Cambridge Financial Group Inc. Sells 2,395 Shares of Linde plc (NYSE:LIN)

Cambridge Financial Group Inc. lowered its stake in Linde plc (NYSE:LINGet Rating) by 9.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 24,060 shares of the basic materials company’s stock after selling 2,395 shares during the quarter. Linde accounts for 3.4% of Cambridge Financial Group Inc.’s portfolio, making the stock its 12th biggest position. Cambridge Financial Group Inc.’s holdings in Linde were worth $7,685,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LIN. Norges Bank purchased a new stake in Linde in the fourth quarter worth $2,589,853,000. Capital International Investors grew its stake in Linde by 51.0% in the fourth quarter. Capital International Investors now owns 7,835,794 shares of the basic materials company’s stock worth $2,714,440,000 after purchasing an additional 2,646,192 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Linde in the first quarter worth $504,023,000. Capital World Investors grew its stake in Linde by 22.7% in the fourth quarter. Capital World Investors now owns 7,657,766 shares of the basic materials company’s stock worth $2,654,399,000 after purchasing an additional 1,416,567 shares during the period. Finally, Egerton Capital UK LLP grew its stake in Linde by 92.1% in the first quarter. Egerton Capital UK LLP now owns 2,443,717 shares of the basic materials company’s stock worth $780,597,000 after purchasing an additional 1,171,725 shares during the period. Institutional investors own 72.95% of the company’s stock.

Linde Price Performance

NYSE LIN traded down $0.27 during trading on Friday, hitting $301.97. 1,113,119 shares of the stock traded hands, compared to its average volume of 1,881,504. The company has a market capitalization of $150.49 billion, a P/E ratio of 43.76, a price-to-earnings-growth ratio of 2.54 and a beta of 0.87. The firm has a 50-day simple moving average of $296.43 and a 200-day simple moving average of $304.23. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 0.27. Linde plc has a 12-month low of $265.12 and a 12-month high of $352.18.

Linde (NYSE:LINGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The basic materials company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.11. Linde had a return on equity of 13.41% and a net margin of 10.88%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same period last year, the company earned $2.70 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, analysts predict that Linde plc will post 11.9 EPS for the current year.

Linde Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be issued a $1.17 dividend. The ex-dividend date is Thursday, September 1st. This represents a $4.68 dividend on an annualized basis and a dividend yield of 1.55%. Linde’s dividend payout ratio is presently 67.83%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Credit Suisse Group assumed coverage on Linde in a research note on Tuesday, May 31st. They issued an “outperform” rating and a $380.00 price target on the stock. Jefferies Financial Group cut their target price on Linde from $390.00 to $355.00 in a research note on Thursday, June 16th. AlphaValue raised Linde to a “reduce” rating in a research note on Tuesday, May 3rd. Evercore ISI raised Linde from an “in-line” rating to an “outperform” rating and set a $355.00 target price on the stock in a research note on Tuesday, May 31st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Linde from €370.00 ($381.44) to €355.00 ($365.98) and set a “buy” rating on the stock in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $368.86.

Linde Profile

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Linde plc operates as an industrial gas and engineering company in North and South America, Europe, the Middle East, Africa, and the Asia 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.

Further Reading

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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