Riggs Asset Managment Co. Inc. continued to hold its position in shares of Praxair Inc. (NYSE:PX) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,380 shares of the company’s stock at the end of the second quarter. Riggs Asset Managment Co. Inc.’s holdings in Praxair were worth $155,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall & Sullivan Inc. WA raised its stake in shares of Praxair by 3.7% in the first quarter. Marshall & Sullivan Inc. WA now owns 22,183 shares of the company’s stock worth $2,539,000 after buying an additional 791 shares during the last quarter. Parametric Risk Advisors LLC acquired a new stake in shares of Praxair during the first quarter worth approximately $435,000. Riverhead Capital Management LLC raised its stake in shares of Praxair by 3.6% in the first quarter. Riverhead Capital Management LLC now owns 70,400 shares of the company’s stock worth $8,055,000 after buying an additional 2,414 shares during the last quarter. AXA raised its stake in shares of Praxair by 4.8% in the first quarter. AXA now owns 261,555 shares of the company’s stock worth $29,935,000 after buying an additional 12,040 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in shares of Praxair by 1.7% in the first quarter. Pictet Asset Management Ltd. now owns 165,906 shares of the company’s stock worth $16,888,000 after buying an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 83.76% of the company’s stock.
Praxair Inc. (NYSE:PX) traded up 1.20% during midday trading on Tuesday, reaching $118.49. The company had a trading volume of 726,186 shares. Praxair Inc. has a 1-year low of $95.60 and a 1-year high of $125.00. The company has a market capitalization of $33.80 billion, a P/E ratio of 21.58 and a beta of 0.93. The firm has a 50-day moving average of $119.07 and a 200 day moving average of $116.14.
Praxair (NYSE:PX) last posted its quarterly 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. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the company earned $1.45 EPS. The business’s revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Praxair Inc. will post $5.51 EPS for the current year.
A number of brokerages recently commented on PX. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday. Argus reaffirmed a “hold” rating on shares of Praxair in a research note on Tuesday, August 16th. Credit Agricole SA raised their price target on Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a research note on Friday, July 29th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $140.00 price target on shares of Praxair in a research note on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The stock 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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