Quest Investment Management LLC Increases Stock Position in Linde plc (NASDAQ:LIN)

Quest Investment Management LLC raised its stake in shares of Linde plc (NASDAQ:LIN) by 2.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,396 shares of the basic materials company’s stock after purchasing an additional 89 shares during the period. Quest Investment Management LLC’s holdings in Linde were worth $1,490,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Linde by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,796,924 shares of the basic materials company’s stock valued at $4,434,406,000 after buying an additional 141,322 shares during the last quarter. Douglass Winthrop Advisors LLC raised its holdings in shares of Linde by 2.0% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 5,278 shares of the basic materials company’s stock worth $2,168,000 after acquiring an additional 104 shares in the last quarter. Portfolio Design Labs LLC purchased a new stake in shares of Linde during the 4th quarter worth approximately $1,897,000. Cloverfields Capital Group LP bought a new position in shares of Linde during the 4th quarter valued at approximately $718,000. Finally, National Bank of Canada FI grew its holdings in shares of Linde by 46.9% in the first quarter. National Bank of Canada FI now owns 48,211 shares of the basic materials company’s stock valued at $20,593,000 after purchasing an additional 15,393 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LIN shares. Citigroup increased their price objective on shares of Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Barclays increased their price target 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 boosted their price objective 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. upped their price objective on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, UBS Group dropped their target price on Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $484.18.

Insider Buying and Selling at Linde

In other news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the transaction, the vice president now owns 17,584 shares in the company, valued at $8,136,996. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

Linde Trading Up 0.6 %

NASDAQ LIN opened at $471.91 on Friday. The stock has a market cap of $226.84 billion, a PE ratio of 36.61, a PEG ratio of 2.97 and a beta of 0.94. Linde plc has a 12 month low of $361.02 and a 12 month high of $479.79. The company’s 50-day moving average price is $458.07 and its 200-day moving average price is $449.30. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Linde (NASDAQ:LIN) last issued its earnings results on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.06. Linde had a net margin of 19.49% and a return on equity of 17.92%. The business had revenue of $8.30 billion for the quarter, compared to the consensus estimate of $8.30 billion. During the same period in the prior year, the firm earned $3.57 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Linde plc will post 15.54 earnings per share for the current year.

Linde Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s dividend payout ratio (DPR) is presently 43.13%.

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.