CI Investments Inc. Decreases Holdings in Linde plc (NYSE:LIN)


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CI Investments Inc. lowered its position in Linde plc (NYSE:LIN) by 29.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,200 shares of the basic materials company’s stock after selling 107,313 shares during the quarter. CI Investments Inc.’s holdings in Linde were worth $66,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Linde by 7.6% during the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 182,532 shares of the basic materials company’s stock valued at $48,099,000 after purchasing an additional 12,871 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Linde by 13.2% during the fourth quarter. ProShare Advisors LLC now owns 520,748 shares of the basic materials company’s stock valued at $137,222,000 after buying an additional 60,735 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of Linde by 13.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 370,314 shares of the basic materials company’s stock valued at $97,582,000 after buying an additional 42,900 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Linde by 13.9% in the fourth quarter. Greenleaf Trust now owns 3,817 shares of the basic materials company’s stock worth $1,006,000 after buying an additional 465 shares during the period. Finally, Highland Private Wealth Management lifted its stake in shares of Linde by 2.7% in the 4th quarter. Highland Private Wealth Management now owns 1,609 shares of the basic materials company’s stock valued at $424,000 after acquiring an additional 42 shares during the last quarter. 72.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of LIN stock opened at $251.07 on Tuesday. The business’s fifty day moving average is $256.16 and its 200 day moving average is $248.69. The company has a quick ratio of 0.71, a current ratio of 0.83 and a debt-to-equity ratio of 0.25. The stock has a market cap of $131.78 billion, a price-to-earnings ratio of 59.64, a PEG ratio of 2.66 and a beta of 0.78. Linde plc has a twelve month low of $146.71 and a twelve month high of $274.58.

Linde (NYSE:LIN) last announced its earnings results on Thursday, February 4th. The basic materials company reported $2.30 EPS for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.16. The firm had revenue of $7.27 billion for the quarter, compared to analysts’ expectations of $6.97 billion. Linde had a net margin of 8.29% and a return on equity of 8.56%. Equities research analysts expect that Linde plc will post 8.08 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 22nd. Investors of record on Friday, March 5th will be paid a dividend of $1.06 per share. The ex-dividend date is Thursday, March 4th. This represents a $4.24 annualized dividend and a yield of 1.69%. This is a positive change from Linde’s previous quarterly dividend of $0.96. Linde’s payout ratio is presently 52.45%.

In other Linde news, insider Kelcey E. Hoyt sold 2,559 shares of the firm’s stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $251.66, for a total transaction of $643,997.94. Following the completion of the transaction, the insider now owns 6,779 shares of the company’s stock, valued at $1,706,003.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

A number of equities analysts have commented on the company. BMO Capital Markets lifted their price target on Linde from $280.00 to $293.00 and gave the stock an “outperform” rating in a research note on Friday, November 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Linde in a research note on Friday, February 5th. Morgan Stanley increased their price target on shares of Linde from $281.00 to $285.00 and gave the company an “overweight” rating in a research report on Monday, February 8th. Berenberg Bank reissued a “buy” rating on shares of Linde in a report on Wednesday, November 11th. Finally, Barclays reaffirmed an “overweight” rating and set a $285.00 price objective on shares of Linde in a research note on Monday, December 7th. Three equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $260.24.

Linde Profile

Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. It also designs and constructs turnkey process plants, such as olefin, natural gas, air separation, and hydrogen and synthesis gas plants.

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Institutional Ownership by Quarter for Linde (NYSE:LIN)

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