CIBC World Market Increases Stake in Linde PLC with New Shares

CIBC World Market Inc. has elevated its investment in Linde PLC (NASDAQ:LIN) by acquiring an additional 1,673 shares during the third quarter of 2023. This move increases CIBC’s total holdings in the industrial gases company by 2.9%, bringing its total ownership to 58,850 shares. According to the firm’s latest disclosure to the Securities and Exchange Commission (SEC), the value of these holdings is approximately $27.95 million.

The trend of institutional investment in Linde continues, as several other hedge funds have also recently adjusted their positions in the company. For instance, Darwin Wealth Management LLC initiated a stake in Linde valued at about $25,000 during the second quarter. Marquette Asset Management LLC followed suit in the third quarter, acquiring shares worth around $27,000. YANKCOM Partnership notably increased its stake by 195.2%, now owning 62 shares valued at approximately $29,000 after purchasing an additional 41 shares. Guerra Advisors Inc. and Albion Financial Group UT also joined the trend, with Albion increasing its holdings by 87.8% during the same period.

Currently, institutional investors and hedge funds collectively hold 82.80% of Linde’s stock, reflecting a strong institutional interest in the company.

Linde’s Stock Performance and Financial Results

As of Thursday, Linde’s stock opened at $467.51. The company boasts a market capitalization of $218.30 billion, a price-to-earnings (PE) ratio of 32.04, and a debt-to-equity ratio of 0.52. Over the past year, Linde’s stock has experienced fluctuations, with a low of $387.78 and a high of $486.38. The company’s 50-day moving average stands at $434.27, while the 200-day moving average is $447.45.

On February 5, 2024, Linde reported its quarterly earnings, posting earnings per share (EPS) of $4.20, exceeding analysts’ expectations of $4.18 by $0.02. The company recorded a net margin of 20.30% and a return on equity of 19.52%. Revenue for the quarter reached $8.76 billion, surpassing the consensus estimate of $8.64 billion. This represents a 6.3% increase compared to the same quarter last year when Linde posted an EPS of $3.97. Looking ahead, Linde has set its guidance for the first quarter of 2026 at an EPS range of 4.200-4.300 and 17.400-17.900 for the full year.

Analysts’ Perspectives on Linde’s Future

Recent analyst reports reflect a mixed but generally positive outlook for Linde. The Royal Bank of Canada adjusted its target price from $540.00 to $490.00 while maintaining an “outperform” rating. CICC Research initiated coverage on Linde with an “outperform” rating and a target price of $510.00. Weiss Ratings reaffirmed a “hold (c+)” rating, while Sanford C. Bernstein reiterated its “outperform” rating with a price target of $516.00. Conversely, JPMorgan Chase & Co. retained a “neutral” rating with a price objective of $455.00.

Overall, one analyst has rated Linde as a Strong Buy, seven have assigned a Buy rating, and three have provided a Hold rating. According to MarketBeat, Linde currently holds an average rating of “Moderate Buy” with a consensus price target of $508.20.

Linde PLC, a leading multinational industrial gases and engineering company, supplies a range of gases and related technologies across various industries. Formed from the merger of Germany’s Linde AG and U.S.-based Praxair in 2018, it is now one of the largest global providers of industrial, specialty, and medical gases. The company’s operations encompass the production, processing, and distribution of atmospheric and process gases, along with the design and construction of necessary facilities and equipment.