Shelter Mutual Insurance Co Trims Holdings in Linde PLC (NYSE:LIN)

Shelter Mutual Insurance Co decreased its stake in shares of Linde PLC (NYSE:LIN) by 8.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,390 shares of the basic materials company’s stock after selling 3,150 shares during the quarter. Linde comprises 1.9% of Shelter Mutual Insurance Co’s holdings, making the stock its 22nd largest position. Shelter Mutual Insurance Co’s holdings in Linde were worth $6,705,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in LIN. Patriot Financial Group Insurance Agency LLC acquired a new stake in Linde during the first quarter worth $29,000. Truvestments Capital LLC acquired a new stake in Linde during the first quarter worth $30,000. Harvest Group Wealth Management LLC acquired a new stake in Linde during the first quarter worth $31,000. Israel Discount Bank of New York acquired a new stake in Linde during the first quarter worth $35,000. Finally, Baystate Wealth Management LLC acquired a new stake in Linde during the first quarter worth $40,000. Hedge funds and other institutional investors own 72.69% of the company’s stock.

In other news, CEO Stephen F. Angel sold 56,574 shares of Linde stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $197.27, for a total value of $11,160,352.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eduardo F. Menezes sold 19,056 shares of Linde stock in a transaction on Friday, May 17th. The shares were sold at an average price of $188.23, for a total value of $3,586,910.88. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Shares of NYSE LIN traded up $1.00 during trading on Thursday, reaching $186.64. The stock had a trading volume of 30,411 shares, compared to its average volume of 1,888,760. Linde PLC has a fifty-two week low of $145.95 and a fifty-two week high of $206.82. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.85 and a current ratio of 1.02. The stock has a 50-day moving average price of $198.71. The stock has a market capitalization of $104.73 billion, a P/E ratio of 30.08, a P/E/G ratio of 2.14 and a beta of 0.76.

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Linde from $206.00 to $208.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. BMO Capital Markets raised Linde from a “market perform” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Monday, May 13th. Zacks Investment Research raised Linde from a “hold” rating to a “buy” rating and set a $211.00 target price for the company in a research note on Thursday, August 8th. ValuEngine cut Linde from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, Sanford C. Bernstein reaffirmed a “sell” rating on shares of Linde in a research note on Thursday, July 18th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Linde currently has a consensus rating of “Buy” and a consensus target price of $201.83.

Linde Company Profile

Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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