Linde (NYSE:LIN) Downgraded to “Sell” at ValuEngine

ValuEngine cut shares of Linde (NYSE:LIN) from a hold rating to a sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

LIN has been the subject of several other reports. BMO Capital Markets raised shares of Linde from a market perform rating to an outperform rating and set a $210.00 target price for the company in a research note on Monday, May 13th. JPMorgan Chase & Co. lifted their price objective on shares of Linde from $189.00 to $206.00 and gave the stock an overweight rating in a research note on Friday, June 7th. Sanford C. Bernstein reissued a sell rating on shares of Linde in a research note on Thursday, July 18th. Societe Generale reissued a buy rating on shares of Linde in a research note on Monday, April 15th. Finally, Barclays lifted their price objective on shares of Linde from $180.00 to $195.00 and gave the stock an equal weight rating in a research note on Tuesday, May 14th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $201.83.

LIN opened at $192.61 on Tuesday. The stock has a market capitalization of $102.86 billion, a PE ratio of 29.54, a price-to-earnings-growth ratio of 2.01 and a beta of 0.76. The company’s fifty day moving average is $200.04. Linde has a fifty-two week low of $145.95 and a fifty-two week high of $206.82. The company has a quick ratio of 1.20, a current ratio of 1.02 and a debt-to-equity ratio of 0.23.

Linde (NYSE:LIN) last posted its earnings results on Friday, May 10th. The basic materials company reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.15. The company had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $7.03 billion. Linde had a net margin of 19.47% and a return on equity of 11.05%. On average, analysts anticipate that Linde will post 7.1 earnings per share for the current year.

In other news, CEO Stephen F. Angel sold 56,574 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $197.27, for a total value of $11,160,352.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christian Bruch bought 1,474 shares of the stock in a transaction dated Wednesday, May 15th. The stock was purchased at an average price of $179.21 per share, with a total value of $264,155.54. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. raised its holdings in shares of Linde by 2.3% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 2,285 shares of the basic materials company’s stock valued at $459,000 after purchasing an additional 51 shares in the last quarter. Enterprise Financial Services Corp grew its position in shares of Linde by 26.0% in the 2nd quarter. Enterprise Financial Services Corp now owns 262 shares of the basic materials company’s stock worth $53,000 after buying an additional 54 shares during the last quarter. MAI Capital Management grew its position in shares of Linde by 4.4% in the 1st quarter. MAI Capital Management now owns 1,388 shares of the basic materials company’s stock worth $244,000 after buying an additional 58 shares during the last quarter. Lee Financial Co grew its position in shares of Linde by 0.9% in the 1st quarter. Lee Financial Co now owns 6,872 shares of the basic materials company’s stock worth $1,209,000 after buying an additional 60 shares during the last quarter. Finally, Insight Wealth Strategies LLC grew its position in shares of Linde by 3.5% in the 1st quarter. Insight Wealth Strategies LLC now owns 1,860 shares of the basic materials company’s stock worth $327,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 73.08% of the company’s stock.

About Linde

Linde plc operates as an industrial gas company in primarily North and South America, Europe, the Middle East, Africa, the Asia Pacific, and South Korea. The company offers oxygen, nitrogen, argon, rare gases, carbon monoxide, carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

Further Reading: How are institutional investors different from individual investors?

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