Laffer Tengler Investments Increases Stake in Linde PLC by 41%

Laffer Tengler Investments Inc. has significantly increased its holdings in Linde PLC, raising its stake by 41.0% during the second quarter of 2023. According to HoldingsChannel, the institutional investor now owns 1,268 shares of Linde’s stock, following the acquisition of an additional 369 shares in the quarter. As of the end of this reporting period, Laffer Tengler’s total investment in Linde was valued at approximately $595,000.

Multiple hedge funds have also adjusted their positions in Linde recently. Price T Rowe Associates Inc. raised its stake by 5.0% in the first quarter, acquiring an additional 453,108 shares. This brought its total ownership to 9,600,297 shares, valued at about $4.47 billion. Similarly, Wellington Management Group LLP increased its holdings by 18.6%, now owning 7,542,991 shares worth around $3.51 billion.

Other notable investors include Nuveen LLC, which established a new stake valued at $2.1 billion, and Invesco Ltd., which increased its holdings by 1.1%, bringing its total to approximately 3,859,539 shares valued at $1.8 billion. WCM Investment Management LLC also boosted its stake by 1.9% in the second quarter, now owning 3,401,590 shares valued at about $1.58 billion. Overall, institutional investors and hedge funds hold 82.80% of Linde’s stock.

Market Performance and Financial Metrics

Linde’s stock has shown positive movement, opening at $420.51 on Monday, reflecting a 1.2% increase. The company boasts a market capitalization of $196.36 billion, with a PE ratio of 29.91 and a price-to-earnings-growth ratio of 2.85. Its financial health is indicated by a debt-to-equity ratio of 0.49, a current ratio of 0.93, and a quick ratio of 0.78. The stock has fluctuated between a fifty-two week low of $408.65 and a high of $486.38.

In addition to its stock performance, Linde recently announced its quarterly dividend of $1.50, scheduled for payment on December 17, 2023. Investors who are on record by December 3 will receive this dividend, which amounts to an annualized total of $6.00 and a yield of 1.4%. The company’s payout ratio stands at 40.19%.

Analyst Ratings and Market Outlook

Market analysts have issued varied ratings on Linde’s stock. The Royal Bank of Canada has reduced its price target from $576.00 to $540.00, maintaining an “outperform” rating. UBS Group has adjusted its target price from $510.00 to $507.00, reflecting a “neutral” stance. Meanwhile, Sanford C. Bernstein continues to endorse an “outperform” rating with a price target of $516.00.

Weiss Ratings has reaffirmed a “buy” rating, while JPMorgan Chase & Co. lowered their price objective from $475.00 to $455.00 but still classified the stock as “overweight.” Overall, two analysts have assigned a Strong Buy rating, six have recommended a Buy, and two suggest holding the stock. According to MarketBeat, Linde holds an average rating of “Buy” alongside a consensus price target of $508.83.

Linde PLC operates as a leading industrial gas company across regions including the Americas, Europe, the Middle East, Africa, Asia, and the South Pacific. The company provides various atmospheric gases such as oxygen, nitrogen, and argon, as well as process gases including carbon dioxide and hydrogen.

For those interested in tracking Linde’s performance and institutional investments, HoldingsChannel.com offers up-to-date 13F filings and insider trade information.