Raymond James Financial Inc. Invests $308.25 Million in Linde plc (NASDAQ:LIN)

Raymond James Financial Inc. bought a new stake in Linde plc (NASDAQ:LIN) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 736,260 shares of the basic materials company’s stock, valued at approximately $308,251,000. Raymond James Financial Inc. owned 0.15% of Linde at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Linde by 372.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,288,088 shares of the basic materials company’s stock worth $1,567,958,000 after acquiring an additional 2,592,682 shares during the period. Proficio Capital Partners LLC raised its holdings in Linde by 56,467.9% in the 4th quarter. Proficio Capital Partners LLC now owns 1,097,982 shares of the basic materials company’s stock worth $459,692,000 after purchasing an additional 1,096,041 shares during the period. Assenagon Asset Management S.A. boosted its position in Linde by 2,293.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 782,461 shares of the basic materials company’s stock worth $327,593,000 after purchasing an additional 749,763 shares in the last quarter. KBC Group NV grew its holdings in Linde by 131.6% in the third quarter. KBC Group NV now owns 621,444 shares of the basic materials company’s stock valued at $296,342,000 after purchasing an additional 353,136 shares during the period. Finally, DJE Kapital AG purchased a new stake in shares of Linde in the fourth quarter valued at approximately $121,442,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

Linde Stock Down 0.4 %

NASDAQ LIN opened at $466.16 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 0.39. Linde plc has a 52 week low of $410.69 and a 52 week high of $487.49. The business’s fifty day simple moving average is $443.88 and its 200-day simple moving average is $455.24. The firm has a market cap of $220.45 billion, a PE ratio of 34.25, a P/E/G ratio of 3.08 and a beta of 0.94.

Linde (NASDAQ:LIN) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.93 by $0.04. Linde had a net margin of 19.89% and a return on equity of 18.71%. As a group, equities analysts anticipate that Linde plc will post 16.54 earnings per share for the current year.

Linde Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Thursday, March 13th. This is a positive change from Linde’s previous quarterly dividend of $1.39. Linde’s dividend payout ratio is 44.09%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LIN. TD Cowen upgraded Linde from a “hold” rating to a “buy” rating and increased their target price for the company from $480.00 to $515.00 in a research report on Monday, January 13th. Erste Group Bank reiterated a “hold” rating on shares of Linde in a research report on Tuesday, November 19th. Finally, Citigroup decreased their price target on shares of Linde from $490.00 to $480.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $501.82.

Insider Transactions at Linde

In related news, VP David P. Strauss sold 2,477 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $469.74, for a total transaction of $1,163,545.98. Following the completion of the transaction, the vice president now owns 1,300 shares of the company’s stock, valued at approximately $610,662. This trade represents a 65.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Juergen Nowicki sold 6,782 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $459.62, for a total value of $3,117,142.84. Following the completion of the sale, the vice president now directly owns 14,765 shares in the company, valued at approximately $6,786,289.30. The trade was a 31.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,377 shares of company stock worth $6,567,231. 0.60% of the stock is currently owned by company insiders.

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.