ExodusPoint Capital Management LP Acquires 155,307 Shares of Linde plc (NYSE:LIN)

ExodusPoint Capital Management LP increased its holdings in shares of Linde plc (NYSE:LIN - Free Report) by 240.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,896 shares of the basic materials company's stock after buying an additional 155,307 shares during the quarter. Linde comprises approximately 0.6% of ExodusPoint Capital Management LP's portfolio, making the stock its 8th biggest holding. ExodusPoint Capital Management LP's holdings in Linde were worth $78,160,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC increased its holdings in shares of Linde by 51.9% during the 1st quarter. Strengthening Families & Communities LLC now owns 82 shares of the basic materials company's stock worth $29,000 after buying an additional 28 shares during the last quarter. PFG Advisors boosted its position in Linde by 1.2% during the 1st quarter. PFG Advisors now owns 2,499 shares of the basic materials company's stock valued at $888,000 after purchasing an additional 29 shares during the period. BerganKDV Wealth Management LLC grew its position in shares of Linde by 10.4% during the first quarter. BerganKDV Wealth Management LLC now owns 308 shares of the basic materials company's stock worth $109,000 after acquiring an additional 29 shares during the last quarter. Jackson Grant Investment Advisers Inc. grew its position in Linde by 17.2% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 198 shares of the basic materials company's stock worth $70,000 after purchasing an additional 29 shares during the last quarter. Finally, Glassman Wealth Services increased its position in Linde by 4.0% in the 1st quarter. Glassman Wealth Services now owns 763 shares of the basic materials company's stock valued at $271,000 after acquiring an additional 29 shares during the period. 80.44% of the stock is owned by institutional investors and hedge funds.

Shares of Linde stock traded up $0.76 during trading on Wednesday, hitting $378.35. The stock had a trading volume of 929,178 shares, compared to its average volume of 1,910,515. Linde plc has a 1 year low of $262.47 and a 1 year high of $393.67. The stock has a 50 day simple moving average of $378.12 and a 200 day simple moving average of $361.80. The company has a quick ratio of 0.64, a current ratio of 0.78 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $184.62 billion, a PE ratio of 32.95, a P/E/G ratio of 2.57 and a beta of 0.84.

Linde (NYSE:LIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.10. The firm had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $8.70 billion. Linde had a net margin of 17.20% and a return on equity of 16.17%. The company's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.10 EPS. On average, research analysts expect that Linde plc will post 14.03 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, September 5th will be given a dividend of $1.275 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $5.10 dividend on an annualized basis and a yield of 1.35%. Linde's payout ratio is presently 44.50%.

Several research firms have recently issued reports on LIN. BMO Capital Markets increased their price target on Linde from $400.00 to $418.00 in a research note on Monday, July 31st. HSBC raised their target price on shares of Linde from $416.00 to $440.00 and gave the company a "buy" rating in a research note on Monday, August 7th. Morgan Stanley reiterated an "overweight" rating and issued a $420.00 price objective on shares of Linde in a report on Tuesday, August 1st. JPMorgan Chase & Co. boosted their target price on Linde from $400.00 to $420.00 in a report on Friday, July 28th. Finally, Wells Fargo & Company increased their price target on Linde from $420.00 to $444.00 and gave the company an "overweight" rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $404.41.

Get Our Latest Stock Report on LIN

In related news, Director Stephen F. Angel sold 39,695 shares of Linde stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $391.62, for a total transaction of $15,545,355.90. Following the completion of the sale, the director now owns 369,611 shares of the company's stock, valued at $144,747,059.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Linde news, Director Stephen F. Angel sold 39,695 shares of the business's stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $391.62, for a total value of $15,545,355.90. Following the completion of the sale, the director now directly owns 369,611 shares of the company's stock, valued at $144,747,059.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sean Durbin sold 1,966 shares of the firm's stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $373.46, for a total transaction of $734,222.36. Following the transaction, the vice president now owns 8,149 shares in the company, valued at approximately $3,043,325.54. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

Linde plc operates as an industrial gas 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.

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