares of Linde from $370.00 to $369.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. Finally, Jefferies Financial Group lowered their target price on Linde from $390.00 to $355.00 in a research report on Thursday, June 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $368.86.

Linde Stock Down 0.1 %

Shares of LIN opened at $301.97 on Friday. The company has a market cap of $150.49 billion, a PE ratio of 43.76, a P/E/G ratio of 2.52 and a beta of 0.87. The business has a fifty day moving average of $296.43 and a 200 day moving average of $304.23. Linde plc has a 52-week low of $265.12 and a 52-week high of $352.18. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 0.27.

Linde (NYSE:LINGet Rating) last released its earnings results on Thursday, July 28th. The basic materials company reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.11. Linde had a return on equity of 13.41% and a net margin of 10.88%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same quarter last year, the firm posted $2.70 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts expect that Linde plc will post 11.9 EPS for the current year.

Linde Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a dividend of $1.17 per share. The ex-dividend date is Thursday, September 1st. This represents a $4.68 annualized dividend and a dividend yield of 1.55%. Linde’s dividend payout ratio is currently 67.83%.

About Linde

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Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia 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.

See Also

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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