BLB&B Advisors LLC Cuts Stake in Linde PLC (LIN)
BLB&B Advisors LLC decreased its holdings in Linde PLC (NYSE:LIN) by 2.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,857 shares of the basic materials company’s stock after selling 108 shares during the period. BLB&B Advisors LLC’s holdings in Linde were worth $679,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in LIN. Great West Life Assurance Co. Can purchased a new stake in Linde during the 4th quarter valued at $860,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Linde during the 4th quarter valued at $1,701,000. JOYN Advisors Inc. purchased a new stake in Linde during the 4th quarter valued at $99,000. Kentucky Retirement Systems purchased a new stake in Linde during the 4th quarter valued at $3,740,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Linde during the 4th quarter valued at $117,202,000. 73.06% of the stock is owned by institutional investors.
Shares of NYSE LIN opened at $180.40 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.33 and a quick ratio of 1.21. Linde PLC has a 12 month low of $145.95 and a 12 month high of $185.92. The firm has a market capitalization of $98.30 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 1.90 and a beta of 0.78.
In other Linde news, CEO Stephen F. Angel sold 54,994 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $184.46, for a total value of $10,144,193.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. White sold 7,749 shares of the company’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $164.99, for a total transaction of $1,278,507.51. The disclosure for this sale can be found here. Insiders sold a total of 73,675 shares of company stock valued at $13,419,200 over the last 90 days. Company insiders own 0.23% of the company’s stock.
LIN has been the subject of several analyst reports. ValuEngine cut shares of Linde from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Societe Generale initiated coverage on shares of Linde in a research report on Tuesday, January 8th. They set a “buy” rating and a $190.00 price target for the company. Citigroup initiated coverage on shares of Linde in a research report on Monday, January 7th. They set a “buy” rating for the company. SunTrust Banks initiated coverage on shares of Linde in a research report on Tuesday, January 15th. They set a “buy” rating and a $185.00 price target for the company. Finally, KeyCorp initiated coverage on shares of Linde in a research report on Monday, January 14th. They set an “overweight” rating and a $188.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. Linde presently has a consensus rating of “Hold” and an average target price of $188.18.
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Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. It also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, and hydrogen and synthesis gas plants.
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