Bingham Private Wealth LLC Boosts Holdings in Linde PLC (NASDAQ:LIN)

Bingham Private Wealth LLC increased its position in Linde PLC (NASDAQ:LIN) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 865 shares of the basic materials company’s stock after purchasing an additional 66 shares during the period. Bingham Private Wealth LLC’s holdings in Linde were worth $403,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of Linde by 34.4% in the 4th quarter. Capital World Investors now owns 11,547,765 shares of the basic materials company’s stock worth $4,834,631,000 after buying an additional 2,957,604 shares during the last quarter. Geode Capital Management LLC boosted its position in Linde by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 11,003,925 shares of the basic materials company’s stock worth $4,598,551,000 after purchasing an additional 30,750 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Linde by 6.4% during the 4th quarter. Capital Research Global Investors now owns 9,214,290 shares of the basic materials company’s stock valued at $3,857,741,000 after purchasing an additional 554,480 shares during the period. Norges Bank purchased a new stake in Linde during the fourth quarter valued at approximately $2,901,853,000. Finally, Freemont Capital Pte Ltd bought a new position in Linde in the 4th quarter worth $2,128,233,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Linde Price Performance

Linde stock opened at $465.01 on Friday. Linde PLC has a 52-week low of $408.65 and a 52-week high of $487.49. 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 fifty day moving average is $464.65 and its 200 day moving average is $454.32. The company has a market cap of $218.89 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.28 and a beta of 0.96.

Linde (NASDAQ:LIN) last released its quarterly earnings results 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 return on equity of 18.95% and a net margin of 20.02%. The company had revenue of $8.11 billion during the quarter, compared to analyst estimates of $8.24 billion. During the same quarter last year, the business posted $3.75 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Sell-side analysts forecast that Linde PLC will post 16.54 EPS for the current fiscal year.

Linde Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Wednesday, June 4th. Linde’s dividend payout ratio (DPR) is 43.57%.

Insiders Place Their Bets

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

Linde 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.