Manchester Financial Inc. Cuts Holdings in Linde plc (NASDAQ:LIN)

Manchester Financial Inc. lessened its stake in Linde plc (NASDAQ:LIN) by 3.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,861 shares of the basic materials company’s stock after selling 202 shares during the quarter. Linde accounts for approximately 0.6% of Manchester Financial Inc.’s portfolio, making the stock its 22nd biggest position. Manchester Financial Inc.’s holdings in Linde were worth $2,795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Retirement Group LLC purchased a new stake in Linde during the 1st quarter worth about $25,000. Summit Securities Group LLC acquired a new stake in shares of Linde during the 2nd quarter worth about $28,000. Strategic Financial Concepts LLC acquired a new stake in shares of Linde during the 2nd quarter worth about $33,000. Valued Wealth Advisors LLC lifted its stake in Linde by 49.0% during the first quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 24 shares during the last quarter. Finally, Kozak & Associates Inc. acquired a new position in Linde in the third quarter valued at approximately $34,000. 82.80% of the stock is owned by institutional investors and hedge funds.

Linde Stock Performance

NASDAQ LIN opened at $473.76 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $472.24 and its two-hundred day moving average is $451.19. The stock has a market capitalization of $226.22 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 3.05 and a beta of 0.94. Linde plc has a 12-month low of $366.12 and a 12-month high of $487.49.

Linde (NASDAQ:LIN) last released its quarterly earnings data on Friday, August 2nd. The basic materials company reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.06. Linde had a return on equity of 17.92% and a net margin of 19.49%. The firm had revenue of $8.30 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same quarter in the prior year, the business posted $3.57 earnings per share. Linde’s revenue was up 1.2% compared to the same quarter last year. Research analysts expect that Linde plc will post 15.52 EPS for the current year.

Linde Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $1.39 dividend. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s dividend payout ratio is currently 42.31%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group reduced their price objective on shares of Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. BMO Capital Markets reiterated an “outperform” rating and set a $477.00 price target on shares of Linde in a research note on Friday, August 30th. Barclays raised their price objective on Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted 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. Finally, Citigroup upped their target price on Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Linde presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.18.

Insider Activity at Linde

In other Linde news, VP John Panikar sold 10,025 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the sale, the vice president now directly owns 17,584 shares in the company, valued at approximately $8,136,996. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

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.