Scopus Asset Management L.P. trimmed its holdings in Linde plc (NYSE:LIN) by 68.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,900 shares of the basic materials company’s stock after selling 107,100 shares during the quarter. Scopus Asset Management L.P.’s holdings in Linde were worth $13,979,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in LIN. Tortoise Investment Management LLC boosted its holdings in Linde by 131.6% in the first quarter. Tortoise Investment Management LLC now owns 88 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 50 shares in the last quarter. Prime Capital Investment Advisors LLC acquired a new position in Linde in the first quarter valued at approximately $27,000. Brand Asset Management Group Inc. acquired a new position in Linde in the first quarter valued at approximately $28,000. Heritage Wealth Advisors acquired a new position in Linde in the first quarter valued at approximately $28,000. Finally, Sageworth Trust Co purchased a new stake in Linde in the first quarter valued at approximately $28,000. 73.18% of the stock is owned by hedge funds and other institutional investors.
Linde stock traded up $1.23 during trading hours on Thursday, hitting $295.43. The stock had a trading volume of 14,688 shares, compared to its average volume of 2,599,056. The company has a quick ratio of 0.63, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The company has a market cap of $153.63 billion, a PE ratio of 53.49, a price-to-earnings-growth ratio of 2.61 and a beta of 0.78. Linde plc has a 1-year low of $214.14 and a 1-year high of $305.71. The firm has a fifty day simple moving average of $293.09.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 17th. Shareholders of record on Thursday, June 3rd were issued a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 1.44%. The ex-dividend date was Wednesday, June 2nd. Linde’s dividend payout ratio (DPR) is 51.52%.
A number of equities research analysts have weighed in on LIN shares. Barclays boosted their price objective on Linde from $285.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, May 7th. Baader Bank reiterated a “buy” rating on shares of Linde in a research note on Sunday, May 16th. Wolfe Research assumed coverage on Linde in a research note on Wednesday, June 9th. They set a “market perform” rating for the company. Zacks Investment Research upgraded Linde from a “hold” rating to a “buy” rating and set a $310.00 price target for the company in a research note on Friday, July 16th. Finally, Cowen assumed coverage on Linde in a research note on Wednesday, March 24th. They set a “market perform” rating and a $300.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $323.00.
Linde Plc engages in the production and distribution of industrial gases. It operates through the following segments: Americas; Europe, Middle East, and Africa (EMEA); Asia and South Pacific (APAC); Engineering; and Other. The America segment operates production facilities in the U.S., Canada, Mexico, and Brazil.
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