Seven Eight Capital LP Acquires Shares of 1,185 Linde plc (NASDAQ:LIN)

Seven Eight Capital LP acquired a new stake in Linde plc (NASDAQ:LIN) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,185 shares of the basic materials company’s stock, valued at approximately $550,000.

Other hedge funds have also recently bought and sold shares of the company. Retirement Group LLC acquired a new position in shares of Linde in the 1st quarter valued at $25,000. First Pacific Financial acquired a new position in shares of Linde in the 1st quarter valued at $30,000. Scarborough Advisors LLC acquired a new position in shares of Linde in the 4th quarter valued at $30,000. Johnson Financial Group Inc. lifted its stake in shares of Linde by 44.4% in the 4th quarter. Johnson Financial Group Inc. now owns 78 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 24 shares during the period. Finally, Addison Advisors LLC lifted its stake in shares of Linde by 310.0% in the 4th quarter. Addison Advisors LLC now owns 82 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 62 shares during the period. 82.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LIN shares. HSBC cut their price target on Linde from $458.00 to $452.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Wells Fargo & Company raised their price objective on Linde from $480.00 to $540.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Mizuho raised their price objective on Linde from $510.00 to $512.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. UBS Group dropped their price objective on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Citigroup raised their price objective on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Linde currently has an average rating of “Moderate Buy” and an average target price of $464.25.

Linde Price Performance

Shares of NASDAQ LIN traded down $3.65 during midday trading on Wednesday, reaching $443.76. The company’s stock had a trading volume of 1,601,525 shares, compared to its average volume of 1,995,923. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 0.91. Linde plc has a fifty-two week low of $361.02 and a fifty-two week high of $477.71. The business’s 50 day moving average price is $436.61 and its two-hundred day moving average price is $437.55. The company has a market cap of $213.31 billion, a P/E ratio of 34.54, a P/E/G ratio of 2.82 and a beta of 0.93.

Linde (NASDAQ:LIN) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.07. Linde had a net margin of 19.26% and a return on equity of 17.49%. The company had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.38 billion. During the same period in the previous year, the business earned $3.42 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Linde plc will post 15.49 EPS for the current fiscal year.

Linde Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a dividend of $1.39 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.56 annualized dividend and a yield of 1.25%. Linde’s dividend payout ratio is currently 43.13%.

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.