Patron Partners LLC Acquires 47 Shares of Linde plc (NASDAQ:LIN)

Patron Partners LLC increased its stake in Linde plc (NASDAQ:LIN) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,567 shares of the basic materials company’s stock after purchasing an additional 47 shares during the quarter. Patron Partners LLC’s holdings in Linde were worth $688,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Retirement Group LLC purchased a new stake in shares of Linde in the first quarter worth $25,000. Summit Securities Group LLC bought a new position in Linde in the 2nd quarter worth $28,000. First Pacific Financial bought a new position in Linde in the 1st quarter worth $30,000. Scarborough Advisors LLC purchased a new stake in Linde in the 4th quarter worth $30,000. Finally, Valued Wealth Advisors LLC raised its holdings in Linde by 49.0% during the first quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 24 shares during the period. 82.80% of the stock is owned by institutional investors.

Linde Stock Down 1.9 %

Shares of NASDAQ:LIN opened at $456.85 on Friday. The company has a market cap of $218.15 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 3.00 and a beta of 0.94. Linde plc has a 12 month low of $361.02 and a 12 month high of $479.79. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $451.18 and a 200 day moving average price of $447.87.

Linde (NASDAQ:LIN) last posted its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.06. The business had revenue of $8.30 billion during the quarter, compared to analyst estimates of $8.30 billion. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company earned $3.57 EPS. As a group, equities research analysts predict that Linde plc will post 15.54 earnings per share for the current year.

Linde Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $1.39 dividend. This represents a $5.56 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Wednesday, September 4th. Linde’s dividend payout ratio is currently 43.13%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LIN. Barclays increased their target price on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Bank of America lifted their price objective on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Citigroup upped their target price on shares of Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. UBS Group cut their target price on shares of Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $477.00 price target on shares of Linde in a research note on Friday, August 30th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $484.18.

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.