Envestnet Portfolio Solutions Inc. Sells 2,271 Shares of Linde plc (NASDAQ:LIN)

Envestnet Portfolio Solutions Inc. reduced its stake in Linde plc (NASDAQ:LIN) by 6.0% during the 2nd quarter, Holdings Channel reports. The firm owned 35,567 shares of the basic materials company’s stock after selling 2,271 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Linde were worth $15,607,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LIN. Retirement Group LLC acquired a new position in Linde in the 1st quarter worth $25,000. First Pacific Financial bought a new position in Linde during the first quarter worth $30,000. Scarborough Advisors LLC bought a new position in shares of Linde in the fourth quarter valued at about $30,000. Valued Wealth Advisors LLC lifted its stake in shares of Linde by 49.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock worth $34,000 after buying an additional 24 shares during the last quarter. Finally, Johnson Financial Group Inc. boosted its holdings in shares of Linde by 44.4% during the 4th quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock worth $32,000 after buying an additional 24 shares during the period. Institutional investors own 82.80% of the company’s stock.

Wall Street Analysts Forecast Growth

LIN has been the subject of a number of research analyst reports. Barclays boosted their price objective on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Bank of America raised their price objective on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Citigroup boosted their price target on shares of Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. upped their target price on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, UBS Group decreased their price objective on Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Linde has a consensus rating of “Moderate Buy” and a consensus price target of $484.18.

Linde Stock Performance

Shares of Linde stock traded up $5.02 during trading hours on Thursday, reaching $456.20. The company had a trading volume of 280,734 shares, compared to its average volume of 1,946,027. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. Linde plc has a one year low of $361.02 and a one year high of $477.71. The firm has a market cap of $217.84 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.80 and a beta of 0.94. The business has a fifty day simple moving average of $441.65 and a 200 day simple moving average of $442.02.

Linde (NASDAQ:LIN) last issued its earnings results on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, topping the consensus estimate of $3.79 by $0.06. Linde had a return on equity of 17.92% and a net margin of 19.49%. The business had revenue of $8.30 billion during the quarter, compared to the consensus estimate of $8.30 billion. During the same quarter last year, the company earned $3.57 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Linde plc will post 15.54 earnings per share for the current fiscal year.

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, September 4th. Linde’s dividend payout ratio (DPR) is presently 43.13%.

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.