Wedge Capital Management L L P NC Takes $256,000 Position in Linde plc (NYSE:LIN)

Wedge Capital Management L L P NC purchased a new stake in Linde plc (NYSE:LINGet Rating) in the second quarter, HoldingsChannel reports. The firm purchased 889 shares of the basic materials company’s stock, valued at approximately $256,000.

A number of other large investors have also made changes to their positions in LIN. Steward Financial Group LLC acquired a new stake in shares of Linde during the first quarter valued at $31,000. Hoese & Co LLP acquired a new stake in shares of Linde during the first quarter valued at $32,000. Herold Advisors Inc. acquired a new stake in shares of Linde during the first quarter valued at $32,000. Rational Advisors LLC boosted its stake in shares of Linde by 64.0% during the first quarter. Rational Advisors LLC now owns 123 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 48 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. boosted its stake in shares of Linde by 45.1% during the first quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 77.07% of the company’s stock.

Linde Stock Performance

Shares of NYSE:LIN opened at $276.53 on Thursday. The company has a market cap of $137.81 billion, a P/E ratio of 40.08, a PEG ratio of 2.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.62 and a current ratio of 0.74. Linde plc has a one year low of $265.12 and a one year high of $352.18. The business’s 50-day simple moving average is $291.46 and its 200 day simple moving average is $301.70.

Linde (NYSE:LINGet Rating) last announced its earnings results on Thursday, July 28th. The basic materials company reported $3.10 EPS for the quarter, beating the consensus estimate of $2.98 by $0.12. 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 the consensus estimate of $8.39 billion. During the same period last year, the business posted $2.70 EPS. The company’s revenue was up 12.1% on a year-over-year basis. On average, sell-side analysts forecast that Linde plc will post 11.89 earnings per share for the current fiscal year.

Linde Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a dividend of $1.17 per share. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $4.68 annualized dividend and a yield of 1.69%. Linde’s dividend payout ratio is presently 67.83%.

Analysts Set New Price Targets

A number of analysts recently commented on LIN shares. Bank of America decreased their price objective on Linde from $370.00 to $369.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. UBS Group decreased their price target on Linde from $355.00 to $320.00 and set a “buy” rating on the stock in a research note on Monday, September 12th. Credit Suisse Group started coverage on Linde in a research note on Tuesday, May 31st. They issued an “outperform” rating and a $380.00 price target on the stock. Evercore ISI raised Linde from an “in-line” rating to an “outperform” rating and set a $355.00 price target on the stock in a research note on Tuesday, May 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Linde from €370.00 ($377.55) to €355.00 ($362.24) and set a “buy” rating on the stock in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Linde presently has an average rating of “Moderate Buy” and an average target price of $365.60.

Linde Company Profile

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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.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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