Allspring Global Investments Holdings LLC Sells 178,155 Shares of Linde plc (NASDAQ:LIN)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Linde plc (NASDAQ:LIN) by 72.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 67,612 shares of the basic materials company’s stock after selling 178,155 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Linde were worth $32,242,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Retirement Group LLC bought a new stake in Linde during the 1st quarter valued at $25,000. Summit Securities Group LLC purchased a new position in shares of Linde in the 2nd quarter valued at approximately $28,000. Strategic Financial Concepts LLC bought a new stake in shares of Linde during the 2nd quarter valued at $33,000. Valued Wealth Advisors LLC boosted its stake in Linde by 49.0% during the first quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 24 shares in the last quarter. Finally, Kozak & Associates Inc. purchased a new stake in shares of Linde in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Insiders Place Their Bets

In other Linde news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares in the company, valued at $8,136,996. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

LIN has been the topic of several recent analyst reports. UBS Group cut their price objective on shares of Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Barclays lifted their price objective on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. BMO Capital Markets restated an “outperform” rating and set a $477.00 price target on shares of Linde in a research note on Friday, August 30th. Bank of America raised their price objective on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Citigroup lifted their target price on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $484.18.

Linde Stock Down 0.9 %

Shares of LIN opened at $477.43 on Thursday. The business’s 50 day simple moving average is $471.54 and its 200-day simple moving average is $450.99. Linde plc has a 1 year low of $362.33 and a 1 year high of $487.49. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. The stock has a market capitalization of $227.97 billion, a price-to-earnings ratio of 36.33, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.06. The business had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.57 earnings per share. As a group, equities analysts expect that Linde plc will post 15.52 earnings per share for the current fiscal year.

Linde Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s dividend payout ratio is currently 42.31%.

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.