Benin Management CORP Increases Stake in Linde PLC by 6.1%

Benin Management CORP has raised its stake in Linde PLC (NASDAQ: LIN) by 6.1% during the second quarter of 2023, as stated in its latest Form 13F filing with the Securities & Exchange Commission. The investment firm now holds a total of 1,558 shares in the industrial gas company, valued at approximately $731,000 following the acquisition of an additional 89 shares during this period.

Other institutional investors have also shown interest in Linde recently. North Capital Inc. established a new position in the first quarter, valued at $25,000, while Abound Financial LLC and eCIO Inc. acquired positions worth $41,000 and $45,000, respectively. Clal Insurance Enterprises Holdings Ltd significantly increased its holdings in Linde by 445.0%, now owning 109 shares valued at approximately $51,000 after purchasing an additional 89 shares. Nova Wealth Management Inc. also entered the market with a new stake valued at $52,000. Currently, institutional investors and hedge funds collectively own 82.80% of Linde’s stock.

Linde’s Current Stock Performance

As of Wednesday, Linde shares opened at $450.08, contributing to the company’s overall market capitalization of $211.05 billion. The stock features a price-to-earnings ratio of 32.01, a price-to-earnings growth ratio of 2.98, and a beta of 0.93. Linde’s financial ratios reflect a debt-to-equity ratio of 0.49, a quick ratio of 0.78, and a current ratio of 0.93. The stock has seen a one-year low of $408.65 and a high of $486.38, with its fifty-day moving average at $471.85 and its 200-day moving average at $464.05.

Recently, the company declared a quarterly dividend, which was paid on September 18, 2023. Shareholders on record as of September 4, 2023, received a dividend of $1.50 per share, translating to an annualized dividend of $6.00 and a yield of 1.3%. Linde’s dividend payout ratio stands at 42.67%.

Analyst Ratings and Insider Activity

A series of analyst reports have emerged recently regarding Linde’s stock. UBS Group lowered their price target from $510.00 to $507.00, maintaining a “neutral” rating. Conversely, Citigroup raised their price target from $530.00 to $535.00, issuing a “buy” rating. Weiss Ratings reaffirmed a “buy (b)” rating, while JPMorgan Chase & Co. increased their target from $470.00 to $475.00, assigning an “overweight” rating. Currently, two analysts have rated Linde as a Strong Buy, eight have issued Buy ratings, and two have assigned a Hold rating, leading to a consensus rating of “Buy” with an average target price of $520.00.

On a related note, Director Stephen F. Angel sold 50,309 shares of Linde on August 7, 2023, at an average price of $473.38, resulting in a total transaction value of approximately $23.8 million. Following this transaction, Angel held 480,543 shares valued at about $227.5 million, reflecting a 9.48% decrease in his position. This transaction was disclosed in a filing with the Securities & Exchange Commission.

About Linde PLC

Linde PLC operates as a leading industrial gas company with a presence across the Americas, Europe, the Middle East, Africa, Asia, and the South Pacific. The company specializes in providing atmospheric gases, such as oxygen, nitrogen, and argon, in addition to various process gases, including carbon dioxide, helium, hydrogen, and specialty gases.

For further updates on Linde and other investment opportunities, stakeholders can visit financial platforms that track institutional holdings and insider trades.