Cibc World Markets Corp Sells 13,728 Shares of Linde plc (NYSE:LIN)

Cibc World Markets Corp lessened its holdings in Linde plc (NYSE:LIN) by 27.5% in the second quarter, HoldingsChannel reports. The fund owned 36,119 shares of the basic materials company’s stock after selling 13,728 shares during the period. Cibc World Markets Corp’s holdings in Linde were worth $10,442,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. TCW Group Inc. boosted its position in shares of Linde by 39.4% in the second quarter. TCW Group Inc. now owns 33,857 shares of the basic materials company’s stock valued at $9,788,000 after acquiring an additional 9,562 shares during the period. Captrust Financial Advisors lifted its position in Linde by 7.9% during the first quarter. Captrust Financial Advisors now owns 15,890 shares of the basic materials company’s stock worth $4,451,000 after purchasing an additional 1,158 shares during the period. Stock Yards Bank & Trust Co. lifted its position in Linde by 0.8% during the second quarter. Stock Yards Bank & Trust Co. now owns 61,484 shares of the basic materials company’s stock worth $17,776,000 after purchasing an additional 472 shares during the period. Ontario Teachers Pension Plan Board lifted its position in Linde by 4.4% during the first quarter. Ontario Teachers Pension Plan Board now owns 338,458 shares of the basic materials company’s stock worth $94,816,000 after purchasing an additional 14,120 shares during the period. Finally, US Bancorp DE lifted its position in Linde by 2.0% during the second quarter. US Bancorp DE now owns 225,695 shares of the basic materials company’s stock worth $65,249,000 after purchasing an additional 4,420 shares during the period. 72.10% of the stock is owned by institutional investors.

LIN has been the subject of several recent analyst reports. HSBC upped their price objective on shares of Linde from $272.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, June 3rd. JPMorgan Chase & Co. upped their price objective on shares of Linde from $350.00 to $356.00 and gave the stock an “overweight” rating in a research report on Monday, August 2nd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Linde from $345.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. Wells Fargo & Company increased their target price on shares of Linde from $340.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, August 3rd. Finally, Zacks Investment Research raised shares of Linde from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a report on Friday, July 16th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $335.23.

NYSE:LIN opened at $311.94 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 0.71. The firm has a market cap of $161.09 billion, a price-to-earnings ratio of 50.07, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. Linde plc has a 52 week low of $214.14 and a 52 week high of $317.03. The firm has a 50-day moving average price of $304.46 and a two-hundred day moving average price of $291.89.

Linde (NYSE:LIN) last posted its quarterly earnings data on Friday, July 30th. The basic materials company reported $2.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.17. The firm had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.38 billion. Linde had a net margin of 11.37% and a return on equity of 10.54%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the business posted $1.90 EPS. As a group, sell-side analysts forecast that Linde plc will post 10.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 17th. Shareholders of record on Friday, September 3rd will be paid a $1.06 dividend. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $4.24 annualized dividend and a yield of 1.36%. Linde’s dividend payout ratio (DPR) is 51.52%.

About Linde

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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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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