MAI Capital Management Lowers Holdings in Linde plc (NYSE:LIN)

Posted by Defense World Staff on Aug 21st, 2023

MAI Capital Management reduced its stake in Linde plc (NYSE:LIN – Free Report) by 10.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,802 shares of the basic materials company’s stock after selling 448 shares during the period. MAI Capital Management’s holdings in Linde were worth $1,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Weiss Asset Management LP purchased a new stake in shares of Linde during the first quarter valued at approximately $34,737,000. Bfsg LLC increased its holdings in shares of Linde by 1.3% in the 1st quarter. Bfsg LLC now owns 13,258 shares of the basic materials company’s stock worth $4,712,000 after purchasing an additional 165 shares in the last quarter. Qsemble Capital Management LP raised its stake in shares of Linde by 144.4% in the first quarter. Qsemble Capital Management LP now owns 2,200 shares of the basic materials company’s stock worth $782,000 after purchasing an additional 1,300 shares during the last quarter. ICW Investment Advisors LLC raised its stake in shares of Linde by 2.2% in the first quarter. ICW Investment Advisors LLC now owns 6,735 shares of the basic materials company’s stock worth $2,394,000 after purchasing an additional 146 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Linde by 11.9% during the first quarter. LPL Financial LLC now owns 151,293 shares of the basic materials company’s stock valued at $53,776,000 after purchasing an additional 16,112 shares in the last quarter. 80.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LIN shares. BMO Capital Markets boosted their target price on Linde from $400.00 to $418.00 in a research report on Monday, July 31st. Wells Fargo & Company lifted their target price on shares of Linde from $420.00 to $444.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Argus increased their price target on Linde from $440.00 to $463.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Linde from $385.00 to $415.00 in a report on Friday, April 28th. Finally, Berenberg Bank boosted their price target on Linde from $375.00 to $415.00 in a research note on Friday, May 12th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.41.

Check Out Our Latest Analysis on LIN

Linde Price Performance

Shares of Linde stock opened at $375.10 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.78 and a debt-to-equity ratio of 0.33. Linde plc has a 52 week low of $262.47 and a 52 week high of $393.67. The stock’s 50-day simple moving average is $377.73 and its 200-day simple moving average is $361.10. The company has a market capitalization of $183.03 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 2.55 and a beta of 0.84.

Linde (NYSE:LIN – Get Free Report) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.10. Linde had a net margin of 17.20% and a return on equity of 16.17%. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the firm posted $3.10 EPS. The company’s revenue was down 3.5% on a year-over-year basis. As a group, analysts expect that Linde plc will post 14.03 earnings per share for the current fiscal year.

Linde Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Tuesday, September 5th will be given a dividend of $1.275 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $5.10 dividend on an annualized basis and a dividend yield of 1.36%. Linde’s payout ratio is 44.50%.

Insider Transactions at Linde

In other Linde news, VP Sean Durbin sold 1,966 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $373.46, for a total transaction of $734,222.36. Following the completion of the transaction, the vice president now owns 8,149 shares in the company, valued at approximately $3,043,325.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Stephen F. Angel sold 39,695 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $391.62, for a total value of $15,545,355.90. Following the completion of the transaction, the director now owns 369,611 shares of the company’s stock, valued at approximately $144,747,059.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sean Durbin sold 1,966 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $373.46, for a total value of $734,222.36. Following the sale, the vice president now directly owns 8,149 shares in the company, valued at $3,043,325.54. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

About Linde

(Free Report)

Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia 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.