B. Riley Wealth Advisors Inc. Reduces Stock Position in Linde plc (NASDAQ:LIN)

B. Riley Wealth Advisors Inc. decreased its position in Linde plc (NASDAQ:LIN) by 9.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,437 shares of the basic materials company’s stock after selling 1,000 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Linde were worth $4,141,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC grew its position in shares of Linde by 5.1% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,244 shares of the basic materials company’s stock valued at $1,332,000 after purchasing an additional 156 shares during the period. Jones Financial Companies Lllp boosted its stake in Linde by 1.8% in the 4th quarter. Jones Financial Companies Lllp now owns 30,847 shares of the basic materials company’s stock worth $12,669,000 after buying an additional 556 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in Linde in the 4th quarter valued at about $442,000. Rafferty Asset Management LLC increased its stake in shares of Linde by 1.7% during the 4th quarter. Rafferty Asset Management LLC now owns 40,877 shares of the basic materials company’s stock valued at $16,789,000 after acquiring an additional 689 shares during the last quarter. Finally, Belpointe Asset Management LLC lifted its holdings in shares of Linde by 17.1% during the 4th quarter. Belpointe Asset Management LLC now owns 2,423 shares of the basic materials company’s stock worth $995,000 after acquiring an additional 354 shares during the period. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Linde Price Performance

Shares of NASDAQ LIN opened at $476.86 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. Linde plc has a fifty-two week low of $361.02 and a fifty-two week high of $483.36. The business has a 50 day moving average price of $462.10 and a two-hundred day moving average price of $449.58. The firm has a market cap of $229.22 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94.

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

Linde Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $1.39 dividend. This represents a $5.56 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s dividend payout ratio is currently 43.13%.

Insider Buying and Selling at Linde

In other news, VP John Panikar sold 10,025 shares of Linde stock in a transaction that occurred on 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 in the company, valued at approximately $8,136,996. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LIN shares. Barclays boosted their target price on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. UBS Group cut their target price on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. BMO Capital Markets reissued an “outperform” rating and set a $477.00 price target on shares of Linde in a research report on Friday, August 30th. Finally, Bank of America raised their price objective on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Linde presently has an average rating of “Moderate Buy” and a consensus price target of $484.18.

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.