Parcion Private Wealth LLC Trims Stock Position in Linde plc (NASDAQ:LIN)

Parcion Private Wealth LLC reduced its position in shares of Linde plc (NASDAQ:LIN) by 2.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,604 shares of the basic materials company’s stock after selling 348 shares during the quarter. Parcion Private Wealth LLC’s holdings in Linde were worth $6,408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Group LLC acquired a new stake in shares of Linde in the first quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in Linde in the second quarter valued at approximately $28,000. First Pacific Financial purchased a new position in shares of Linde in the 1st quarter valued at about $30,000. Scarborough Advisors LLC purchased a new position in Linde in the fourth quarter valued at approximately $30,000. Finally, Valued Wealth Advisors LLC raised its holdings in Linde by 49.0% during the first quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 82.80% of the company’s stock.

Linde Trading Down 1.9 %

Shares of NASDAQ LIN traded down $8.67 during mid-day trading on Friday, hitting $456.85. The company’s stock had a trading volume of 2,012,129 shares, compared to its average volume of 1,897,746. The company’s fifty day simple moving average is $451.18 and its 200-day simple moving average is $447.87. Linde plc has a one year low of $361.02 and a one year high of $479.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.95 and a quick ratio of 0.80. The stock has a market cap of $218.15 billion, a price-to-earnings ratio of 35.44, a price-to-earnings-growth ratio of 3.00 and a beta of 0.94.

Linde (NASDAQ:LIN) last announced its earnings results on Friday, August 2nd. The basic materials company reported $3.85 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $0.06. The firm had revenue of $8.30 billion for the quarter, compared to analysts’ expectations of $8.30 billion. Linde had a net margin of 19.49% and a return on equity of 17.92%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.57 EPS. On average, sell-side analysts anticipate that Linde plc will post 15.54 earnings per share for the current fiscal year.

Linde Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a dividend of $1.39 per share. This represents a $5.56 annualized dividend and a yield of 1.22%. The ex-dividend date is Wednesday, September 4th. Linde’s dividend payout ratio is presently 43.13%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Linde from $430.00 to $480.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Bank of America increased their price target on Linde from $495.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. BMO Capital Markets reissued an “outperform” rating and issued a $477.00 target price on shares of Linde in a research note on Friday, August 30th. Citigroup boosted their price target on Linde from $470.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Finally, Barclays boosted their target price on shares of Linde from $460.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $484.18.

Linde 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.