Linde (LIN) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Linde (NYSE:LIN) from a sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Linde plc. is an industrial gas and engineering company. Linde plc., formerly known as Praxair Inc., is based in Guildford, UK. “

Other equities research analysts also recently issued research reports about the stock. Argus assumed coverage on shares of Linde in a research note on Friday, March 22nd. They issued a hold rating and a $175.10 target price on the stock. Barclays increased their target price on shares of Linde from $180.00 to $195.00 and gave the company an equal weight rating in a research note on Tuesday, May 14th. BMO Capital Markets raised shares of Linde from a market perform rating to an outperform rating and set a $210.00 target price on the stock in a research note on Monday, May 13th. Societe Generale reissued a buy rating on shares of Linde in a research note on Monday, April 15th. Finally, KeyCorp increased their target price 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $193.73.

Shares of LIN opened at $189.00 on Wednesday. Linde has a twelve month low of $145.95 and a twelve month high of $189.45. The firm has a market capitalization of $102.25 billion, a PE ratio of 29.37, a PEG ratio of 2.04 and a beta of 0.77. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22.

Linde (NYSE:LIN) last announced its earnings results on Friday, May 10th. The basic materials company reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.15. Linde had a net margin of 23.52% and a return on equity of 14.95%. The business had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $7.03 billion. On average, equities research analysts predict that Linde will post 6.91 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.875 dividend. This represents a $3.50 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, May 31st.

In related news, VP Christian Bruch purchased 1,474 shares of Linde stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average price of $179.21 per share, with a total value of $264,155.54. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas Enders purchased 6,600 shares of Linde stock in a transaction that occurred on Friday, March 22nd. The stock was bought at an average cost of $172.16 per share, for a total transaction of $1,136,256.00. The disclosure for this purchase can be found here. Insiders sold a total of 65,926 shares of company stock worth $12,140,692 in the last ninety days. 0.23% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Gateway Investment Advisers LLC bought a new position in Linde during the 4th quarter worth about $4,287,000. TRUE Private Wealth Advisors bought a new position in Linde during the 4th quarter worth about $211,000. Gofen & Glossberg LLC IL bought a new position in Linde during the 4th quarter worth about $3,851,000. First United Bank Trust bought a new position in Linde during the 4th quarter worth about $252,000. Finally, Coastline Trust Co bought a new position in Linde during the 4th quarter worth about $1,354,000. 74.12% of the stock is currently owned by institutional investors.

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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