CWA Asset Management Group LLC Buys New Position in Linde plc (NYSE:LIN)

Posted by Ethan Ryder on Mar 19th, 2023

CWA Asset Management Group LLC bought a new stake in Linde plc (NYSE:LIN – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 766 shares of the basic materials company’s stock, valued at approximately $250,000.

Other institutional investors have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management boosted its holdings in shares of Linde by 92.3% during the 3rd quarter. Hanson & Doremus Investment Management now owns 125 shares of the basic materials company’s stock worth $34,000 after buying an additional 60 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Linde during the 2nd quarter worth approximately $46,000. Western Pacific Wealth Management LP boosted its holdings in shares of Linde by 1,809.1% during the 3rd quarter. Western Pacific Wealth Management LP now owns 210 shares of the basic materials company’s stock worth $56,000 after buying an additional 199 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in shares of Linde during the 3rd quarter worth approximately $57,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Linde during the 2nd quarter worth approximately $58,000. 78.15% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Sean Durbin sold 4,060 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $360.17, for a total transaction of $1,462,290.20. Following the completion of the sale, the vice president now directly owns 8,432 shares of the company’s stock, valued at approximately $3,036,953.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LIN. JPMorgan Chase & Co. increased their price target on Linde from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. BMO Capital Markets increased their price target on Linde from $370.00 to $378.00 and gave the stock an “outperform” rating in a report on Tuesday, February 14th. Mizuho increased their target price on Linde from $346.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, February 8th. The Goldman Sachs Group increased their target price on Linde from $340.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, December 15th. Finally, Wells Fargo & Company increased their target price on Linde from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.67.

Linde Trading Down 2.3 %

NYSE LIN opened at $330.49 on Friday. The firm has a market capitalization of $162.65 billion, a P/E ratio of 40.06, a PEG ratio of 2.53 and a beta of 0.84. The business has a fifty day simple moving average of $334.11 and a 200 day simple moving average of $315.51. Linde plc has a 12 month low of $262.47 and a 12 month high of $362.74. The company has a current ratio of 0.79, a quick ratio of 0.67 and a debt-to-equity ratio of 0.29.

Linde (NYSE:LIN – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The basic materials company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.25. Linde had a return on equity of 14.95% and a net margin of 12.43%. The business had revenue of $7.90 billion during the quarter, compared to analyst estimates of $8.49 billion. During the same period in the prior year, the firm posted $2.77 EPS. Linde’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, analysts predict that Linde plc will post 13.37 EPS for the current fiscal year.

Linde Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 28th. Stockholders of record on Tuesday, March 14th will be given a dividend of $1.275 per share. The ex-dividend date of this dividend is Monday, March 13th. This is a positive change from Linde’s previous quarterly dividend of $1.17. This represents a $5.10 annualized dividend and a dividend yield of 1.54%. Linde’s dividend payout ratio (DPR) is currently 61.82%.

About Linde

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Linde Plc is a global industrial gases and engineering company. It designs and builds equipment that produces industrial gases and offers customers a wide range of gas production and processing services such as olefin plants, natural gas plants, air separation plants, hydrogen and synthesis gas plants and other types of plants.