S.E.E.D. Planning Group LLC has significantly increased its investment in Linde PLC, raising its stake by 76.1% during the third quarter of 2023. This strategic move was detailed in a recent filing with the U.S. Securities and Exchange Commission (SEC). S.E.E.D. now holds 25,107 shares of Linde, having acquired an additional 10,848 shares during the quarter. Linde represents approximately 3.5% of S.E.E.D.’s total portfolio, making it the firm’s 11th largest holding, valued at about $11,926,000.
The increase in holdings comes amid a broader trend of institutional investors adjusting their positions in Linde. Notably, Vanguard Group Inc. enhanced its stake by 0.7% in the previous quarter, now owning 44,638,847 shares worth approximately $20.9 billion. Other significant investors, such as Norges Bank, which established a new position valued at around $3.1 billion, and Invesco Ltd., which boosted its holdings by 4.8%, have also contributed to the shifting landscape of Linde’s stock ownership. Currently, institutional investors and hedge funds collectively own 82.80% of Linde’s shares.
Analysts are closely monitoring Linde’s stock performance and outlook. Several equity research firms have recently issued updated ratings and target prices. For instance, Citigroup revised its target from $535.00 to $520.00, maintaining a “buy” rating. Similarly, Mizuho set a price objective of $495.00, while Royal Bank of Canada lowered its target from $540.00 to $490.00 but kept an “outperform” rating. The consensus among analysts is a strong buy, with an average target price of $501.00.
Recent Performance and Financial Outlook
Linde’s stock opened at $421.43 on the NASDAQ on Monday. The company has a market capitalization of $196.79 billion and key financial ratios indicating robust health: a debt-to-equity ratio of 0.46, a quick ratio of 0.69, and a current ratio of 0.82. The stock has fluctuated between a fifty-two week low of $387.78 and a high of $486.38.
In its latest quarterly earnings report released on October 31, 2023, Linde reported earnings per share (EPS) of $4.21, slightly exceeding analyst expectations of $4.18. The company also recorded revenue of $8.62 billion, consistent with forecasts. Year-over-year, Linde’s revenue increased by 2.9%, up from $3.94 EPS in the same quarter last year. Looking ahead, Linde has projected its fiscal year 2025 EPS guidance to fall between $16.350 and $16.450, with a Q4 2025 EPS guidance of $4.100 to $4.200.
Dividend Announcement and Company Profile
In addition to its strong earnings report, Linde recently announced a quarterly dividend of $1.50 per share, which was paid on December 17, 2023. This dividend represents an annual yield of 1.4%, with a payout ratio of 40.19%. Shareholders of record as of December 3, 2023 were eligible for this payout.
Linde PLC operates as a multinational industrial gases and engineering company, providing a range of gases and related technologies across various industries. The company’s current form results from the 2018 merger between Germany’s Linde AG and U.S.-based Praxair. Linde focuses on the production, processing, and distribution of industrial gases, including oxygen, nitrogen, argon, hydrogen, and specialty gases.
As Linde continues to bolster its market position and adapt to changing investor sentiments, stakeholders will closely watch the company’s performance and strategic moves in the coming quarters.
