HL Financial Services LLC raised its stake in shares of Praxair Inc. (NYSE:PX) by 4.2% during the second quarter, Holdings Channel reports. The firm owned 2,890 shares of the company’s stock after buying an additional 116 shares during the period. HL Financial Services LLC’s holdings in Praxair were worth $325,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Carnick & Kubik LLC acquired a new stake in Praxair during the first quarter valued at approximately $109,000. High Point Bank & Trust Co. boosted its stake in shares of Praxair by 25.0% in the second quarter. High Point Bank & Trust Co. now owns 1,250 shares of the company’s stock worth $140,000 after buying an additional 250 shares during the last quarter. Cribstone Capital Management LLC purchased a new stake in shares of Praxair during the second quarter worth about $181,000. Tompkins Financial Corp boosted its stake in shares of Praxair by 183.9% in the second quarter. Tompkins Financial Corp now owns 1,706 shares of the company’s stock worth $192,000 after buying an additional 1,105 shares during the last quarter. Finally, Capital Management Corp VA boosted its stake in shares of Praxair by 0.7% in the second quarter. Capital Management Corp VA now owns 1,815 shares of the company’s stock worth $204,000 after buying an additional 12 shares during the last quarter. Institutional investors own 83.78% of the company’s stock.
Praxair Inc. (NYSE:PX) traded up 1.66% during midday trading on Friday, hitting $120.83. The company had a trading volume of 1,698,281 shares. The company’s 50 day moving average is $119.93 and its 200-day moving average is $115.60. Praxair Inc. has a one year low of $95.60 and a one year high of $125.00. The company has a market cap of $34.46 billion, a P/E ratio of 22.00 and a beta of 0.90.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.39 earnings per share for the quarter, topping the Zacks’ 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 company earned $2.70 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the business earned $1.45 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts predict that Praxair Inc. will post $5.51 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 8th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Tuesday, September 6th. Praxair’s dividend payout ratio (DPR) is presently 54.55%.
A number of brokerages have recently issued reports on PX. Credit Suisse Group AG reiterated a “hold” rating and set a $117.00 target price on shares of Praxair in a report on Friday, July 29th. Credit Agricole SA boosted their target price on Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. TheStreet upgraded Praxair from a “hold” rating to a “buy” rating in a report on Thursday, June 23rd. Jefferies Group reiterated a “buy” rating and set a $140.00 target price on shares of Praxair in a report on Tuesday, August 16th. Finally, Morgan Stanley reiterated a “hold” rating and set a $100.00 target price on shares of Praxair in a report on Thursday, June 16th. One equities research 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 an average price target of $118.57.
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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