Bank of The West Cuts Stake in Linde PLC (NYSE:LIN)

Bank of The West trimmed its position in Linde PLC (NYSE:LIN) by 56.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,246 shares of the basic materials company’s stock after selling 1,634 shares during the quarter. Bank of The West’s holdings in Linde were worth $219,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. We Are One Seven LLC purchased a new stake in Linde during the 1st quarter valued at approximately $275,000. First American Trust FSB grew its holdings in Linde by 3.8% during the 1st quarter. First American Trust FSB now owns 19,741 shares of the basic materials company’s stock valued at $3,473,000 after buying an additional 729 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Linde by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 82,673 shares of the basic materials company’s stock valued at $14,541,000 after buying an additional 2,278 shares in the last quarter. Somerset Trust Co grew its holdings in Linde by 1.6% during the 1st quarter. Somerset Trust Co now owns 9,862 shares of the basic materials company’s stock valued at $1,735,000 after buying an additional 159 shares in the last quarter. Finally, Joel Isaacson & Co. LLC purchased a new stake in Linde during the 1st quarter valued at approximately $212,000. 73.87% of the stock is owned by institutional investors.

A number of brokerages have issued reports on LIN. Societe Generale reaffirmed a “buy” rating on shares of Linde in a report on Monday, April 15th. Argus began coverage on shares of Linde in a report on Friday, March 22nd. They set a “hold” rating and a $175.10 price objective for the company. KeyCorp increased their price objective on shares of Linde from $188.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. SunTrust Banks increased their price objective on shares of Linde to $196.00 and gave the company a “buy” rating in a report on Thursday, April 4th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Linde from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Linde currently has an average rating of “Hold” and an average target price of $188.18.

In related news, CFO Matthew J. White sold 7,773 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $185.01, for a total value of $1,438,082.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen F. Angel sold 54,994 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $184.46, for a total value of $10,144,193.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,926 shares of company stock valued at $12,140,692. 0.23% of the stock is currently owned by insiders.

Shares of LIN stock traded up $0.47 on Friday, reaching $180.96. The company’s stock had a trading volume of 1,248,855 shares, compared to its average volume of 1,671,089. Linde PLC has a 1 year low of $145.95 and a 1 year high of $185.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.33. The firm has a market cap of $98.61 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 1.97 and a beta of 0.77.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.875 dividend. This represents a $3.50 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, May 31st. Linde’s dividend payout ratio (DPR) is presently 28.21%.

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About Linde

Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. It also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, and hydrogen and synthesis gas plants.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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