Penserra Capital Management LLC Sells 580 Shares of Linde plc (NASDAQ:LIN)

Penserra Capital Management LLC lowered its holdings in Linde plc (NASDAQ:LIN) by 25.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,733 shares of the basic materials company’s stock after selling 580 shares during the period. Penserra Capital Management LLC’s holdings in Linde were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its holdings in shares of Linde by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,449,218 shares of the basic materials company’s stock valued at $1,513,551,000 after acquiring an additional 15,187 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Linde by 7.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,112,160 shares of the basic materials company’s stock valued at $1,365,647,000 after purchasing an additional 218,746 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Linde by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,015,882 shares of the basic materials company’s stock worth $1,438,154,000 after purchasing an additional 50,882 shares during the last quarter. Impax Asset Management Group plc raised its stake in shares of Linde by 2.4% during the 3rd quarter. Impax Asset Management Group plc now owns 2,374,339 shares of the basic materials company’s stock worth $1,130,986,000 after purchasing an additional 56,775 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Linde by 8.7% in the 2nd quarter. Clearbridge Investments LLC now owns 1,993,820 shares of the basic materials company’s stock valued at $874,908,000 after buying an additional 160,355 shares during the last quarter. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LIN has been the topic of a number of recent analyst reports. Mizuho boosted their target price on shares of Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Barclays upped their target price on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Erste Group Bank reiterated a “hold” rating on shares of Linde in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price objective on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Bank of America lifted their target price on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Linde currently has an average rating of “Moderate Buy” and a consensus target price of $490.75.

Linde Stock Performance

Shares of NASDAQ LIN opened at $457.12 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.81. The firm has a market cap of $217.66 billion, a price-to-earnings ratio of 34.71, a P/E/G ratio of 2.92 and a beta of 0.94. The stock’s fifty day moving average price is $467.66 and its two-hundred day moving average price is $454.02. Linde plc has a one year low of $396.07 and a one year high of $487.49.

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

Linde Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $1.39 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.22%. Linde’s payout ratio is presently 42.22%.

Insider Transactions at Linde

In related news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. The trade was a 36.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.60% of the company’s stock.

About Linde

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.