Cornerstone Wealth Management LLC Increases Holdings in Linde PLC (NASDAQ:LIN)

Cornerstone Wealth Management LLC increased its position in Linde PLC (NASDAQ:LIN) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,425 shares of the basic materials company’s stock after purchasing an additional 420 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Linde were worth $4,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LIN. Brighton Jones LLC bought a new position in shares of Linde during the fourth quarter valued at approximately $2,752,000. Revolve Wealth Partners LLC lifted its holdings in Linde by 14.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 777 shares of the basic materials company’s stock worth $325,000 after buying an additional 96 shares during the period. Bank Pictet & Cie Europe AG boosted its position in Linde by 2.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 68,460 shares of the basic materials company’s stock valued at $28,662,000 after acquiring an additional 1,876 shares in the last quarter. Allworth Financial LP boosted its position in Linde by 25.7% during the 4th quarter. Allworth Financial LP now owns 8,808 shares of the basic materials company’s stock valued at $3,899,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Linde in the 4th quarter valued at $28,000. Institutional investors own 82.80% of the company’s stock.

Insider Transactions at Linde

In related news, VP Sean Durbin sold 7,261 shares of Linde stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $456.42, for a total transaction of $3,314,065.62. Following the completion of the transaction, the vice president now directly owns 8,151 shares in the company, valued at approximately $3,720,279.42. This trade represents a 47.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David P. Strauss sold 1,987 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $457.04, for a total value of $908,138.48. Following the transaction, the vice president now owns 22,639 shares in the company, valued at $10,346,928.56. This represents a 8.07% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Linde Stock Performance

LIN opened at $460.90 on Wednesday. The company has a market cap of $216.95 billion, a P/E ratio of 33.47, a price-to-earnings-growth ratio of 3.29 and a beta of 0.97. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average price is $456.62 and its 200-day moving average price is $449.13. Linde PLC has a 52-week low of $408.65 and a 52-week high of $487.49.

Linde (NASDAQ:LIN) last released its earnings results on Thursday, May 1st. The basic materials company reported $3.95 earnings per share for the quarter, topping the consensus estimate of $3.92 by $0.03. The company had revenue of $8.11 billion for the quarter, compared to the consensus estimate of $8.24 billion. Linde had a net margin of 20.02% and a return on equity of 18.95%. Linde’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.75 EPS. As a group, equities analysts anticipate that Linde PLC will post 16.54 EPS for the current fiscal year.

Linde Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $6.00 annualized dividend and a yield of 1.30%. Linde’s dividend payout ratio (DPR) is presently 43.57%.

Wall Street Analyst Weigh In

LIN has been the topic of a number of recent research reports. Argus raised Linde to a “strong-buy” rating in a research report on Tuesday, April 8th. Sanford C. Bernstein raised shares of Linde to a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, Royal Bank Of Canada assumed coverage on shares of Linde in a research report on Friday, June 13th. They issued an “outperform” rating and a $576.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Linde currently has a consensus rating of “Moderate Buy” and a consensus price target of $510.40.

Linde Company Profile

Linde plc operates as an industrial gas company in the Americas, Europe, the Middle East, Africa, Asia, and South Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.