Concord Asset Management LLC VA Purchases 510 Shares of Linde plc (NASDAQ:LIN)

Concord Asset Management LLC VA raised its position in Linde plc (NASDAQ:LIN) by 12.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,751 shares of the basic materials company’s stock after acquiring an additional 510 shares during the period. Concord Asset Management LLC VA’s holdings in Linde were worth $2,266,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in shares of Linde during the 2nd quarter valued at $28,000. Strategic Financial Concepts LLC purchased a new stake in Linde in the second quarter valued at about $33,000. Kozak & Associates Inc. acquired a new stake in Linde in the third quarter worth about $34,000. J.Safra Asset Management Corp purchased a new stake in shares of Linde during the second quarter worth about $42,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Linde during the third quarter valued at about $43,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other Linde news, VP John Panikar sold 10,025 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. This trade represents a 36.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.60% of the company’s stock.

Linde Price Performance

NASDAQ:LIN opened at $449.10 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.81. The company has a 50 day moving average price of $470.08 and a 200-day moving average price of $452.72. Linde plc has a 1-year low of $396.07 and a 1-year high of $487.49. The firm has a market cap of $213.84 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 2.88 and a beta of 0.94.

Linde (NASDAQ:LIN) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $3.94 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.05. Linde had a net margin of 19.33% and a return on equity of 18.16%. The company had revenue of $8.36 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the previous year, the company earned $3.63 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts forecast that Linde plc will post 15.48 EPS for the current year.

Linde Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be issued a $1.39 dividend. This represents a $5.56 annualized dividend and a yield of 1.24%. The ex-dividend date is Tuesday, December 3rd. Linde’s payout ratio is currently 42.22%.

About Linde

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.