Linde PLC (NYSE:LIN) Sees Significant Growth in Short Interest

Linde PLC (NYSE:LIN) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 5,500,000 shares, an increase of 23.3% from the August 30th total of 4,460,000 shares. Based on an average daily trading volume, of 1,600,000 shares, the short-interest ratio is currently 3.4 days. Approximately 1.0% of the shares of the company are short sold.

Several research analysts have commented on the company. Deutsche Bank lifted their price target on Linde from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. DZ Bank restated a “buy” rating on shares of Linde in a research report on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Linde from $206.00 to $208.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. KeyCorp boosted their price objective on Linde from $205.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, UBS Group restated a “buy” rating on shares of Linde in a research report on Friday, July 12th. Three analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $201.83.

In other Linde news, VP Bernd Hugo Eulitz sold 335 shares of Linde stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $186.43, for a total value of $62,454.05. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in Linde by 252.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,000,888 shares of the basic materials company’s stock valued at $2,008,178,000 after acquiring an additional 7,159,363 shares during the period. FMR LLC grew its position in Linde by 4.6% in the first quarter. FMR LLC now owns 8,219,013 shares of the basic materials company’s stock valued at $1,440,632,000 after acquiring an additional 364,348 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in Linde by 41.2% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 6,929,763 shares of the basic materials company’s stock valued at $1,391,497,000 after acquiring an additional 2,022,326 shares during the period. Nuveen Asset Management LLC grew its position in Linde by 4,412.8% in the second quarter. Nuveen Asset Management LLC now owns 6,687,706 shares of the basic materials company’s stock valued at $1,342,890,000 after acquiring an additional 6,539,513 shares during the period. Finally, Northern Trust Corp grew its position in Linde by 1.1% in the second quarter. Northern Trust Corp now owns 6,407,044 shares of the basic materials company’s stock valued at $1,286,535,000 after acquiring an additional 71,203 shares during the period. Hedge funds and other institutional investors own 73.81% of the company’s stock.

Shares of LIN traded up $3.02 on Friday, reaching $194.25. 1,565,953 shares of the stock traded hands, compared to its average volume of 1,462,333. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.85 and a current ratio of 1.02. Linde has a 12 month low of $145.95 and a 12 month high of $206.82. The stock’s 50-day moving average price is $189.04 and its 200-day moving average price is $189.75.

Linde (NYSE:LIN) last released its quarterly earnings data on Monday, August 5th. The basic materials company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.08. The business had revenue of $7.20 billion for the quarter, compared to analysts’ expectations of $7.16 billion. Linde had a return on equity of 12.10% and a net margin of 19.45%. Sell-side analysts forecast that Linde will post 7.13 EPS for the current year.

The business also recently declared a dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $0.875 dividend. The ex-dividend date of this dividend was Friday, August 30th.

Linde Company Profile

Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

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