Seeds Investor LLC has increased its stake in Linde PLC (NASDAQ:LIN) by an impressive 22.4% during the second quarter of 2023. This information comes from the firm’s latest Form 13F filing with the Securities and Exchange Commission. Following the purchase of an additional 312 shares, Seeds Investor LLC now holds a total of 1,707 shares of the industrial gas company, valued at approximately $801,000.
Several other institutional investors have also been active in the market for Linde shares. Bartlett & Co. Wealth Management LLC increased its stake by 1.3%, bringing its total to 249,742 shares, valued at $117.17 million. Markel Group Inc. raised its holdings by 3.1%, now owning 186,600 shares worth around $87.55 million after acquiring an additional 5,600 shares. Meanwhile, Destiny Wealth Partners LLC took a new position valued at approximately $465,000 during the same period.
In the first quarter, Meiji Yasuda Asset Management Co. Ltd. boosted its stake by 25.9%, now holding 23,558 shares valued at about $10.97 million. Ethos Financial Group LLC also entered the market with a new stake valued at approximately $345,000. Overall, institutional investors now own 82.80% of Linde’s stock.
Analyst Ratings and Market Performance
Linde has garnered attention from numerous equity analysts recently. Weiss Ratings reaffirmed a “buy (B)” rating on the stock, while Seaport Res Ptn upgraded it from “hold” to “strong buy” on November 3, 2023. Citigroup adjusted its price target from $535.00 to $520.00, maintaining a “buy” rating. Additionally, Sanford C. Bernstein reiterated an “outperform” rating with a price target of $516.00, while JPMorgan Chase & Co. lowered its price target from $475.00 to $455.00, designating an “overweight” rating.
Currently, Linde holds a consensus rating of “buy” with an average price target of $508.83, according to data from MarketBeat. This reflects strong market confidence in the company’s performance.
As of October 31, 2023, shares of Linde PLC were trading at $408.51, with a market capitalization of approximately $190.75 billion. The company exhibits a PE ratio of 29.05, a PEG ratio of 2.85, and a beta of 0.91. Linde’s stock has shown resilience, with a twelve-month low of $408.21 and a high of $486.38.
Recent Earnings and Dividend Declaration
Linde recently reported its quarterly earnings results, revealing an earnings per share (EPS) of $4.21, surpassing analysts’ expectations of $4.18 by $0.03. The company recorded revenue of $8.62 billion for the quarter, aligning with analyst estimates. Year-over-year comparisons show a 2.9% increase in quarterly revenue, up from $3.94 EPS during the same period last year.
Linde has also set its fiscal year 2025 guidance at an EPS range of 16.350-16.450, with guidance for the fourth quarter of 2025 at 4.100-4.200 EPS. Analysts estimate that Linde PLC will post an EPS of 16.54 for the current year.
Additionally, Linde has announced a quarterly dividend of $1.50 per share, scheduled for payment on December 17, 2023. Investors of record on December 3 will receive this dividend, which represents an annualized dividend of $6.00 and a yield of 1.5%. The company’s current dividend payout ratio stands at 40.19%.
Linde PLC operates globally as an industrial gas company, providing a wide range of atmospheric and process gases across various regions, including the Americas, Europe, the Middle East, Africa, Asia, and the South Pacific. The company’s diverse offerings include oxygen, nitrogen, argon, helium, and specialty gases.
For those interested in tracking Linde’s performance and the activities of institutional investors, detailed information can be found on platforms like HoldingsChannel.com.
