Linde plc (NASDAQ:LIN) is Northstar Asset Management Inc.’s 3rd Largest Position

06 Nov 2024, 08:11 by Doug Wharley · The Cerbat Gem

Northstar Asset Management Inc. cut its position in Linde plc (NASDAQ:LIN – Free Report) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,903 shares of the basic materials company’s stock after selling 546 shares during the quarter. Linde makes up 4.8% of Northstar Asset Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Northstar Asset Management Inc.’s holdings in Linde were worth $19,505,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LIN. Summit Securities Group LLC acquired a new position in shares of Linde in the second quarter valued at approximately $28,000. Strategic Financial Concepts LLC purchased a new position in Linde during the 2nd quarter worth $33,000. Kozak & Associates Inc. acquired a new stake in shares of Linde in the 3rd quarter worth $34,000. J.Safra Asset Management Corp purchased a new stake in shares of Linde in the second quarter valued at about $42,000. Finally, Bangor Savings Bank increased its stake in shares of Linde by 62.9% during the second quarter. Bangor Savings Bank now owns 101 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 39 shares during the period. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP John Panikar sold 10,025 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total value of $4,639,068.75. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LIN. Barclays lifted their price objective on Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a report on Monday, August 5th. BMO Capital Markets increased their price objective on Linde from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report 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. UBS Group cut their price target on shares of Linde from $490.00 to $475.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $490.75.

Check Out Our Latest Stock Analysis on Linde

Linde Stock Performance

Linde stock opened at $454.89 on Wednesday. Linde plc has a fifty-two week low of $385.12 and a fifty-two week high of $487.49. The company has a market capitalization of $216.60 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 2.90 and a beta of 0.94. The stock has a fifty day moving average of $472.32 and a two-hundred day moving average of $452.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.81 and a current ratio of 0.96.

Linde (NASDAQ:LIN – Get Free Report) last announced its earnings results on Thursday, October 31st. The basic materials company reported $3.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.05. The firm had revenue of $8.36 billion for 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 was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.63 earnings per share. On average, analysts anticipate that Linde plc will post 15.49 EPS for the current fiscal year.

Linde Announces Dividend

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

Linde Profile

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