First National Bank of Mount Dora Trust Investment Services acquired a new stake in Linde plc (NYSE:LIN) during the first quarter, Holdings Channel reports. The institutional investor acquired 4,798 shares of the basic materials company’s stock, valued at approximately $1,344,000.
Other large investors have also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in shares of Linde by 450.4% in the first quarter. First Trust Advisors LP now owns 14,668 shares of the basic materials company’s stock worth $2,581,000 after acquiring an additional 12,003 shares during the period. First City Capital Management Inc. acquired a new stake in Linde during the third quarter worth about $423,000. Lombard Odier Asset Management Switzerland SA acquired a new position in Linde in the third quarter valued at approximately $520,000. AQR Capital Management LLC boosted its position in Linde by 9.3% in the 3rd quarter. AQR Capital Management LLC now owns 402,971 shares of the basic materials company’s stock worth $95,561,000 after purchasing an additional 34,162 shares in the last quarter. Finally, Kiwi Wealth Investments Limited Partnership purchased a new position in shares of Linde during the 3rd quarter valued at approximately $587,000. Hedge funds and other institutional investors own 72.64% of the company’s stock.
In other news, insider Kelcey E. Hoyt sold 2,559 shares of the company’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $251.66, for a total value of $643,997.94. Following the transaction, the insider now owns 6,779 shares of the company’s stock, valued at approximately $1,706,003.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is owned by company insiders.
Linde (NYSE:LIN) last announced its quarterly earnings data on Thursday, February 4th. The basic materials company reported $2.30 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $6.97 billion. On average, analysts forecast that Linde plc will post 8.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 22nd. Investors of record on Friday, March 5th were given a $1.06 dividend. This represents a $4.24 annualized dividend and a yield of 1.50%. This is a positive change from Linde’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend was Thursday, March 4th. Linde’s dividend payout ratio is presently 57.77%.
LIN has been the topic of several recent analyst reports. DZ Bank reissued a “buy” rating on shares of Linde in a research note on Friday, February 19th. Morgan Stanley raised their price objective on Linde from $281.00 to $285.00 and gave the company an “overweight” rating in a report on Monday, February 8th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Linde in a research note on Monday, February 8th. Wells Fargo & Company lifted their price target on shares of Linde from $300.00 to $311.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Linde in a research report on Friday, February 5th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $267.24.
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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