Bank of Montreal Can purchased a new position in shares of Praxair Inc. (NYSE:PX) during the second quarter, Holdings Channel reports. The firm purchased 308,617 shares of the company’s stock, valued at approximately $34,686,000.
A number of other institutional investors have also recently made changes to their positions in PX. OMERS ADMINISTRATION Corp bought a new stake in shares of Praxair during the first quarter worth about $72,332,000. Locust Wood Capital Advisers LLC bought a new stake in shares of Praxair during the second quarter worth about $46,243,000. 1832 Asset Management L.P. increased its stake in shares of Praxair by 2,936.4% in the first quarter. 1832 Asset Management L.P. now owns 308,495 shares of the company’s stock worth $59,111,000 after buying an additional 298,335 shares during the period. State Street Corp increased its stake in shares of Praxair by 2.4% in the first quarter. State Street Corp now owns 12,545,803 shares of the company’s stock worth $1,435,875,000 after buying an additional 289,196 shares during the period. Finally, Douglas Lane & Associates LLC bought a new stake in shares of Praxair during the first quarter worth about $31,828,000. 83.78% of the stock is owned by institutional investors.
Shares of Praxair Inc. (NYSE:PX) traded down 1.29% during mid-day trading on Friday, reaching $116.84. The company’s stock had a trading volume of 1,558,168 shares. Praxair Inc. has a one year low of $95.60 and a one year high of $125.00. The stock has a 50 day moving average of $119.72 and a 200-day moving average of $115.30. The stock has a market cap of $33.33 billion, a P/E ratio of 21.27 and a beta of 0.90.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 28th. The company reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.03. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the firm posted $1.45 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts expect that Praxair Inc. will post $5.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s dividend payout ratio is presently 54.55%.
A number of equities research analysts have issued reports on the company. Barclays PLC upped their price objective on Praxair from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. Citigroup Inc. reduced their price target on Praxair from $123.00 to $122.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Credit Suisse Group AG reiterated a “hold” rating and issued a $117.00 price target on shares of Praxair in a report on Friday, July 29th. Credit Agricole SA increased their price target on Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $118.57.
Praxair Company Profile
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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