Greystone Investment Management LLC held its position in shares of Praxair Inc. (NYSE:PX) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,380 shares of the company’s stock at the end of the second quarter. Greystone Investment Management LLC’s holdings in Praxair were worth $267,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. PGGM Investments boosted its stake in Praxair by 12.2% in the second quarter. PGGM Investments now owns 493,421 shares of the company’s stock valued at $55,456,000 after buying an additional 53,601 shares during the last quarter. Atlanta Capital Management Co. L L C raised its position in shares of Praxair by 2.9% in the first quarter. Atlanta Capital Management Co. L L C now owns 392,677 shares of the company’s stock worth $44,942,000 after buying an additional 11,120 shares during the period. AMP Capital Investors Ltd raised its position in shares of Praxair by 1.0% in the first quarter. AMP Capital Investors Ltd now owns 79,465 shares of the company’s stock worth $9,140,000 after buying an additional 800 shares during the period. Bank of Montreal Can bought a new position in shares of Praxair during the second quarter worth $34,686,000. Finally, EP Wealth Advisors Inc. bought a new position in shares of Praxair during the first quarter worth $218,000. 83.78% of the stock is owned by institutional investors and hedge funds.
Praxair Inc. (NYSE:PX) traded up 1.15% during midday trading on Wednesday, hitting $118.35. 2,086,596 shares of the stock traded hands. Praxair Inc. has a 1-year low of $95.60 and a 1-year high of $125.00. The stock has a market cap of $33.76 billion, a PE ratio of 21.55 and a beta of 0.90. The company has a 50-day moving average of $119.71 and a 200-day moving average of $115.48.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.60 billion. Praxair had a net margin of 15.09% and a return on equity of 31.66%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 EPS. On average, equities analysts expect that Praxair Inc. will post $5.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $3.00 annualized dividend and a yield of 2.53%. Praxair’s dividend payout ratio is presently 54.55%.
PX has been the topic of a number of research analyst reports. Jefferies Group reiterated a “buy” rating on shares of Praxair in a report on Wednesday, July 6th. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Barclays PLC lifted their price target on shares of Praxair from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. Morgan Stanley initiated coverage on shares of Praxair in a report on Tuesday, September 13th. They issued an “equal weight” rating and a $125.00 price target on the stock. Finally, Citigroup Inc. lifted their price target on shares of Praxair from $120.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price 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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