Linde PLC $LIN Stock: Provenance Wealth Advisors LLC Increases Stake

Provenance Wealth Advisors LLC boosted its stake in Linde PLC (NASDAQ:LIN) by 7,338.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,802 shares of the basic materials company’s stock after purchasing an additional 5,724 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Linde were worth $2,754,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp grew its position in shares of Linde by 3.7% during the second quarter. State Street Corp now owns 20,344,181 shares of the basic materials company’s stock valued at $10,558,016,000 after purchasing an additional 719,052 shares in the last quarter. Amundi increased its holdings in shares of Linde by 13.4% in the first quarter. Amundi now owns 3,162,409 shares of the basic materials company’s stock worth $1,567,796,000 after purchasing an additional 373,012 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Linde by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,740,541 shares of the basic materials company’s stock worth $1,358,712,000 after purchasing an additional 64,078 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Linde by 28.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,624,728 shares of the basic materials company’s stock worth $805,475,000 after purchasing an additional 361,664 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of Linde by 6.6% in the first quarter. Swiss National Bank now owns 1,370,361 shares of the basic materials company’s stock worth $679,370,000 after buying an additional 85,360 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Linde Stock Performance

Shares of NASDAQ:LIN opened at $511.55 on Wednesday. Linde PLC has a 52 week low of $387.78 and a 52 week high of $548.20. The stock has a market capitalization of $234.84 billion, a P/E ratio of 33.99, a PEG ratio of 3.07 and a beta of 0.67. The firm has a fifty day simple moving average of $484.60 and a two-hundred day simple moving average of $493.09. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 0.50.

Linde (NASDAQ:LIN) last posted its earnings results on Thursday, October 29th. The basic materials company reported $4.59 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. The firm had revenue of $9.40 billion for the quarter, compared to the consensus estimate of $9.16 billion. Linde had a net margin of 19.34% and a return on equity of 20.32%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.21 EPS. On average, analysts expect that Linde PLC will post 17.89 earnings per share for the current fiscal year.

Linde Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be given a $1.60 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $6.40 annualized dividend and a yield of 1.3%. Linde’s dividend payout ratio (DPR) is currently 42.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Linde from $580.00 to $575.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. Barclays raised their price target on Linde from $577.00 to $591.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Linde in a research note on Monday, October 5th. KeyCorp upped their price objective on Linde from $542.00 to $545.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Mizuho set a $583.00 target price on Linde in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $553.05.

About Linde

Linde plc (NASDAQ:LIN) is a global industrial gases and engineering company. It produces and distributes atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium, carbon dioxide and specialty gases. The company serves customers through packaged gases, bulk deliveries, on-site production and pipeline systems.

Linde’s products and services support a broad range of industries, including healthcare, food and beverage, manufacturing, chemicals, energy, refining, electronics and metals.