Pinion Investment Advisors LLC Buys 159 Shares of Linde plc (NASDAQ:LIN)

Pinion Investment Advisors LLC grew its stake in shares of Linde plc (NASDAQ:LIN) by 30.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 677 shares of the basic materials company’s stock after buying an additional 159 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Linde were worth $297,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. J.W. Cole Advisors Inc. boosted its position in Linde by 38.1% during the second quarter. J.W. Cole Advisors Inc. now owns 4,322 shares of the basic materials company’s stock valued at $1,897,000 after buying an additional 1,193 shares during the period. Prosperity Consulting Group LLC boosted its holdings in Linde by 1.7% during the 2nd quarter. Prosperity Consulting Group LLC now owns 3,187 shares of the basic materials company’s stock valued at $1,398,000 after acquiring an additional 53 shares during the period. Envestnet Asset Management Inc. grew its position in Linde by 2.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 725,445 shares of the basic materials company’s stock worth $318,332,000 after acquiring an additional 20,060 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in Linde by 31.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 39,846 shares of the basic materials company’s stock worth $17,485,000 after purchasing an additional 9,614 shares during the period. Finally, Wrapmanager Inc. lifted its position in Linde by 15.1% in the second quarter. Wrapmanager Inc. now owns 1,534 shares of the basic materials company’s stock valued at $673,000 after purchasing an additional 201 shares during the last quarter. 82.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. BMO Capital Markets restated an “outperform” rating and issued a $477.00 target price on shares of Linde in a report on Friday, August 30th. UBS Group decreased their price objective on shares of Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. increased 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. Bank of America boosted their price target on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Citigroup increased their price objective on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Linde presently has an average rating of “Moderate Buy” and a consensus price target of $484.18.

Linde Price Performance

LIN opened at $468.81 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a market cap of $223.86 billion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 2.91 and a beta of 0.94. The stock has a fifty day simple moving average of $454.53 and a two-hundred day simple moving average of $448.68. Linde plc has a 12-month low of $361.02 and a 12-month high of $479.79.

Linde (NASDAQ:LIN) last issued its quarterly earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business earned $3.57 EPS. Linde’s quarterly revenue was up 1.2% compared to the same quarter last year. Research analysts predict that Linde plc will post 15.54 earnings per share for the current fiscal year.

Linde Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $1.39 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.56 annualized dividend and a dividend yield of 1.19%. Linde’s payout ratio is 43.13%.

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 transaction of $4,639,068.75. Following the completion of the transaction, the vice president now owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

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.