Corebridge Financial Inc. Has $66.65 Million Position in Linde plc (NASDAQ:LIN)

Corebridge Financial Inc. lowered its position in shares of Linde plc (NASDAQ:LIN) by 2.9% during the fourth quarter, HoldingsChannel reports. The fund owned 159,189 shares of the basic materials company’s stock after selling 4,678 shares during the quarter. Linde comprises about 0.4% of Corebridge Financial Inc.’s portfolio, making the stock its 29th largest holding. Corebridge Financial Inc.’s holdings in Linde were worth $66,648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Linde by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 10,973,175 shares of the basic materials company’s stock valued at $5,217,197,000 after purchasing an additional 154,792 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Linde by 372.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,288,088 shares of the basic materials company’s stock valued at $1,567,958,000 after purchasing an additional 2,592,682 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Linde by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,105,290 shares of the basic materials company’s stock worth $1,300,092,000 after acquiring an additional 89,408 shares in the last quarter. Nordea Investment Management AB increased its holdings in Linde by 2.2% during the 4th quarter. Nordea Investment Management AB now owns 2,145,643 shares of the basic materials company’s stock worth $898,188,000 after purchasing an additional 46,843 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its position in Linde by 3.0% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,680,279 shares of the basic materials company’s stock valued at $703,482,000 after buying an additional 49,374 shares during the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LIN. TD Cowen raised Linde from a “hold” rating to a “buy” rating and increased their price target for the company from $480.00 to $515.00 in a research report on Monday, January 13th. Citigroup dropped their price target on shares of Linde from $490.00 to $480.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $501.82.

Linde Trading Up 0.1 %

Shares of LIN stock opened at $458.33 on Monday. The company has a market capitalization of $216.75 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 3.08 and a beta of 0.94. Linde plc has a 52-week low of $410.69 and a 52-week high of $487.49. The business’s fifty day moving average is $452.96 and its 200 day moving average is $454.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.89.

Linde (NASDAQ:LIN) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.93 by $0.04. Linde had a return on equity of 18.71% and a net margin of 19.89%. On average, equities research analysts anticipate that Linde plc will post 16.54 EPS for the current fiscal year.

Linde Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $1.50 dividend. This is an increase from Linde’s previous quarterly dividend of $1.39. This represents a $6.00 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, March 13th. Linde’s dividend payout ratio (DPR) is currently 44.09%.

Insider Buying and Selling at Linde

In related news, VP Juergen Nowicki sold 6,782 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $459.62, for a total transaction of $3,117,142.84. Following the completion of the sale, the vice president now directly owns 14,765 shares in the company, valued at $6,786,289.30. This represents a 31.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert L. Wood sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $456.26, for a total value of $1,323,154.00. Following the completion of the sale, the director now owns 14,013 shares of the company’s stock, valued at $6,393,571.38. The trade was a 17.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,159 shares of company stock worth $5,603,843 over the last three months. 0.60% of the stock is owned by insiders.

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.