Mirae Asset Global Investments Co. Ltd. boosted its holdings in Linde plc (NYSE:LIN) by 14.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,462 shares of the basic materials company’s stock after purchasing an additional 3,305 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Linde were worth $7,413,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. grew its position in Linde by 0.9% during the first quarter. BlackRock Inc. now owns 31,736,556 shares of the basic materials company’s stock valued at $8,890,678,000 after acquiring an additional 271,363 shares during the period. Norges Bank purchased a new stake in Linde during the fourth quarter valued at about $2,719,979,000. Bank of New York Mellon Corp grew its position in Linde by 9.4% during the fourth quarter. Bank of New York Mellon Corp now owns 10,126,594 shares of the basic materials company’s stock valued at $2,668,460,000 after acquiring an additional 866,271 shares during the period. Geode Capital Management LLC grew its position in Linde by 2.0% during the first quarter. Geode Capital Management LLC now owns 8,234,156 shares of the basic materials company’s stock valued at $2,300,479,000 after acquiring an additional 159,634 shares during the period. Finally, Wells Fargo & Company MN grew its position in Linde by 5.5% during the fourth quarter. Wells Fargo & Company MN now owns 4,916,821 shares of the basic materials company’s stock valued at $1,295,632,000 after acquiring an additional 255,915 shares during the period. 73.30% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE LIN opened at $285.13 on Friday. The company’s 50 day moving average price is $293.43. Linde plc has a 52-week low of $204.02 and a 52-week high of $305.71. The firm has a market capitalization of $148.28 billion, a PE ratio of 51.84, a P/E/G ratio of 2.63 and a beta of 0.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.74 and a quick ratio of 0.63.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 17th. Stockholders of record on Thursday, June 3rd were given a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Wednesday, June 2nd. Linde’s payout ratio is 51.52%.
LIN has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Linde from $311.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 11th. Baader Bank reaffirmed a “buy” rating on shares of Linde in a research report on Sunday, May 16th. Cowen initiated coverage on Linde in a research report on Wednesday, March 24th. They issued a “market perform” rating and a $300.00 target price for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Linde from $333.00 to $358.00 in a research report on Tuesday, May 11th. Finally, The Goldman Sachs Group upped their target price on Linde from $309.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, May 11th. Two investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $314.12.
Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers oxygen, nitrogen, argon, rare gases, carbon dioxide, hydrogen, helium, electronic and specialty gases, acetylene, and carbon monoxide. The company also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, hydrogen and synthesis gas, and other plants.
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