Abbrea Capital LLC Acquires 895 Shares of Praxair, Inc. (PX)

Abbrea Capital LLC increased its position in Praxair, Inc. (NYSE:PX) by 46.6% during the first quarter, Holdings Channel reports. The firm owned 2,814 shares of the basic materials company’s stock after buying an additional 895 shares during the period. Abbrea Capital LLC’s holdings in Praxair were worth $334,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. First National Trust Co. acquired a new stake in shares of Praxair during the first quarter worth $821,000. Marietta Wealth Management LLC increased its stake in shares of Praxair by 22.4% in the first quarter. Marietta Wealth Management LLC now owns 12,405 shares of the basic materials company’s stock worth $1,471,000 after buying an additional 2,274 shares during the last quarter. Egerton Capital UK LLP increased its stake in shares of Praxair by 10.1% in the first quarter. Egerton Capital UK LLP now owns 2,338,087 shares of the basic materials company’s stock worth $277,297,000 after buying an additional 215,399 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Praxair by 75.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 57,625 shares of the basic materials company’s stock worth $6,834,000 after buying an additional 24,853 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. acquired a new stake in shares of Praxair during the first quarter worth $4,151,000. Institutional investors own 85.88% of the company’s stock.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

Praxair, Inc. (NYSE:PX) opened at 136.46 on Tuesday. The stock has a market cap of $38.94 billion, a PE ratio of 25.65 and a beta of 0.94. The company’s 50 day moving average price is $131.38 and its 200 day moving average price is $121.92. Praxair, Inc. has a 12 month low of $106.31 and a 12 month high of $138.69.

Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, April 27th. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.04. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.62 billion. Praxair had a return on equity of 28.42% and a net margin of 14.26%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the business posted $1.28 EPS. Equities analysts forecast that Praxair, Inc. will post $5.47 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, June 7th were paid a $0.7875 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.31%. Praxair’s dividend payout ratio (DPR) is currently 59.10%.

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A number of equities research analysts have weighed in on PX shares. Zacks Investment Research downgraded Praxair from a “hold” rating to a “sell” rating in a report on Monday, April 3rd. Barclays PLC lifted their target price on Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Bank of America Corporation upgraded Praxair from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $150.00 in a report on Wednesday, June 7th. Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a report on Friday, June 2nd. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $156.00 target price (up from $130.00) on shares of Praxair in a report on Sunday, June 11th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $130.77.

Praxair Company Profile

Praxair, Inc is an industrial gas company. 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, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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