Envestnet Asset Management Inc. Has $420.44 Million Holdings in Linde PLC $LIN

Envestnet Asset Management Inc. reduced its stake in shares of Linde PLC (NASDAQ:LIN) by 2.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 885,128 shares of the basic materials company’s stock after selling 25,059 shares during the period. Envestnet Asset Management Inc.’s holdings in Linde were worth $420,436,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Linde during the second quarter valued at approximately $3,098,772,000. Assenagon Asset Management S.A. lifted its position in shares of Linde by 82.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,683,248 shares of the basic materials company’s stock worth $799,543,000 after purchasing an additional 760,954 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Linde by 18.5% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,972,515 shares of the basic materials company’s stock valued at $1,394,198,000 after acquiring an additional 463,977 shares during the period. ABN AMRO Bank N.V. bought a new position in Linde in the second quarter valued at about $187,359,000. Finally, Neuberger Berman Group LLC increased its position in Linde by 48.7% in the second quarter. Neuberger Berman Group LLC now owns 1,131,132 shares of the basic materials company’s stock worth $530,617,000 after purchasing an additional 370,261 shares during the period. 82.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. CICC Research assumed coverage on shares of Linde in a research report on Wednesday, December 3rd. They set an “outperform” rating and a $510.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Linde in a research note on Monday, December 29th. Sanford C. Bernstein reiterated an “outperform” rating and set a $516.00 target price on shares of Linde in a research report on Monday, November 3rd. BMO Capital Markets set a $501.00 price target on Linde in a research note on Wednesday, December 17th. Finally, Royal Bank Of Canada decreased their price objective on Linde from $540.00 to $490.00 and set an “outperform” rating for the company in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $501.75.

Linde Trading Up 2.1%

Shares of NASDAQ LIN opened at $473.33 on Thursday. The stock has a market cap of $221.02 billion, a price-to-earnings ratio of 31.70, a P/E/G ratio of 3.25 and a beta of 0.84. Linde PLC has a twelve month low of $387.78 and a twelve month high of $486.38. The company has a quick ratio of 0.69, a current ratio of 0.82 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average is $429.29 and its 200-day moving average is $447.90.

Linde Profile

Linde (NASDAQ: LIN) is a multinational industrial gases and engineering company that supplies gases, related technologies and services to a wide range of industries. The company traces its current form to the 2018 combination of Germany’s Linde AG and U.S.-based Praxair, creating one of the largest global providers of industrial, specialty and medical gases. Linde’s business model centers on production, processing and distribution of gases as well as the design and construction of the plants and equipment needed to produce them.

Core products and services include atmospheric and process gases such as oxygen, nitrogen and argon; hydrogen and helium; carbon dioxide; and a portfolio of higher?value specialty and electronic gases.