KBC Group NV has enhanced its investment in Linde PLC by acquiring an additional 49,937 shares, increasing its position by 8.6% during the second quarter. This acquisition brings KBC Group’s total holdings in Linde to 628,631 shares. As of the latest filing with the Securities and Exchange Commission (SEC), Linde constitutes 0.8% of KBC Group’s investment portfolio, making it the fund’s 16th largest holding. At the end of the quarter, the total value of KBC Group’s stake in Linde was approximately $294,941,000.
A number of other institutional investors have also adjusted their positions in Linde. For instance, Jupiter Asset Management Ltd. increased its stake by 0.6%, bringing its total to 437,393 shares valued at $205,216,000 after purchasing an additional 2,616 shares. Similarly, Mitsubishi UFJ Trust & Banking Corp. raised its holdings by 9.4%, now owning 280,764 shares worth $131,729,000 following an acquisition of 24,034 shares.
New investments in Linde were made by Ironwood Investment Counsel LLC and Pembroke Management LTD, with stakes valued at approximately $260,000 and $300,000, respectively. Additionally, STF Management LP increased its holdings by 2.5%, now owning 7,433 shares worth $3,487,000 after acquiring an additional 184 shares. Notably, hedge funds and other institutional investors collectively own about 82.80% of Linde’s shares.
Market Performance and Dividend Announcement
Linde’s stock opened at $426.65 on the market recently. The company has experienced a 12-month low of $408.65 and a high of $486.38, with a market capitalization currently standing at $199.22 billion. Linde’s price-to-earnings ratio is noted at 30.34, with a P/E/G ratio of 2.85 and a beta of 0.91. The firm has a 50-day moving average of $456.92 and a 200-day moving average of $463.07. Financial ratios indicate a current ratio of 0.93, a quick ratio of 0.78, and a debt-to-equity ratio of 0.49.
In addition to its stock performance, Linde announced a quarterly dividend of $1.50 per share, set to be paid on December 17, 2023. Stockholders of record by December 3, 2023, will be eligible for this dividend, which translates to an annualized amount of $6.00 and a dividend yield of 1.4%. The dividend payout ratio currently stands at 40.19%.
Analyst Ratings and Future Projections
Several financial analysts have recently updated their ratings and price targets for Linde. JPMorgan Chase & Co. has reduced its price target from $475.00 to $455.00 while maintaining an “overweight” rating. UBS Group has similarly adjusted its target from $510.00 to $507.00, assigning a “neutral” rating. Citigroup decreased its price target from $535.00 to $520.00, while Royal Bank of Canada lowered its objective from $576.00 to $540.00, both retaining an “outperform” rating.
Sanford C. Bernstein has reiterated an “outperform” rating with a target price of $516.00. Overall, two investment analysts have provided a Strong Buy rating, six have rated the stock as a Buy, and two have assigned a Hold rating, leading to a consensus rating of “Buy” with a target price of $508.83, according to data from MarketBeat.com.
Linde PLC, headquartered in multiple regions including the Americas, Europe, and Asia, operates as an industrial gas company. It produces a range of gases including oxygen, nitrogen, and specialty gases, catering to various industries globally.
