Mar Vista Investment Partners LLC increased its position in shares of Praxair Inc. (NYSE:PX) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,046 shares of the company’s stock after buying an additional 898 shares during the period. Praxair comprises about 0.8% of Mar Vista Investment Partners LLC’s portfolio, making the stock its 27th largest position. Mar Vista Investment Partners LLC’s holdings in Praxair were worth $14,054,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Carnick & Kubik LLC purchased a new position in shares of Praxair during the first quarter worth about $109,000. Quadrant Capital Group LLC boosted its position in shares of Praxair by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,168 shares of the company’s stock worth $126,000 after buying an additional 11 shares during the last quarter. High Point Bank & Trust Co. boosted its position 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. Advisory Services Network LLC boosted its position in shares of Praxair by 23.5% in the second quarter. Advisory Services Network LLC now owns 1,383 shares of the company’s stock worth $155,000 after buying an additional 263 shares during the last quarter. Finally, Cribstone Capital Management LLC purchased a new position in shares of Praxair during the second quarter worth about $181,000. 83.78% of the stock is currently owned by institutional investors and hedge funds.
Praxair Inc. (NYSE:PX) remained flat at $120.36 on Wednesday. The company had a trading volume of 918,071 shares. The company has a market cap of $34.33 billion, a P/E ratio of 21.92 and a beta of 0.93. Praxair Inc. has a 12-month low of $95.60 and a 12-month high of $125.00. The company’s 50-day moving average price is $120.13 and its 200-day moving average price is $115.80.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The company earned $2.70 billion during the quarter, compared to the consensus estimate of $2.60 billion. Praxair had a return on equity of 31.66% and a net margin of 15.09%. Praxair’s revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.45 earnings per share. On average, equities research analysts anticipate that Praxair Inc. will post $5.51 EPS for the current fiscal 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. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Tuesday, September 6th. Praxair’s dividend payout ratio is currently 54.55%.
A number of brokerages recently issued reports on PX. TheStreet upgraded shares of Praxair from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Jefferies Group restated a “buy” rating and set a $140.00 target price on shares of Praxair in a research note on Tuesday, August 16th. Zacks Investment Research cut shares of Praxair from a “hold” rating to a “sell” rating in a research note on Monday. Morgan Stanley began coverage on shares of Praxair in a research note on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 target price on the stock. Finally, Citigroup Inc. upped their target price 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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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