S.E.E.D. Planning Group LLC significantly increased its investment in Linde PLC, raising its stake by 76.1% during the third quarter of 2023. According to the firm’s latest filing with the U.S. Securities and Exchange Commission (SEC), S.E.E.D. now owns 25,107 shares of the industrial gases company after acquiring 10,848 additional shares during the quarter. Linde represents approximately 3.5% of S.E.E.D.’s investment portfolio, making it the firm’s 11th largest holding.
As of the most recent filing, S.E.E.D. Planning Group’s holdings in Linde were valued at about $11.9 million. The investment landscape for Linde has also seen activity from other institutional investors. For instance, Vanguard Group Inc. increased its position in Linde by 0.7% during the second quarter, now holding 44,638,847 shares valued at $20.94 billion. Other notable investors include Norges Bank, which purchased a new position valued at approximately $3.1 billion, and Invesco Ltd., which enhanced its stake by 4.8%.
Analyst Ratings and Market Performance
Analysts have offered varied insights on Linde’s stock performance, with several major firms adjusting their target prices recently. Citigroup reduced its target price from $535.00 to $520.00, maintaining a “buy” rating. Similarly, the Royal Bank of Canada lowered its price objective from $540.00 to $490.00, while Mizuho set a target of $495.00. On the other hand, JPMorgan Chase & Co. adjusted its target to $455.00 with an “overweight” rating. UBS Group reaffirmed a “buy” rating, indicating strong confidence in the company.
Currently, Linde has received two ratings of “Strong Buy” and eight “Buy” ratings from analysts, leading to an average rating of “Buy” with a consensus target price of $501.00.
On October 31, 2023, Linde reported its quarterly earnings, indicating a solid performance with earnings per share (EPS) of $4.21, slightly above the consensus estimate of $4.18. The company achieved a revenue of $8.62 billion, consistent with analyst expectations. Year-over-year, Linde’s revenue increased by 2.9%, compared to the same quarter last year when it reported an EPS of $3.94. The company has provided guidance for its fiscal year 2025, projecting EPS in the range of $16.350 to $16.450.
Linde’s stock opened at $421.43 on the NASDAQ on Monday. The firm has a market capitalization of $196.79 billion and a P/E ratio of 28.23. With a debt-to-equity ratio of 0.46 and a current ratio of 0.82, Linde also shows a stable financial position. Its fifty-two week low and high stand at $387.78 and $486.38, respectively.
Dividend Announcement
In addition to its strong earnings performance, Linde recently declared a quarterly dividend. Shareholders of record as of December 3, 2023, received a dividend of $1.50 per share, with the ex-dividend date also set on December 3. This dividend translates to an annualized payout of $6.00 and represents a yield of 1.4%. Linde’s payout ratio currently stands at 40.19%, reflecting the company’s commitment to returning value to its shareholders.
Linde PLC, a leading multinational industrial gases and engineering company, has established itself as a vital provider of gases and related technologies across various industries. The firm was formed through the 2018 merger of Germany’s Linde AG and U.S.-based Praxair, positioning itself as a key player in the global industrial gases market. Its core offerings include atmospheric and process gases like oxygen, nitrogen, and argon, as well as specialty gases and services critical for numerous sectors.
