DAVENPORT & Co LLC Sells 1,038 Shares of Linde PLC (LIN)

DAVENPORT & Co LLC reduced its stake in shares of Linde PLC (NYSE:LIN) by 17.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,948 shares of the basic materials company’s stock after selling 1,038 shares during the period. DAVENPORT & Co LLC’s holdings in Linde were worth $871,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in Linde in the first quarter worth about $30,000. Heritage Trust Co acquired a new stake in shares of Linde during the fourth quarter worth approximately $31,000. Sharkey Howes & Javer acquired a new stake in shares of Linde during the fourth quarter worth approximately $31,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Linde during the fourth quarter worth approximately $31,000. Finally, Kings Point Capital Management acquired a new stake in shares of Linde during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 74.01% of the company’s stock.

Shares of LIN stock opened at $173.35 on Friday. Linde PLC has a 52-week low of $145.95 and a 52-week high of $185.92. The company has a market capitalization of $96.33 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 1.98 and a beta of 0.77. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.875 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.50 dividend on an annualized basis and a yield of 2.02%.

Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Linde from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine lowered shares of Linde from a “buy” rating to a “hold” rating in a report on Monday, April 1st. SunTrust Banks raised their price objective on shares of Linde to $196.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. They noted that the move was a valuation call. KeyCorp increased their price target on shares of Linde from $188.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Finally, Argus assumed coverage on shares of Linde in a research note on Friday, March 22nd. They set a “hold” rating and a $175.10 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $188.18.

In other Linde news, CEO Stephen F. Angel sold 54,994 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $184.46, for a total value of $10,144,193.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matthew J. White sold 7,773 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $185.01, for a total transaction of $1,438,082.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,926 shares of company stock worth $12,140,692. Insiders own 0.23% of the company’s stock.

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Linde Company Profile

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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