Linde plc (NASDAQ:LIN) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lessened its holdings in shares of Linde plc (NASDAQ:LIN) by 3.2% during the third quarter, HoldingsChannel reports. The fund owned 73,161 shares of the basic materials company’s stock after selling 2,381 shares during the period. Linde comprises approximately 1.1% of Moran Wealth Management LLC’s investment portfolio, making the stock its 14th biggest holding. Moran Wealth Management LLC’s holdings in Linde were worth $34,888,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in Linde by 4.6% during the third quarter. EverSource Wealth Advisors LLC now owns 3,278 shares of the basic materials company’s stock worth $1,563,000 after acquiring an additional 144 shares during the period. Portfolio Design Labs LLC grew its holdings in Linde by 364.0% in the third quarter. Portfolio Design Labs LLC now owns 5,202 shares of the basic materials company’s stock valued at $2,481,000 after purchasing an additional 4,081 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Linde by 21.5% in the third quarter. Advisors Asset Management Inc. now owns 21,606 shares of the basic materials company’s stock valued at $10,303,000 after purchasing an additional 3,824 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Linde in the third quarter valued at $5,536,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in Linde in the third quarter valued at $22,915,000. Institutional investors and hedge funds own 82.80% of the company’s stock.

Linde Stock Down 0.2 %

NASDAQ LIN traded down $0.74 during mid-day trading on Wednesday, reaching $443.32. 180,032 shares of the company’s stock traded hands, compared to its average volume of 1,829,679. Linde plc has a 1-year low of $396.07 and a 1-year high of $487.49. The company has a fifty day simple moving average of $469.39 and a 200-day simple moving average of $453.14. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43. The company has a market cap of $211.09 billion, a price-to-earnings ratio of 33.72, a P/E/G ratio of 2.88 and a beta of 0.94.

Linde (NASDAQ:LIN) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.05. Linde had a return on equity of 18.16% and a net margin of 19.33%. The firm had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same quarter last year, the firm earned $3.63 EPS. Linde’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, equities research analysts expect that Linde plc will post 15.48 EPS for the current year.

Linde Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a $1.39 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $5.56 annualized dividend and a dividend yield of 1.25%. Linde’s payout ratio is 42.22%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LIN. Erste Group Bank reissued a “hold” rating on shares of Linde in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Mizuho increased their price objective on Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Barclays increased their price objective on Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Bank of America increased 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. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Linde currently has an average rating of “Moderate Buy” and an average price target of $490.75.

Insider Transactions at Linde

In related news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total value of $4,639,068.75. Following the sale, the vice president now owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. This trade represents a 36.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.60% 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.