Concord Wealth Partners Raises Position in Linde plc (NASDAQ:LIN)

Concord Wealth Partners increased its position in shares of Linde plc (NASDAQ:LIN) by 4.3% in the 4th quarter, HoldingsChannel reports. The firm owned 4,725 shares of the basic materials company’s stock after purchasing an additional 196 shares during the period. Concord Wealth Partners’ holdings in Linde were worth $1,978,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Channel Wealth LLC increased its holdings in shares of Linde by 30.4% in the 4th quarter. Channel Wealth LLC now owns 7,385 shares of the basic materials company’s stock valued at $3,092,000 after purchasing an additional 1,723 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Linde by 2.2% during the 4th quarter. Nordea Investment Management AB now owns 2,145,643 shares of the basic materials company’s stock valued at $898,188,000 after acquiring an additional 46,843 shares during the period. M&T Bank Corp boosted its stake in shares of Linde by 6.7% during the 3rd quarter. M&T Bank Corp now owns 79,472 shares of the basic materials company’s stock worth $37,898,000 after acquiring an additional 5,021 shares in the last quarter. Townsquare Capital LLC grew its holdings in shares of Linde by 16.8% in the 3rd quarter. Townsquare Capital LLC now owns 9,604 shares of the basic materials company’s stock worth $4,580,000 after acquiring an additional 1,383 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Linde by 4.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,975 shares of the basic materials company’s stock valued at $26,215,000 after purchasing an additional 2,312 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Insider Activity

In related news, VP David P. Strauss sold 2,218 shares of Linde stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $434.35, for a total transaction of $963,388.30. Following the sale, the vice president now directly owns 25,926 shares in the company, valued at $11,260,958.10. The trade was a 7.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Guillermo Bichara sold 4,385 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $460.73, for a total transaction of $2,020,301.05. Following the completion of the transaction, the vice president now owns 22,776 shares of the company’s stock, valued at $10,493,586.48. This represents a 16.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LIN. TD Cowen raised Linde from a “hold” rating to a “buy” rating and upped their target price for the company from $480.00 to $515.00 in a report on Monday, January 13th. Erste Group Bank reaffirmed a “hold” rating on shares of Linde in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Linde from $510.00 to $515.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets raised their price target on shares of Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Mizuho boosted their price objective on shares of Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $501.82.

Linde Stock Down 0.1 %

NASDAQ:LIN opened at $446.12 on Friday. The stock has a 50-day simple moving average of $434.54 and a 200 day simple moving average of $453.23. Linde plc has a one year low of $396.07 and a one year high of $487.49. The company has a market capitalization of $212.42 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 2.72 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.05. The business had revenue of $8.36 billion for the quarter, compared to analyst estimates of $8.39 billion. Linde had a return on equity of 18.16% and a net margin of 19.33%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.63 EPS. Sell-side analysts predict that Linde plc will post 15.45 EPS for the current fiscal year.

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.