Mitchell Capital Management Co. Increases Stock Position in Linde PLC (NYSE:LIN)
Mitchell Capital Management Co. boosted its position in shares of Linde PLC (NYSE:LIN) by 34.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,141 shares of the basic materials company’s stock after acquiring an additional 543 shares during the period. Mitchell Capital Management Co.’s holdings in Linde were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of LIN. Mattern Wealth Management LLC increased its stake in shares of Linde by 3.1% in the first quarter. Mattern Wealth Management LLC now owns 4,867 shares of the basic materials company’s stock worth $842,000 after acquiring an additional 145 shares during the period. Public Sector Pension Investment Board grew its position in Linde by 4.3% during the first quarter. Public Sector Pension Investment Board now owns 175,696 shares of the basic materials company’s stock valued at $30,395,000 after buying an additional 7,300 shares during the period. Rothschild & Co. Asset Management US Inc. acquired a new stake in Linde during the first quarter valued at $15,709,000. Bridges Investment Management Inc. grew its position in Linde by 643.3% during the first quarter. Bridges Investment Management Inc. now owns 11,150 shares of the basic materials company’s stock valued at $1,929,000 after buying an additional 9,650 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in Linde during the first quarter valued at $2,472,000. 76.42% of the stock is owned by institutional investors.
LIN has been the topic of several analyst reports. Barclays dropped their price target on shares of Linde from $230.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 29th. Argus upgraded shares of Linde from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a research report on Tuesday, May 26th. Deutsche Bank raised their price target on shares of Linde from $225.00 to $275.00 in a research report on Friday. UBS Group lifted their target price on shares of Linde from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, HSBC lowered shares of Linde from a “buy” rating to a “hold” rating and set a $193.00 target price on the stock. in a research report on Tuesday, June 16th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $226.24.
Linde (NYSE:LIN) last issued its earnings results on Thursday, July 30th. The basic materials company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.25. Linde had a net margin of 8.37% and a return on equity of 8.27%. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.26 billion. On average, sell-side analysts predict that Linde PLC will post 7.7 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, September 3rd will be paid a $0.963 dividend. This represents a $3.85 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, September 2nd. Linde’s dividend payout ratio (DPR) is 52.45%.
Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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