Linde plc (NASDAQ:LIN) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC cut its position in shares of Linde plc (NASDAQ:LIN) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,063 shares of the basic materials company’s stock after selling 70 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Linde were worth $847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carmel Capital Partners LLC acquired a new stake in shares of Linde in the third quarter valued at about $26,000. Annapolis Financial Services LLC grew its stake in shares of Linde by 122.6% in the third quarter. Annapolis Financial Services LLC now owns 69 shares of the basic materials company’s stock valued at $26,000 after buying an additional 38 shares in the last quarter. Provence Wealth Management Group acquired a new stake in shares of Linde in the third quarter valued at about $29,000. FWL Investment Management LLC acquired a new stake in shares of Linde in the fourth quarter valued at about $30,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Linde in the fourth quarter valued at about $36,000. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Linde

In related news, CFO Matthew J. White sold 51,231 shares of Linde stock in a transaction on Monday, March 4th. The stock was sold at an average price of $455.84, for a total transaction of $23,353,139.04. Following the completion of the sale, the chief financial officer now owns 57,634 shares of the company’s stock, valued at $26,271,882.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Matthew J. White sold 51,231 shares of Linde stock in a transaction on Monday, March 4th. The stock was sold at an average price of $455.84, for a total transaction of $23,353,139.04. Following the completion of the sale, the chief financial officer now owns 57,634 shares of the company’s stock, valued at $26,271,882.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sean Durbin sold 5,277 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $467.39, for a total value of $2,466,417.03. Following the transaction, the vice president now owns 8,151 shares in the company, valued at $3,809,695.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,248 shares of company stock valued at $35,811,988. Insiders own 0.70% of the company’s stock.

Linde Stock Up 0.2 %

LIN opened at $445.78 on Wednesday. Linde plc has a 12 month low of $350.60 and a 12 month high of $477.71. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.80 and a quick ratio of 0.67. The stock has a market cap of $214.68 billion, a P/E ratio of 35.38, a P/E/G ratio of 2.90 and a beta of 0.93. The stock’s 50 day moving average price is $452.10 and its 200 day moving average price is $417.35.

Linde (NASDAQ:LIN) last issued its quarterly earnings results on Tuesday, February 6th. The basic materials company reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.49 by $0.10. Linde had a return on equity of 17.06% and a net margin of 18.87%. The company had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.04 billion. During the same period last year, the firm earned $3.16 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts predict that Linde plc will post 15.58 earnings per share for the current year.

Linde Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $1.39 per share. This is a boost from Linde’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $5.56 dividend on an annualized basis and a yield of 1.25%. Linde’s dividend payout ratio (DPR) is presently 44.13%.

Wall Street Analyst Weigh In

LIN has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Linde from $480.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Citigroup downgraded Linde from a “buy” rating to a “neutral” rating and increased their price target for the company from $475.00 to $500.00 in a report on Wednesday, April 10th. Seaport Res Ptn downgraded Linde from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Mizuho increased their price target on Linde from $503.00 to $510.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Finally, Wolfe Research initiated coverage on Linde in a report on Friday, March 1st. They issued a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $456.79.

Linde Company Profile

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.