Tower Bridge Advisors Trims Stake in Linde PLC (NYSE:LIN)

Tower Bridge Advisors decreased its holdings in shares of Linde PLC (NYSE:LIN) by 45.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,885 shares of the basic materials company’s stock after selling 6,594 shares during the quarter. Tower Bridge Advisors’ holdings in Linde were worth $1,387,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LIN. BlackRock Inc. acquired a new stake in Linde during the fourth quarter worth $4,827,463,000. Norges Bank acquired a new stake in Linde during the fourth quarter worth $2,624,717,000. Massachusetts Financial Services Co. MA acquired a new stake in Linde during the fourth quarter worth $2,336,558,000. Bank of New York Mellon Corp acquired a new stake in Linde during the fourth quarter worth $1,604,835,000. Finally, Oregon Public Employees Retirement Fund acquired a new stake in Linde during the fourth quarter worth $60,000. 70.81% of the stock is owned by institutional investors.

In related news, Director Thomas Enders bought 6,600 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was purchased at an average cost of $172.16 per share, with a total value of $1,136,256.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Eduardo F. Menezes sold 19,056 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $188.23, for a total value of $3,586,910.88. The disclosure for this sale can be found here. Insiders have sold a total of 84,982 shares of company stock valued at $15,727,603 over the last three months. 0.23% of the stock is currently owned by insiders.

Several equities research analysts have issued reports on LIN shares. ValuEngine cut Linde from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Argus started coverage on Linde in a research note on Friday, March 22nd. They set a “hold” rating and a $175.10 target price for the company. KeyCorp raised their target price on Linde from $188.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. SunTrust Banks lifted their price objective on Linde to $196.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. They noted that the move was a valuation call. Finally, Societe Generale reaffirmed a “buy” rating on shares of Linde in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Linde has a consensus rating of “Buy” and a consensus target price of $193.73.

Shares of NYSE LIN traded up $2.78 during trading on Friday, reaching $187.86. The stock had a trading volume of 1,005,445 shares, compared to its average volume of 1,671,816. Linde PLC has a fifty-two week low of $145.95 and a fifty-two week high of $189.72. The company has a current ratio of 1.35, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $102.05 billion, a PE ratio of 29.31, a PEG ratio of 2.03 and a beta of 0.77.

Linde (NYSE:LIN) last issued its quarterly earnings data on Friday, May 10th. The basic materials company reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.54 by $0.15. Linde had a return on equity of 14.95% and a net margin of 23.52%. The business had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $7.03 billion. On average, equities analysts predict that Linde PLC will post 6.93 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.875 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $3.50 annualized dividend and a yield of 1.86%.

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About Linde

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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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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