Artemis Investment Management LLP raised its holdings in Linde PLC (NYSE:LIN) by 48.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 301,774 shares of the basic materials company’s stock after buying an additional 98,741 shares during the quarter. Artemis Investment Management LLP’s holdings in Linde were worth $58,348,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Krane Funds Advisors LLC bought a new stake in Linde in the 2nd quarter valued at $25,000. Alera Investment Advisors LLC increased its holdings in Linde by 50.9% in the 1st quarter. Alera Investment Advisors LLC now owns 243 shares of the basic materials company’s stock valued at $43,000 after buying an additional 82 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Linde in the 2nd quarter valued at $46,000. Ruggie Capital Group bought a new stake in Linde in the 2nd quarter valued at $48,000. Finally, Stonebridge Capital Advisors LLC bought a new stake in Linde in the 2nd quarter valued at $49,000. 73.81% of the stock is currently owned by hedge funds and other institutional investors.
NYSE LIN traded up $4.15 on Thursday, hitting $191.54. 41,681 shares of the company were exchanged, compared to its average volume of 1,476,600. The firm has a 50 day moving average of $188.87 and a two-hundred day moving average of $189.52. The company has a quick ratio of 0.85, a current ratio of 1.02 and a debt-to-equity ratio of 0.23. Linde PLC has a 1-year low of $145.95 and a 1-year high of $206.82.
Linde (NYSE:LIN) last issued its quarterly earnings results on Monday, August 5th. The basic materials company reported $1.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $7.16 billion. Linde had a net margin of 19.45% and a return on equity of 12.10%. On average, research analysts expect that Linde PLC will post 7.13 earnings per share for the current fiscal year.
The business also recently declared a dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.875 per share. The ex-dividend date of this dividend was Friday, August 30th.
In related news, VP Bernd Hugo Eulitz sold 335 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $186.43, for a total transaction of $62,454.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on LIN. Bank of America upped their target price on shares of Linde from $180.00 to $184.00 and gave the stock an “underperform” rating in a report on Tuesday, August 6th. Zacks Investment Research raised shares of Linde from a “hold” rating to a “buy” rating and set a $211.00 target price on the stock in a report on Thursday, August 8th. UBS Group reaffirmed a “buy” rating on shares of Linde in a report on Friday, July 12th. JPMorgan Chase & Co. upped their target price on shares of Linde from $206.00 to $208.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Deutsche Bank upped their target price on shares of Linde from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $201.83.
Linde Company Profile
Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
Read More: Cost of Goods Sold (COGS)
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