AdvisorNet Financial Inc Sells 74 Shares of Linde plc (NASDAQ:LIN)

AdvisorNet Financial Inc cut its stake in Linde plc (NASDAQ:LIN) by 1.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,701 shares of the basic materials company’s stock after selling 74 shares during the quarter. AdvisorNet Financial Inc’s holdings in Linde were worth $3,111,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in shares of Linde during the 1st quarter worth approximately $143,000. True North Advisors LLC purchased a new stake in shares of Linde in the 1st quarter worth about $224,000. City Holding Co. grew its position in shares of Linde by 16.2% in the 1st quarter. City Holding Co. now owns 7,599 shares of the basic materials company’s stock worth $3,528,000 after buying an additional 1,062 shares during the period. Ballentine Partners LLC increased its stake in shares of Linde by 3.2% in the 1st quarter. Ballentine Partners LLC now owns 5,648 shares of the basic materials company’s stock worth $2,622,000 after acquiring an additional 177 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Linde during the 1st quarter valued at about $219,000. Institutional investors own 82.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LIN. Citigroup cut shares of Linde from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $475.00 to $500.00 in a report on Wednesday, April 10th. UBS Group lowered Linde from a “buy” rating to a “neutral” rating and raised their price objective for the company from $482.00 to $510.00 in a research report on Wednesday, March 27th. Wolfe Research started coverage on Linde in a report on Friday, March 1st. They issued a “peer perform” rating on the stock. Wells Fargo & Company raised their price target on Linde from $480.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, HSBC dropped their price target on shares of Linde from $458.00 to $452.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $468.83.

Linde Stock Performance

Shares of Linde stock traded down $0.31 during trading hours on Monday, reaching $442.44. 567,101 shares of the stock traded hands, compared to its average volume of 2,071,440. Linde plc has a one year low of $358.37 and a one year high of $477.71. The firm has a market capitalization of $212.67 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 2.78 and a beta of 0.95. The company has a quick ratio of 0.76, a current ratio of 0.91 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $436.28 and a 200 day moving average price of $432.97.

Linde (NASDAQ:LIN) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $3.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.07. The company had revenue of $8.10 billion during the quarter, compared to analyst estimates of $8.38 billion. Linde had a net margin of 19.26% and a return on equity of 17.49%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.42 earnings per share. On average, equities research analysts expect that Linde plc will post 15.51 earnings per share for the current fiscal year.

Linde Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Tuesday, June 4th. Linde’s payout ratio is currently 43.13%.

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.