MAI Capital Management Purchases 521 Shares of Linde plc (NASDAQ:LIN)

MAI Capital Management boosted its position in shares of Linde plc (NASDAQ:LIN) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,890 shares of the basic materials company’s stock after buying an additional 521 shares during the quarter. MAI Capital Management’s holdings in Linde were worth $13,777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Linde during the second quarter worth about $28,000. Strategic Financial Concepts LLC purchased a new stake in Linde in the 2nd quarter worth approximately $33,000. Kozak & Associates Inc. bought a new stake in shares of Linde in the 3rd quarter worth approximately $34,000. J.Safra Asset Management Corp purchased a new position in shares of Linde during the second quarter valued at approximately $42,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Linde during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LIN shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. BMO Capital Markets increased their price objective on Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Bank of America raised their price objective on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Barclays upped their target price on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Linde presently has an average rating of “Moderate Buy” and an average price target of $490.75.

Insider Activity

In related news, VP John Panikar sold 10,025 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now owns 17,584 shares in the company, valued at $8,136,996. This represents a 36.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

Linde Trading Down 0.1 %

NASDAQ:LIN opened at $448.57 on Tuesday. The stock has a market cap of $213.59 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 2.88 and a beta of 0.94. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average price is $469.79 and its 200-day moving average price is $453.00. Linde plc has a 52 week low of $396.07 and a 52 week high of $487.49.

Linde (NASDAQ:LIN) last issued its earnings results on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, beating the consensus estimate of $3.89 by $0.05. Linde had a return on equity of 18.16% and a net margin of 19.33%. The business had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same period last year, the business posted $3.63 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Linde plc will post 15.48 earnings per share for the current fiscal year.

Linde Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a yield of 1.24%. The ex-dividend date is Tuesday, December 3rd. Linde’s dividend payout ratio is currently 42.22%.

Linde 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.