Tributary Capital Management LLC Cuts Stake in Linde plc (NASDAQ:LIN)

Tributary Capital Management LLC lowered its stake in shares of Linde plc (NASDAQ:LIN) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,470 shares of the basic materials company’s stock after selling 50 shares during the period. Tributary Capital Management LLC’s holdings in Linde were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. J.W. Cole Advisors Inc. increased its stake in Linde by 22.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 1,262 shares of the basic materials company’s stock worth $518,000 after acquiring an additional 235 shares during the last quarter. CWM LLC increased its position in Linde by 6.2% in the fourth quarter. CWM LLC now owns 9,015 shares of the basic materials company’s stock worth $3,703,000 after purchasing an additional 526 shares during the last quarter. OLD National Bancorp IN raised its stake in Linde by 1.9% during the fourth quarter. OLD National Bancorp IN now owns 3,536 shares of the basic materials company’s stock valued at $1,452,000 after purchasing an additional 65 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in Linde by 43.3% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 983 shares of the basic materials company’s stock valued at $404,000 after purchasing an additional 297 shares during the last quarter. Finally, Wynn Capital LLC purchased a new position in shares of Linde in the 4th quarter worth approximately $337,000. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LIN shares. HSBC dropped their price objective on shares of Linde from $458.00 to $452.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Bank of America increased their price objective on shares of Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. UBS Group decreased their target price on shares of Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their price target on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Barclays raised their price objective on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. 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 data from MarketBeat, Linde currently has an average rating of “Moderate Buy” and a consensus target price of $484.18.

Linde Stock Performance

Shares of LIN stock traded up $4.03 during mid-day trading on Friday, reaching $465.74. The stock had a trading volume of 1,307,962 shares, compared to its average volume of 1,919,406. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Linde plc has a 1-year low of $361.02 and a 1-year high of $477.71. The firm has a market cap of $222.39 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 2.86 and a beta of 0.94. The business’s fifty day moving average is $445.11 and its 200-day moving average is $444.40.

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

Linde Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a yield of 1.19%. The ex-dividend date is Wednesday, September 4th. Linde’s dividend 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.