Corebridge Financial Inc. Has $66.65 Million Stock Holdings in Linde plc (NASDAQ:LIN)

Corebridge Financial Inc. decreased its position in Linde plc (NASDAQ:LIN) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,189 shares of the basic materials company’s stock after selling 4,678 shares during the period. Linde comprises approximately 0.4% of Corebridge Financial Inc.’s holdings, making the stock its 29th largest holding. Corebridge Financial Inc.’s holdings in Linde were worth $66,648,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LIN. Howard Capital Management Group LLC acquired a new stake in Linde during the third quarter valued at approximately $252,000. Meridian Wealth Management LLC lifted its position in shares of Linde by 9.5% during the 3rd quarter. Meridian Wealth Management LLC now owns 1,801 shares of the basic materials company’s stock worth $859,000 after buying an additional 156 shares during the period. Nwam LLC acquired a new stake in Linde in the 3rd quarter valued at $495,000. Cerity Partners LLC grew its position in Linde by 13.9% in the third quarter. Cerity Partners LLC now owns 152,770 shares of the basic materials company’s stock valued at $72,850,000 after acquiring an additional 18,698 shares during the period. Finally, Kingsview Wealth Management LLC raised its stake in Linde by 6.6% during the third quarter. Kingsview Wealth Management LLC now owns 5,229 shares of the basic materials company’s stock worth $2,493,000 after acquiring an additional 325 shares in the last quarter. Institutional investors own 82.80% of the company’s stock.

Insider Activity

In related news, VP Juergen Nowicki sold 6,782 shares of Linde stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $459.62, for a total value of $3,117,142.84. Following the sale, the vice president now owns 14,765 shares of the company’s stock, valued at approximately $6,786,289.30. The trade was a 31.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David P. Strauss sold 2,477 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $469.74, for a total transaction of $1,163,545.98. Following the sale, the vice president now directly owns 1,300 shares in the company, valued at $610,662. This trade represents a 65.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,159 shares of company stock valued at $5,603,843 in the last 90 days. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LIN shares. TD Cowen upgraded shares of Linde from a “hold” rating to a “buy” rating and boosted their target price for the company from $480.00 to $515.00 in a research note on Monday, January 13th. Citigroup cut their price target on shares of Linde from $490.00 to $480.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Linde currently has a consensus rating of “Moderate Buy” and a consensus target price of $501.82.

Linde Stock Up 0.1 %

Shares of NASDAQ:LIN opened at $458.33 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 0.39. The firm has a market cap of $216.75 billion, a P/E ratio of 33.68, a P/E/G ratio of 3.08 and a beta of 0.94. Linde plc has a 12 month low of $410.69 and a 12 month high of $487.49. The company’s 50-day moving average price is $452.96 and its two-hundred day moving average price is $454.23.

Linde (NASDAQ:LIN) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $3.97 earnings per share for the quarter, beating analysts’ consensus estimates of $3.93 by $0.04. Linde had a net margin of 19.89% and a return on equity of 18.71%. As a group, research analysts forecast that Linde plc will post 16.54 EPS for the current fiscal year.

Linde Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $1.50 per share. This is a boost from Linde’s previous quarterly dividend of $1.39. This represents a $6.00 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, March 13th. Linde’s payout ratio is currently 44.09%.

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.