Princeton Capital Management LLC Lowers Position in Linde plc (NASDAQ:LIN)

Princeton Capital Management LLC reduced its position in shares of Linde plc (NASDAQ:LIN) by 65.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,890 shares of the basic materials company’s stock after selling 3,608 shares during the period. Princeton Capital Management LLC’s holdings in Linde were worth $901,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Seven Eight Capital LP acquired a new stake in Linde in the first quarter valued at $550,000. Atlanta Consulting Group Advisors LLC purchased a new position in shares of Linde in the 1st quarter valued at about $215,000. National Bank of Canada FI increased its holdings in shares of Linde by 46.9% in the 1st quarter. National Bank of Canada FI now owns 48,211 shares of the basic materials company’s stock valued at $20,593,000 after purchasing an additional 15,393 shares in the last quarter. Pitcairn Co. lifted its stake in shares of Linde by 20.6% in the first quarter. Pitcairn Co. now owns 3,494 shares of the basic materials company’s stock valued at $1,622,000 after purchasing an additional 598 shares during the period. Finally, InterOcean Capital Group LLC boosted its holdings in Linde by 12.5% during the first quarter. InterOcean Capital Group LLC now owns 730 shares of the basic materials company’s stock worth $339,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Linde Stock Down 0.1 %

LIN opened at $448.57 on Tuesday. Linde plc has a 12 month low of $396.07 and a 12 month high of $487.49. The business has a 50-day moving average of $469.79 and a two-hundred day moving average of $453.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.81. The stock has a market capitalization of $213.59 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 2.88 and a beta of 0.94.

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

Linde Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a dividend of $1.39 per share. This represents a $5.56 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Tuesday, December 3rd. Linde’s dividend payout ratio (DPR) is presently 42.22%.

Insider Activity at Linde

In related news, VP John Panikar sold 10,025 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the completion of the sale, the vice president now directly owns 17,584 shares of the company’s stock, valued at approximately $8,136,996. This represents a 36.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LIN has been the topic of several research analyst reports. Bank of America boosted their price target on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their target price on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Barclays lifted their price target on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Mizuho increased their price objective on shares of Linde from $520.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Linde from $510.00 to $515.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $490.75.

Linde Company Profile

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.