Smith Salley Wealth Management Increases Stock Position in Linde plc (NASDAQ:LIN)

by · The Markets Daily

Smith Salley Wealth Management raised its stake in shares of Linde plc (NASDAQ:LIN – Free Report) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,961 shares of the basic materials company’s stock after acquiring an additional 1,200 shares during the period. Linde makes up 1.4% of Smith Salley Wealth Management’s holdings, making the stock its 21st biggest holding. Smith Salley Wealth Management’s holdings in Linde were worth $21,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Linde Stock Down 0.1 %

Shares of 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 firm has a 50 day simple moving average of $472.24 and a 200-day simple moving average of $451.19. The company has a market capitalization of $226.22 billion, a PE ratio of 36.05, a P/E/G ratio of 3.05 and a beta of 0.94. Linde plc has a twelve month low of $366.12 and a twelve month high of $487.49.

Linde (NASDAQ:LIN – Get Free Report) last issued 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 company had revenue of $8.30 billion for the quarter, compared to analyst estimates of $8.30 billion. During the same quarter last year, the company posted $3.57 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts predict that Linde plc will post 15.52 EPS for the current fiscal year.

Linde Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, September 4th. Linde’s dividend payout ratio (DPR) is 42.31%.

Insider Activity

In other news, VP John Panikar sold 10,025 shares of Linde stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $462.75, for a total value of $4,639,068.75. Following the transaction, the vice president now directly owns 17,584 shares of the company’s stock, valued at $8,136,996. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays raised their price target on shares of Linde from $460.00 to $510.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Citigroup boosted their target price on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Bank of America increased their price target on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a research report on Monday, August 5th. UBS Group cut their target price on shares of Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Linde has an average rating of “Moderate Buy” and a consensus target price of $484.18.

Read Our Latest Stock Report on LIN

Linde Company Profile

(Free Report)

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.

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