Dividend Assets Capital LLC decreased its stake in shares of Praxair Inc. (NYSE:PX) by 5.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,100 shares of the company’s stock after selling 615 shares during the period. Dividend Assets Capital LLC’s holdings in Praxair were worth $1,248,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. acquired a new position in shares of Praxair during the first quarter valued at about $713,000. Alexandria Capital LLC raised its position in shares of Praxair by 124.7% in the first quarter. Alexandria Capital LLC now owns 38,928 shares of the company’s stock valued at $4,455,000 after buying an additional 21,606 shares during the period. Nisa Investment Advisors L.L.C. raised its position in shares of Praxair by 3.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 95,064 shares of the company’s stock valued at $10,880,000 after buying an additional 3,550 shares during the period. Virginia Retirement System acquired a new position in shares of Praxair during the first quarter valued at about $2,692,000. Finally, Tiemann Investment Advisors LLC acquired a new position in shares of Praxair during the first quarter valued at about $205,000. Institutional investors and hedge funds own 83.78% of the company’s stock.
Shares of Praxair Inc. (NYSE:PX) traded up 0.43% during trading on Thursday, hitting $118.86. The stock had a trading volume of 1,648,497 shares. The stock’s 50 day moving average price is $119.82 and its 200-day moving average price is $115.52. The stock has a market cap of $33.90 billion, a P/E ratio of 21.64 and a beta of 0.90. Praxair Inc. has a one year low of $95.60 and a one year high of $125.00.
Praxair (NYSE:PX) last announced its earnings results on Thursday, July 28th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company earned $2.70 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Praxair had a net margin of 15.09% and a return on equity of 31.66%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.45 earnings per share. Analysts expect that Praxair Inc. will post $5.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s payout ratio is currently 54.55%.
Several research analysts have issued reports on PX shares. Jefferies Group restated a “buy” rating and set a $135.00 target price on shares of Praxair in a research report on Wednesday, June 15th. Morgan Stanley restated a “hold” rating and set a $100.00 target price on shares of Praxair in a research report on Thursday, June 16th. TheStreet raised shares of Praxair from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd. 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 research note on Friday, July 15th. Finally, 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 research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus 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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