WCM Investment Management LLC Cuts Stock Position in Linde plc (NASDAQ:LIN)

WCM Investment Management LLC lowered its position in shares of Linde plc (NASDAQ:LIN) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,424,245 shares of the basic materials company’s stock after selling 31,071 shares during the period. Linde comprises about 3.7% of WCM Investment Management LLC’s investment portfolio, making the stock its 6th biggest holding. WCM Investment Management LLC’s holdings in Linde were worth $1,641,960,000 at the end of the most recent reporting period.

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

Linde Stock Performance

Shares of NASDAQ LIN traded up $0.49 during midday trading on Monday, hitting $459.97. 294,198 shares of the company’s stock traded hands, compared to its average volume of 1,828,750. The firm has a fifty day moving average of $471.60 and a 200 day moving average of $452.40. Linde plc has a 1 year low of $395.00 and a 1 year high of $487.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96. The stock has a market capitalization of $219.02 billion, a price-to-earnings ratio of 34.89, a price-to-earnings-growth ratio of 2.94 and a beta of 0.94.

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

Linde Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Tuesday, December 3rd. Linde’s payout ratio is 42.22%.

Insiders Place Their Bets

In other Linde news, VP John Panikar sold 10,025 shares of Linde 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 of the company’s stock, valued at $8,136,996. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.