Cumberland Partners Ltd Has $35.54 Million Stock Position in Linde plc (NASDAQ:LIN)

Cumberland Partners Ltd reduced its holdings in Linde plc (NASDAQ:LIN) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 74,528 shares of the basic materials company’s stock after selling 188 shares during the quarter. Linde makes up about 2.5% of Cumberland Partners Ltd’s portfolio, making the stock its 13th largest holding. Cumberland Partners Ltd’s holdings in Linde were worth $35,539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. raised its stake in Linde by 4.2% during the first quarter. Avantax Advisory Services Inc. now owns 20,203 shares of the basic materials company’s stock worth $9,381,000 after buying an additional 820 shares during the last quarter. Entropy Technologies LP bought a new stake in Linde in the first quarter worth approximately $1,226,000. State Board of Administration of Florida Retirement System lifted its stake in Linde by 3.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 537,793 shares of the basic materials company’s stock valued at $249,708,000 after buying an additional 16,206 shares during the period. Interchange Capital Partners LLC boosted its holdings in shares of Linde by 8.4% during the 1st quarter. Interchange Capital Partners LLC now owns 544 shares of the basic materials company’s stock worth $253,000 after buying an additional 42 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its position in shares of Linde by 32.5% during the 1st quarter. Angeles Wealth Management LLC now owns 2,416 shares of the basic materials company’s stock worth $1,122,000 after buying an additional 593 shares during the period. 82.80% of the stock is currently owned by institutional investors and hedge funds.

Linde Stock Performance

Shares of LIN stock traded down $0.37 during trading on Tuesday, reaching $456.07. 150,589 shares of the company’s stock traded hands, compared to its average volume of 1,828,791. The firm’s 50-day moving average is $471.16 and its 200 day moving average is $452.49. The company has a market capitalization of $217.16 billion, a P/E ratio of 34.66, a PEG ratio of 2.94 and a beta of 0.94. Linde plc has a 1 year low of $395.00 and a 1 year high of $487.49. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.43.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $3.94 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.05. Linde had a return on equity of 18.16% and a net margin of 19.33%. The firm had revenue of $8.36 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same period last year, the company earned $3.63 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts expect that Linde plc will post 15.48 EPS for the current year.

Linde Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $1.39 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.22%. Linde’s dividend payout ratio (DPR) is currently 42.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, August 5th. BMO Capital Markets raised their price objective on shares of Linde from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Mizuho boosted their target price on shares of Linde from $520.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Bank of America lifted their price target on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, Barclays increased their price objective on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $490.75.

Insider Transactions at Linde

In related news, VP John Panikar sold 10,025 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total value of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

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.