Everence Capital Management Inc. acquired a new position in shares of Linde plc (NYSE:LIN) during the 1st quarter, Holdings Channel reports. The fund acquired 23,814 shares of the basic materials company’s stock, valued at approximately $6,671,000. Linde comprises about 0.6% of Everence Capital Management Inc.’s holdings, making the stock its 26th biggest holding.
Other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in Linde by 3.7% during the 4th quarter. California Public Employees Retirement System now owns 1,249,582 shares of the basic materials company’s stock worth $329,277,000 after acquiring an additional 44,533 shares during the last quarter. Zhang Financial LLC lifted its stake in Linde by 14.3% in the fourth quarter. Zhang Financial LLC now owns 2,403 shares of the basic materials company’s stock valued at $633,000 after buying an additional 300 shares in the last quarter. Azimuth Capital Management LLC bought a new position in Linde in the fourth quarter valued at approximately $6,369,000. Fiera Capital Corp lifted its stake in Linde by 0.9% in the fourth quarter. Fiera Capital Corp now owns 947,944 shares of the basic materials company’s stock valued at $249,793,000 after buying an additional 8,188 shares in the last quarter. Finally, Thornburg Investment Management Inc. lifted its stake in Linde by 15.7% in the fourth quarter. Thornburg Investment Management Inc. now owns 39,595 shares of the basic materials company’s stock valued at $10,434,000 after buying an additional 5,363 shares in the last quarter. 72.64% of the stock is currently owned by institutional investors and hedge funds.
In other Linde news, insider Kelcey E. Hoyt sold 2,559 shares of the company’s stock in a transaction on Friday, February 12th. The shares were sold at an average price of $251.66, for a total value of $643,997.94. Following the transaction, the insider now directly owns 6,779 shares in the company, valued at $1,706,003.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by insiders.
LIN traded up $2.16 during trading on Thursday, reaching $283.51. 16,479 shares of the stock were exchanged, compared to its average volume of 1,939,846. The stock has a market cap of $148.23 billion, a P/E ratio of 67.21, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. Linde plc has a twelve month low of $172.76 and a twelve month high of $286.98. The stock’s 50 day moving average price is $263.71 and its two-hundred day moving average price is $252.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.71 and a current ratio of 0.83.
Linde (NYSE:LIN) last issued its earnings results on Thursday, February 4th. The basic materials company reported $2.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.16. Linde had a net margin of 8.29% and a return on equity of 8.56%. The business had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $6.97 billion. Equities research analysts predict that Linde plc will post 8.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 22nd. Shareholders of record on Friday, March 5th were issued a $1.06 dividend. This is an increase from Linde’s previous quarterly dividend of $0.96. This represents a $4.24 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, March 4th. Linde’s payout ratio is currently 57.77%.
Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers oxygen, nitrogen, argon, rare gases, carbon dioxide, hydrogen, helium, electronic and specialty gases, acetylene, and carbon monoxide. The company also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, hydrogen and synthesis gas, and other plants.
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