Harvey Investment Co. LLC boosted its stake in Praxair Inc. (NYSE:PX) by 2.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,051 shares of the company’s stock after buying an additional 135 shares during the period. Harvey Investment Co. LLC’s holdings in Praxair were worth $792,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. PGGM Investments raised its position in Praxair by 12.2% in the second quarter. PGGM Investments now owns 493,421 shares of the company’s stock worth $55,456,000 after buying an additional 53,601 shares in the last quarter. Bank of Montreal Can bought a new position in Praxair during the second quarter worth approximately $34,686,000. Atlanta Capital Management Co. L L C raised its position in 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 in the last quarter. AMP Capital Investors Ltd raised its position in 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 in the last quarter. Finally, EP Wealth Advisors Inc. bought a new position in Praxair during the first quarter worth approximately $218,000. Institutional investors own 83.78% of the company’s stock.
Shares of Praxair Inc. (NYSE:PX) traded down 0.03% on Wednesday, reaching $120.32. The company’s stock had a trading volume of 615,094 shares. The company has a market cap of $34.32 billion, a price-to-earnings ratio of 21.91 and a beta of 0.93. The stock has a 50-day moving average of $120.13 and a 200 day moving average of $115.80. Praxair Inc. has a 52-week low of $95.60 and a 52-week high of $125.00.
Praxair (NYSE:PX) last issued its quarterly earnings data 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. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.60 billion. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $1.45 EPS. On average, equities research analysts forecast that Praxair Inc. will post $5.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 8th were given a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.49%. Praxair’s dividend payout ratio is currently 54.55%.
Several brokerages have issued reports on PX. Jefferies Group reissued a “buy” rating and issued a $135.00 price target on shares of Praxair in a research note on Wednesday, June 15th. TheStreet raised Praxair from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd. Barclays PLC boosted 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 began coverage on Praxair in a research note on Tuesday, September 13th. They issued an “equal weight” rating and a $125.00 price target on the stock. Finally, Argus reissued a “hold” rating on shares of Praxair in a research note on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Praxair currently 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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