Is Linde plc (LIN) an Inflation-Proof Stock?

ClearBridge Investments, an investment management company, released its “ClearBridge Dividend Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed the S&P 500 benchmark index. Only the materials sector contributed positively to the strategy’s performance among the 11 sectors. IT and communication services sectors were the major detractors in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like Linde plc (NYSE:LIN) in the Q3 2022 investor letter. Headquartered in Woking, the United Kingdom, Linde plc (NYSE:LIN) is an industrial gas and engineering company. On November 4, 2022, Linde plc (NYSE:LIN) stock closed at $308.93 per share. One-month return of Linde plc (NYSE:LIN) was 13.08% and its shares lost 6.95% of their value over the last 52 weeks. Linde plc (NYSE:LIN) has a market capitalization of $152.729 billion.

ClearBridge Investments made the following comment about Linde plc (NYSE:LIN) in its Q3 2022 investor letter:

“Seeing better opportunities elsewhere in the materials sector, we exited our position in Ecolab and added to copper producer Freeport-McMoRan (FCX), which supplies a much-needed resource for the energy transition, and specialty chemical company Linde plc (NYSE:LIN), which has historically held onto pricing gains it has achieved following increases in energy costs. We think this pricing power should protect profitability during the acute inflationary phase and potentially lead to margin expansion when cost pressures abate. Linde also continues to be well-positioned on hydrogen and carbon capture with contract-backed project capex likely accelerating in the medium term as the recently passed Inflation Reduction Act rolls out.”

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Linde plc (NYSE:LIN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Linde plc (NYSE:LIN) at the end of the second quarter, which was 54 in the previous quarter.

We discussed Linde plc (NYSE:LIN) in another article and shared the list of best rebound stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.