Checchi Capital Advisers LLC bought a new position in Linde PLC (NYSE:LIN) during the first quarter, HoldingsChannel reports. The fund bought 2,642 shares of the basic materials company’s stock, valued at approximately $465,000.
A number of other hedge funds also recently modified their holdings of the business. Great West Life Assurance Co. Can purchased a new stake in Linde during the fourth quarter valued at approximately $860,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Linde during the 4th quarter valued at approximately $1,701,000. JOYN Advisors Inc. acquired a new position in Linde during the 4th quarter valued at approximately $99,000. Kentucky Retirement Systems acquired a new position in Linde during the 4th quarter valued at approximately $3,740,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Linde during the 4th quarter valued at approximately $117,202,000. Institutional investors and hedge funds own 70.81% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Linde from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. DZ Bank upgraded shares of Linde to a “buy” rating in a research note on Friday, May 17th. ValuEngine lowered shares of Linde from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. SunTrust Banks upped their price target on shares of Linde to $196.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. They noted that the move was a valuation call. Finally, Barclays upped their price target 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Linde has a consensus rating of “Buy” and a consensus target price of $193.73.
Linde (NYSE:LIN) last released its quarterly earnings data on Friday, May 10th. The basic materials company reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.15. The firm had revenue of $6.94 billion for the quarter, compared to analyst estimates of $7.03 billion. Linde had a net margin of 23.52% and a return on equity of 14.95%. Research analysts predict that Linde PLC will post 6.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.875 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.50 annualized dividend and a yield of 1.89%.
In related news, insider Anne K. Roby sold 3,159 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.77, for a total transaction of $558,416.43. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas Enders purchased 6,600 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were purchased at an average price of $172.16 per share, for a total transaction of $1,136,256.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 84,982 shares of company stock worth $15,727,603. 0.23% of the stock is owned by company insiders.
Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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