Bridges Investment Management Inc. increases holdings in Linde plc (NASDAQ:LIN)

VaselineSeptember 20, 2024

0 4 minutes read

Bridges Investment Management Inc. grew its holdings in shares of Linde plc (NASDAQ:LIN – Free Report) by 428.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,097 shares of the basic materials company’s stock after purchasing an additional 43,055 shares during the period. Holdings of Bridges Investment Management Inc. in Linde were worth $23,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Linde by 0.9% in the first quarter. Vanguard Group Inc. now owns 44,676,156 shares of the basic materials company’s stock worth $20,744,033,000 after buying an additional 405,952 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Linde by 1.3% in the 4th 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 in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Linde by 3.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,959,993 shares of the materials company’s stock. basis valued at $1,624,462,000 after buying an additional 138,585 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Linde by 7.6% in the second quarter. Canada Pension Plan Investment Board now owns 3,112,160 shares of the basic materials company’s stock valued at $1,365,647,000 after purchasing an additional 218,746 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Linde by 1.2% in the first quarter. Janus Henderson Group PLC now owns 1,953,147 shares of the basic materials company’s stock valued at $906,730,000 after buying an additional 23,155 shares in the last quarter. 82.80% of the shares are owned by hedge funds and other institutional investors.

The Wall Street analyst weighs in

Several analysts recently weighed in on LIN shares. Citigroup upped their target price on Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Barclays upped their target price on Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Bank of America increased their target price on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. UBS Group cut their price target on Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $484.18.

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Read our latest report on Linde

Linde stock up 0.5%

LIN opened at $469.17 on Friday. The company has a 50 day moving average price of $457.45 and a two hundred day moving average price of $449.27. The company has a quick ratio of 0.80, a current ratio of 0.95, and a debt-to-equity ratio of 0.43. The company has a market cap of $225.52 billion, a PE ratio of 36.40, a P/E/G ratio of 2.93 and a beta of 0.94. Linde plc has a 52-week low of $361.02 and a 52-week high of $479.79.

Linde (NASDAQ:LIN – Get Your Free Report ) last released its earnings results on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.06. Linde had a return on equity of 17.92% and a net margin of 19.49%. The company had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.30 billion. In the same quarter last year, the firm posted EPS of $3.57. The company’s quarterly revenue was up 1.2% year over year. As a group, research analysts anticipate that Linde plc will post 15.54 EPS for the current year.

Linde announces dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.39 per share. This represents an annualized dividend of $5.56 and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s payout ratio is 43.13%.

Insiders place their bets

In other Linde news, VP John Panikar sold 10,025 shares of the company’s stock in a transaction that occurred 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 approximately $8,136,996. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. 0.70% of shares are currently owned by insiders.

About Linde

(Free report)

Linde plc operates as an industrial gases company in the Americas, Europe, the Middle East, Africa, Asia and the South Pacific. Provides atmospheric gases including oxygen, nitrogen, argon and rare gases; and process gases such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.