Clarendon Private LLC Raises Holdings in Linde PLC (NASDAQ:LIN)

Clarendon Private LLC raised its holdings in shares of Linde PLC (NASDAQ:LIN) by 13.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,251 shares of the basic materials company’s stock after acquiring an additional 262 shares during the quarter. Linde accounts for approximately 1.1% of Clarendon Private LLC’s investment portfolio, making the stock its 22nd biggest position. Clarendon Private LLC’s holdings in Linde were worth $1,048,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. North Capital Inc. purchased a new position in shares of Linde in the 1st quarter worth $25,000. Putney Financial Group LLC purchased a new position in shares of Linde in the 4th quarter worth $31,000. Dunhill Financial LLC purchased a new position in shares of Linde in the 4th quarter worth $34,000. New Age Alpha Advisors LLC boosted its stake in shares of Linde by 34.9% in the 4th quarter. New Age Alpha Advisors LLC now owns 85 shares of the basic materials company’s stock worth $36,000 after buying an additional 22 shares during the last quarter. Finally, Abound Financial LLC purchased a new position in shares of Linde in the 1st quarter worth $41,000. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Linde Price Performance

Shares of Linde stock opened at $467.46 on Tuesday. The stock’s 50-day simple moving average is $466.67 and its 200-day simple moving average is $456.90. Linde PLC has a 52 week low of $408.65 and a 52 week high of $487.49. The company has a market capitalization of $220.04 billion, a price-to-earnings ratio of 33.95, a PEG ratio of 3.34 and a beta of 0.96. The company has a quick ratio of 0.80, a current ratio of 0.94 and a debt-to-equity ratio of 0.45.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. UBS Group raised their price target on Linde from $485.00 to $504.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. Royal Bank Of Canada assumed coverage on Linde in a research report on Friday, June 13th. They set an “outperform” rating and a $576.00 target price on the stock. Argus upgraded Linde to a “strong-buy” rating in a research report on Tuesday, April 8th. Citigroup upgraded Linde from a “neutral” rating to a “buy” rating and lifted their target price for the company from $500.00 to $535.00 in a research report on Monday, June 30th. Finally, Sanford C. Bernstein upgraded Linde to a “strong-buy” rating in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $518.80.

About Linde

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.