In a recent transaction, Paula Rosput Reynolds, a director at Linde PLC (NYSE:LIN), acquired 100 ordinary shares of the company, valued at approximately $44,134. The shares were purchased at a price of $441.34 each, near the stock's current trading level of $444.81. This acquisition increased Reynolds' direct ownership to a total of 233 shares. The purchase comes as Linde maintains its 33-year streak of consecutive dividend increases, demonstrating strong financial stability with an InvestingPro Financial Health rating of "GOOD."
In addition to the non-derivative transaction, Reynolds holds 17.104 deferred stock units and 477 restricted stock units, both set to convert to ordinary shares on a one-for-one basis under specific conditions outlined in Linde's plans for non-employee directors. These derivative holdings reflect Reynolds' continued investment in the company's future, which has shown impressive returns over both 5 and 10-year periods. InvestingPro subscribers can access 12 additional key insights about Linde's financial health and market position.
In other recent news, Linde PLC has reported significant changes in its executive leadership and financial performance. John Panikar, the Executive Vice President-APAC, is set to retire in March 2025, with Binod Patwari taking over as Senior Vice President-APAC from November 2024. This transition was disclosed in a recent SEC filing.
In terms of financial performance, Linde reported a 2% increase in sales to $8.4 billion, largely due to project activity and demand for liquefied natural gas infrastructure. The company also secured a substantial $2 billion contract with Dow Chemical (NYSE:DOW), pushing its project backlog to a record high of $10 billion. For Q4 2024, Linde anticipates an earnings per share (EPS) of $3.86 to $3.96, and forecasts a full-year EPS of $15.40 to $15.50, indicating a 9-10% growth.
BMO Capital Markets expressed confidence in Linde by raising its price target for the company to $507 and maintaining its Outperform rating. These recent developments highlight Linde's strategic focus, operational discipline, and commitment to growth and shareholder value.
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