Louisiana State Employees Retirement System increased its holdings in shares of Linde PLC (NYSE:LIN) by 0.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 29,100 shares of the basic materials company’s stock after purchasing an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Linde were worth $5,120,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Linde during the 4th quarter worth $4,827,463,000. Norges Bank bought a new stake in shares of Linde during the 4th quarter worth $2,624,717,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Linde during the 4th quarter worth $2,336,558,000. Bank of New York Mellon Corp bought a new stake in shares of Linde during the 4th quarter worth $1,604,835,000. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of Linde during the 4th quarter worth $60,000. Institutional investors and hedge funds own 73.06% of the company’s stock.
LIN has been the subject of several recent analyst reports. Zacks Investment Research downgraded Linde from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 2nd. Societe Generale started coverage on Linde in a research report on Tuesday, January 8th. They set a “buy” rating and a $190.00 price objective for the company. SunTrust Banks started coverage on Linde in a research report on Tuesday, January 15th. They issued a “buy” rating and a $185.00 target price for the company. KeyCorp started coverage on Linde in a research report on Monday, January 14th. They issued an “overweight” rating and a $188.00 target price for the company. Finally, Citigroup started coverage on Linde in a research report on Monday, January 7th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $188.18.
Linde stock traded down $0.60 during trading hours on Monday, hitting $179.75. The stock had a trading volume of 9,785 shares, compared to its average volume of 1,697,130. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $99.38 billion, a PE ratio of 30.69, a P/E/G ratio of 1.90 and a beta of 0.78. Linde PLC has a one year low of $145.95 and a one year high of $185.92.
The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.875 dividend. The ex-dividend date was Thursday, March 7th. This represents a $3.50 annualized dividend and a yield of 1.95%. Linde’s dividend payout ratio is presently 28.21%.
In other news, CFO Matthew J. White sold 7,773 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $185.01, for a total value of $1,438,082.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew J. White sold 7,749 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $164.99, for a total value of $1,278,507.51. The disclosure for this sale can be found here. Insiders sold 73,675 shares of company stock valued at $13,419,200 over the last quarter. Corporate insiders own 0.23% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This report was originally published by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://www.thelincolnianonline.com/2019/04/15/linde-plc-lin-position-increased-by-louisiana-state-employees-retirement-system.html.
Linde plc operates as an industrial gas and engineering company. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene, shielding gases, and noble gases, as well as develops and distributes procedures and systems for gas applications.
Featured Story: What is a Leveraged Buyout (LBO)?
Want to see what other hedge funds are holding LIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Linde PLC (NYSE:LIN).
Receive News & Ratings for Linde Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Linde and related companies with MarketBeat.com's FREE daily email newsletter.