Key Points
- Linde CFO Matthew White sold 86,833 shares worth about $45.3 million, reducing his stake by 63.12%; the sale was to cover tax withholding on vested equity awards.
- Linde beat quarterly earnings and revenue estimates, reporting EPS of $4.59 and revenue of $9.4 billion; revenue rose 9.3% year over year.
- The company announced a quarterly dividend of $1.60 per share, equivalent to $6.40 annualized and a 1.2% yield.
Linde PLC (NASDAQ:LIN - Get Free Report) CFO Matthew White sold 86,833 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $521.21, for a total value of $45,258,227.93. Following the completion of the sale, the chief financial officer owned 50,733 shares in the company, valued at approximately $26,442,546.93. This represents a 63.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Linde Trading Down 1.1%
Shares of NASDAQ:LIN opened at $515.25 on Friday. The firm has a fifty day moving average of $486.57 and a two-hundred day moving average of $494.34. The company has a quick ratio of 0.72, a current ratio of 0.86 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $236.54 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67. Linde PLC has a 12-month low of $387.78 and a 12-month high of $548.20.
Linde (NASDAQ:LIN - Get Free Report) last announced its earnings results on Thursday, October 29th. The basic materials company reported $4.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.52 by $0.07. Linde had a net margin of 19.34% and a return on equity of 20.32%. The firm had revenue of $9.40 billion for the quarter, compared to analyst estimates of $9.16 billion. During the same quarter in the prior year, the business posted $4.21 EPS. The business's revenue was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Linde PLC will post 17.89 EPS for the current fiscal year.
Linde Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, December 3rd. Linde's dividend payout ratio is 42.52%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp increased its stake in Linde by 3.7% in the 2nd quarter. State Street Corp now owns 20,344,181 shares of the basic materials company's stock worth $10,558,016,000 after acquiring an additional 719,052 shares during the last quarter. Amundi raised its stake in shares of Linde by 13.4% during the first quarter. Amundi now owns 3,162,409 shares of the basic materials company's stock valued at $1,567,796,000 after purchasing an additional 373,012 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Linde by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,740,541 shares of the basic materials company's stock worth $1,358,712,000 after purchasing an additional 64,078 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Linde by 28.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,624,728 shares of the basic materials company's stock worth $805,475,000 after purchasing an additional 361,664 shares in the last quarter. Finally, Swiss National Bank boosted its position in Linde by 6.6% during the 1st quarter. Swiss National Bank now owns 1,370,361 shares of the basic materials company's stock worth $679,370,000 after acquiring an additional 85,360 shares during the last quarter. 82.80% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
LIN has been the topic of several research reports. Sanford C. Bernstein restated an "outperform" rating on shares of Linde in a research note on Monday, October 5th. Bank of America upped their price target on Linde from $532.00 to $550.00 and gave the company a "neutral" rating in a research report on Friday, July 17th. Argus reduced their price target on shares of Linde from $563.00 to $538.00 and set a "buy" rating for the company in a research note on Monday, September 28th. Berenberg Bank reissued a "buy" rating on shares of Linde in a research report on Tuesday, August 4th. Finally, Mizuho set a $583.00 target price on Linde in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Linde presently has an average rating of "Moderate Buy" and an average price target of $553.05.
Check Out Our Latest Stock Report on LIN
Linde Company Profile
(
Get Free Report)
Linde plc is a global industrial gases and engineering company. It produces and supplies atmospheric gases such as oxygen, nitrogen and argon, as well as hydrogen, helium and specialty gases. The company also designs and builds equipment and facilities used to produce and process gases.
Linde serves customers across industries including healthcare, manufacturing, chemicals, food and beverage, electronics and energy. Its operations span the Americas, Europe, the Middle East and Africa, and Asia-Pacific.
The company was formed in 2018 through the merger of Germany's Linde AG and U.S.-based Praxair, bringing together businesses with long histories in industrial gases and engineering.
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