Linde plc (NASDAQ:LIN) Shares Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its position in Linde plc (NASDAQ:LIN) by 3.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 36,407 shares of the basic materials company’s stock after buying an additional 1,090 shares during the quarter. Linde makes up about 0.7% of Pallas Capital Advisors LLC’s portfolio, making the stock its 24th largest holding. Pallas Capital Advisors LLC’s holdings in Linde were worth $16,953,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. raised its holdings in Linde by 1,160.0% in the 4th quarter. Rakuten Securities Inc. now owns 63 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 58 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Linde in the fourth quarter valued at approximately $28,000. Putney Financial Group LLC acquired a new stake in shares of Linde in the fourth quarter valued at approximately $31,000. Dunhill Financial LLC purchased a new position in Linde during the fourth quarter worth approximately $34,000. Finally, New Age Alpha Advisors LLC grew its holdings in Linde by 34.9% in the 4th quarter. New Age Alpha Advisors LLC now owns 85 shares of the basic materials company’s stock valued at $36,000 after buying an additional 22 shares in the last quarter. 82.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP David P. Strauss sold 1,987 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $457.04, for a total transaction of $908,138.48. Following the sale, the vice president now directly owns 22,639 shares of the company’s stock, valued at $10,346,928.56. This represents a 8.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sean Durbin sold 7,261 shares of the 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 sale, the vice president now 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 disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Linde Trading Up 0.5%

Shares of LIN stock opened at $472.71 on Monday. Linde plc has a 1-year low of $408.65 and a 1-year high of $487.49. The firm has a market cap of $222.52 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 3.08 and a beta of 0.97. The company has a 50-day moving average of $452.49 and a two-hundred day moving average of $448.51. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.89 and a quick ratio of 0.76.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $3.95 EPS for the quarter, topping the consensus estimate of $3.92 by $0.03. Linde had a net margin of 19.89% and a return on equity of 18.71%. The firm had revenue of $8.11 billion for the quarter, compared to analyst estimates of $8.24 billion. During the same period in the prior year, the business posted $3.75 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts predict that Linde plc will post 16.54 EPS for the current year.

Linde Dividend Announcement

The company also recently disclosed 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 is Wednesday, June 4th. This represents a $6.00 annualized dividend and a dividend yield of 1.27%. Linde’s dividend payout ratio is presently 43.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Argus upgraded Linde to a “strong-buy” rating in a report on Tuesday, April 8th. Sanford C. Bernstein raised shares of Linde to a “strong-buy” rating in a research note on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $503.11.

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.