Moran Wealth Management LLC Makes New Investment in Linde plc (NYSE:LIN)

Sep 07, 2023

Moran Wealth Management LLC acquired a new position in shares of Linde plc (NYSE:LIN - Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 78,604 shares of the basic materials company's stock, valued at approximately $25,639,000. Linde comprises approximately 1.0% of Moran Wealth Management LLC's investment portfolio, making the stock its 20th biggest holding.

Several other hedge funds also recently made changes to their positions in LIN. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Linde during the fourth quarter worth about $30,000. Montag A & Associates Inc. boosted its stake in shares of Linde by 76.7% during the fourth quarter. Montag A & Associates Inc. now owns 106 shares of the basic materials company's stock worth $35,000 after buying an additional 46 shares during the period. MCF Advisors LLC boosted its stake in shares of Linde by 46.6% during the fourth quarter. MCF Advisors LLC now owns 107 shares of the basic materials company's stock worth $35,000 after buying an additional 34 shares during the period. Accurate Wealth Management LLC acquired a new stake in shares of Linde during the fourth quarter worth about $35,000. Finally, Moisand Fitzgerald Tamayo LLC lifted its position in Linde by 80.0% in the fourth quarter. Moisand Fitzgerald Tamayo LLC now owns 117 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 78.15% of the company's stock.

Shares of NYSE LIN traded down $0.63 during trading on Thursday, hitting $361.66. 387,980 shares of the company traded hands, compared to its average volume of 2,141,840. Linde plc has a 1 year low of $262.47 and a 1 year high of $373.58. The company has a 50-day moving average price of $362.27 and a 200-day moving average price of $343.80. The firm has a market capitalization of $177.34 billion, a P/E ratio of 40.21, a P/E/G ratio of 2.59 and a beta of 0.84. The company has a quick ratio of 0.61, a current ratio of 0.73 and a debt-to-equity ratio of 0.28.

Linde (NYSE:LIN - Get Rating) last posted its earnings results on Thursday, April 27th. The basic materials company reported $3.42 earnings per share for the quarter, beating the consensus estimate of $3.12 by $0.30. The business had revenue of $8.19 billion for the quarter, compared to analyst estimates of $8.20 billion. Linde had a net margin of 13.46% and a return on equity of 15.71%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.93 EPS. On average, equities analysts predict that Linde plc will post 13.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Shareholders of record on Friday, June 2nd will be issued a $1.275 dividend. The ex-dividend date is Thursday, June 1st. This represents a $5.10 dividend on an annualized basis and a yield of 1.41%. Linde's dividend payout ratio is currently 56.60%.

In other Linde news, Director Stephen F. Angel sold 45,309 shares of the business's stock in a transaction on Monday, May 1st. The shares were sold at an average price of $372.35, for a total value of $16,870,806.15. Following the transaction, the director now owns 369,611 shares in the company, valued at approximately $137,624,655.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Stephen F. Angel sold 45,309 shares of the business's stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $372.35, for a total value of $16,870,806.15. Following the completion of the sale, the director now owns 369,611 shares of the company's stock, valued at approximately $137,624,655.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Guillermo Bichara sold 14,648 shares of the business's stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $371.55, for a total transaction of $5,442,464.40. Following the completion of the sale, the vice president now directly owns 27,161 shares of the company's stock, valued at approximately $10,091,669.55. The disclosure for this sale can be found here. Insiders have sold 62,151 shares of company stock worth $23,127,288 in the last quarter. 0.70% of the stock is owned by corporate insiders.

A number of equities research analysts recently commented on LIN shares. BMO Capital Markets raised their price objective on shares of Linde from $370.00 to $378.00 and gave the company an "outperform" rating in a research report on Tuesday, February 14th. Wells Fargo & Company raised their price objective on shares of Linde from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Wednesday, February 8th. HSBC lifted their price target on shares of Linde from $380.00 to $416.00 in a research report on Monday, May 8th. 888 reiterated a "maintains" rating on shares of Linde in a research report on Friday, April 28th. Finally, Barclays lifted their price target on shares of Linde from $380.00 to $400.00 in a research report on Friday, April 28th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $380.76.

Linde Plc is a global industrial gases and engineering company. It designs and builds equipment that produces industrial gases. The company also offers gas production and processing services such as olefin plants, natural gas plants, air separation plants, hydrogen and synthesis gas plants and other types of plants.

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