Cumberland Partners Ltd Sells 188 Shares of Linde plc (NASDAQ:LIN)

Cumberland Partners Ltd lowered its stake in Linde plc (NASDAQ:LIN) by 0.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 74,528 shares of the basic materials company’s stock after selling 188 shares during the period. Linde makes up approximately 2.5% of Cumberland Partners Ltd’s portfolio, making the stock its 13th biggest holding. Cumberland Partners Ltd’s holdings in Linde were worth $35,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Avantax Advisory Services Inc. grew its stake in shares of Linde by 4.2% in the first quarter. Avantax Advisory Services Inc. now owns 20,203 shares of the basic materials company’s stock worth $9,381,000 after purchasing an additional 820 shares during the last quarter. Entropy Technologies LP purchased a new stake in Linde in the 1st quarter worth approximately $1,226,000. State Board of Administration of Florida Retirement System grew its position in shares of Linde by 3.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 537,793 shares of the basic materials company’s stock worth $249,708,000 after buying an additional 16,206 shares during the last quarter. Interchange Capital Partners LLC increased its stake in shares of Linde by 8.4% during the first quarter. Interchange Capital Partners LLC now owns 544 shares of the basic materials company’s stock valued at $253,000 after buying an additional 42 shares during the period. Finally, Angeles Wealth Management LLC raised its holdings in shares of Linde by 32.5% during the first quarter. Angeles Wealth Management LLC now owns 2,416 shares of the basic materials company’s stock valued at $1,122,000 after acquiring an additional 593 shares in the last quarter. Institutional investors own 82.80% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Bank of America lifted their price target on shares of Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays boosted their price target on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Mizuho upped their target price on Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their target price on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $490.75.

Linde Stock Down 0.1 %

Linde stock traded down $0.37 during mid-day trading on Tuesday, reaching $456.07. The stock had a trading volume of 150,589 shares, compared to its average volume of 1,828,791. Linde plc has a one year low of $395.00 and a one year high of $487.49. The company has a 50-day moving average price of $471.16 and a two-hundred day moving average price of $452.49. The company has a market capitalization of $217.16 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 2.94 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.81.

Linde (NASDAQ:LIN) last issued its earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.05. Linde had a net margin of 19.33% and a return on equity of 18.16%. The firm had revenue of $8.36 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the prior year, the firm posted $3.63 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. On average, analysts expect that Linde plc will post 15.48 EPS for the current fiscal year.

Linde Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $1.39 per share. The ex-dividend date is Tuesday, December 3rd. This represents a $5.56 annualized dividend and a yield of 1.22%. Linde’s dividend payout ratio is 42.22%.

Insiders Place Their Bets

In other Linde news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% 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.