Cornerstone Wealth Management LLC Has $3.62 Million Position in Linde plc (NASDAQ:LIN)

Cornerstone Wealth Management LLC raised its stake in Linde plc (NASDAQ:LIN) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,787 shares of the basic materials company’s stock after acquiring an additional 404 shares during the period. Cornerstone Wealth Management LLC’s holdings in Linde were worth $3,616,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Scarborough Advisors LLC acquired a new stake in shares of Linde in the 4th quarter valued at $30,000. Johnson Financial Group Inc. boosted its stake in shares of Linde by 44.4% during the fourth quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 24 shares in the last quarter. Addison Advisors LLC grew its holdings in shares of Linde by 310.0% during the fourth quarter. Addison Advisors LLC now owns 82 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 62 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Linde by 347.6% in the fourth quarter. Hexagon Capital Partners LLC now owns 94 shares of the basic materials company’s stock valued at $39,000 after buying an additional 73 shares during the period. Finally, OLD Point Trust & Financial Services N A bought a new position in Linde in the 4th quarter valued at approximately $39,000. 82.80% of the stock is currently owned by institutional investors.

Linde Stock Up 0.7 %

NASDAQ:LIN traded up $2.85 during trading hours on Thursday, reaching $432.94. The company had a trading volume of 865,090 shares, compared to its average volume of 1,724,658. Linde plc has a twelve month low of $358.37 and a twelve month high of $477.71. 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 firm has a market cap of $208.11 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 2.70 and a beta of 0.93. The business’s 50-day simple moving average is $435.05 and its two-hundred day simple moving average is $434.38.

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

Linde Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a $1.39 dividend. This represents a $5.56 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Tuesday, June 4th. Linde’s payout ratio is currently 43.13%.

Analysts Set New Price Targets

Several equities analysts have issued reports on LIN shares. UBS Group cut shares of Linde from a “buy” rating to a “neutral” rating and upped their price target for the company from $482.00 to $510.00 in a research report on Wednesday, March 27th. BMO Capital Markets cut their target price on Linde from $510.00 to $475.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. HSBC decreased their price target on Linde from $458.00 to $452.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Wells Fargo & Company lifted their price objective on Linde from $480.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Finally, Citigroup downgraded shares of Linde from a “buy” rating to a “neutral” rating and increased their target price for the company from $475.00 to $500.00 in a research report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $468.83.

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.