A number of other brokerages have also recently commented on PX. Zacks Investment Research upgraded Praxair from a sell rating to a hold rating in a research note on Wednesday, August 3rd. Barclays PLC increased their price target on Praxair from $120.00 to $125.00 and gave the company an equal weight rating in a research note on Friday, July 29th. Morgan Stanley started coverage on Praxair in a research note on Tuesday, September 13th. They issued an equal weight rating and a $125.00 price target for the company. Citigroup Inc. increased their price target on Praxair from $120.00 to $123.00 and gave the company a neutral rating in a research note on Friday, July 15th. Finally, TheStreet lowered Praxair from a buy rating to a hold rating in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. Praxair presently has an average rating of Hold and a consensus price target of $118.57.
Praxair (NYSE:PX) traded up 0.04% on Friday, reaching $120.88. The company’s stock had a trading volume of 317,207 shares. The firm’s 50-day moving average price is $119.93 and its 200-day moving average price is $115.60. Praxair has a 52-week low of $95.60 and a 52-week high of $125.00. The stock has a market cap of $34.48 billion, a price-to-earnings ratio of 22.01 and a beta of 0.93.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.39 EPS for the quarter, beating 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 analysts’ expectations of $2.60 billion. During the same period in the prior year, the company earned $1.45 EPS. Praxair’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts expect that Praxair will post $5.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders 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 dividend yield of 2.48%. Praxair’s dividend payout ratio is presently 54.55%.
Several hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. increased its stake in shares of Praxair by 5.8% in the second quarter. Macquarie Group Ltd. now owns 88,954 shares of the company’s stock valued at $9,997,000 after buying an additional 4,840 shares in the last quarter. Williams Jones & Associates LLC increased its stake in shares of Praxair by 1.1% in the second quarter. Williams Jones & Associates LLC now owns 4,800 shares of the company’s stock valued at $539,000 after buying an additional 50 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Praxair during the second quarter valued at approximately $1,295,000. Kentucky Retirement Systems purchased a new stake in shares of Praxair during the second quarter valued at approximately $2,726,000. Finally, Mason Street Advisors LLC purchased a new stake in shares of Praxair during the second quarter valued at approximately $4,318,000. Institutional investors own 83.78% of the company’s stock.
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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