McCollum Christoferson Group LLC Reduces Holdings in Linde plc (NASDAQ:LIN)

McCollum Christoferson Group LLC reduced its stake in Linde plc (NASDAQ:LIN) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,530 shares of the basic materials company’s stock after selling 114 shares during the quarter. Linde comprises approximately 3.5% of McCollum Christoferson Group LLC’s holdings, making the stock its 8th largest position. McCollum Christoferson Group LLC’s holdings in Linde were worth $12,174,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LIN. Retirement Group LLC bought a new position in Linde in the 1st quarter valued at approximately $25,000. Summit Securities Group LLC bought a new position in Linde in the 2nd quarter valued at approximately $28,000. Scarborough Advisors LLC bought a new position in Linde in the 4th quarter valued at approximately $30,000. Strategic Financial Concepts LLC bought a new position in Linde in the 2nd quarter valued at approximately $33,000. Finally, Valued Wealth Advisors LLC lifted its position in Linde by 49.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 73 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 24 shares in the last quarter. 82.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group lowered their price target on Linde from $490.00 to $475.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Bank of America increased their price target on Linde from $495.00 to $516.00 and gave the company a “buy” rating in a report on Monday, August 5th. BMO Capital Markets reissued an “outperform” rating and set a $477.00 price target on shares of Linde in a report on Friday, August 30th. Citigroup increased their price target on Linde from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. increased their price target on Linde from $430.00 to $480.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Linde currently has a consensus rating of “Moderate Buy” and a consensus target price of $484.18.

Linde Trading Up 0.7 %

Shares of LIN stock opened at $483.98 on Thursday. Linde plc has a 52-week low of $361.02 and a 52-week high of $485.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.95. The firm has a market capitalization of $232.64 billion, a PE ratio of 37.55, a PEG ratio of 2.94 and a beta of 0.94. The stock has a fifty day simple moving average of $468.07 and a two-hundred day simple moving average of $450.25.

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

Linde Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.39 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.56 dividend on an annualized basis and a dividend yield of 1.15%. Linde’s payout ratio is 43.13%.

Insider Activity

In other news, VP John Panikar sold 10,025 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $462.75, for a total transaction of $4,639,068.75. Following the completion of the transaction, the vice president now owns 17,584 shares in the company, valued at $8,136,996. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.

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.