Mediolanum International Funds Ltd Decreases Stake in Linde PLC $LIN

Mediolanum International Funds Ltd lowered its position in shares of Linde PLC (NASDAQ:LIN) by 13.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,042 shares of the basic materials company’s stock after selling 6,764 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Linde were worth $20,501,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Oakworth Capital Inc. increased its position in shares of Linde by 23.0% during the third quarter. Oakworth Capital Inc. now owns 684 shares of the basic materials company’s stock valued at $325,000 after acquiring an additional 128 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in Linde by 14.0% in the 3rd quarter. Transcend Capital Advisors LLC now owns 2,793 shares of the basic materials company’s stock valued at $1,327,000 after purchasing an additional 343 shares during the period. Lee Financial Co increased its position in shares of Linde by 3.2% during the 3rd quarter. Lee Financial Co now owns 2,976 shares of the basic materials company’s stock valued at $1,414,000 after purchasing an additional 93 shares during the last quarter. CWS Financial Advisors LLC raised its stake in shares of Linde by 13.3% during the 3rd quarter. CWS Financial Advisors LLC now owns 1,696 shares of the basic materials company’s stock worth $806,000 after purchasing an additional 199 shares during the period. Finally, Frank Rimerman Advisors LLC raised its stake in shares of Linde by 16.1% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 5,481 shares of the basic materials company’s stock worth $2,603,000 after purchasing an additional 759 shares during the period. 82.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on LIN shares. Weiss Ratings restated a “hold (c+)” rating on shares of Linde in a research report on Monday, December 29th. Sanford C. Bernstein reissued an “outperform” rating and set a $516.00 target price on shares of Linde in a research report on Monday, November 3rd. CICC Research started coverage on shares of Linde in a report on Wednesday, December 3rd. They issued an “outperform” rating and a $510.00 price target on the stock. Citigroup increased their price objective on Linde from $520.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada cut their price target on Linde from $540.00 to $490.00 and set an “outperform” rating for the company in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $501.75.

Linde Trading Up 0.4%

Linde stock opened at $456.97 on Friday. The firm’s fifty day moving average price is $425.82 and its 200-day moving average price is $447.82. Linde PLC has a fifty-two week low of $387.78 and a fifty-two week high of $486.38. The stock has a market cap of $213.38 billion, a P/E ratio of 30.61, a PEG ratio of 3.19 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.69 and a current ratio of 0.82.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Friday, October 31st. The basic materials company reported $4.21 EPS for the quarter, topping the consensus estimate of $4.18 by $0.03. The company had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.62 billion. Linde had a return on equity of 19.38% and a net margin of 21.17%.Linde’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.94 earnings per share. Equities research analysts forecast that Linde PLC will post 16.54 earnings per share for the current fiscal year.

About Linde

Linde (NASDAQ: LIN) is a multinational industrial gases and engineering company that supplies gases, related technologies and services to a wide range of industries. The company traces its current form to the 2018 combination of Germany’s Linde AG and U.S.-based Praxair, creating one of the largest global providers of industrial, specialty and medical gases. Linde’s business model centers on production, processing and distribution of gases as well as the design and construction of the plants and equipment needed to produce them.

Core products and services include atmospheric and process gases such as oxygen, nitrogen and argon; hydrogen and helium; carbon dioxide; and a portfolio of higher‑value specialty and electronic gases.