Texan Capital Management increased its stake in Praxair, Inc. (NYSE:PX) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,817 shares of the basic materials company’s stock after buying an additional 105 shares during the period. Texan Capital Management’s holdings in Praxair were worth $904,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PX. Egerton Capital UK LLP raised its position 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 valued at $277,297,000 after buying an additional 215,399 shares during the period. Cribstone Capital Management LLC raised its stake in Praxair by 49.3% in the first quarter. Cribstone Capital Management LLC now owns 2,360 shares of the basic materials company’s stock valued at $280,000 after buying an additional 779 shares during the last quarter. Benin Management CORP raised its stake in Praxair by 33.9% in the first quarter. Benin Management CORP now owns 10,570 shares of the basic materials company’s stock valued at $1,254,000 after buying an additional 2,675 shares during the last quarter. Rockland Trust Co. raised its stake in Praxair by 3.1% in the first quarter. Rockland Trust Co. now owns 73,514 shares of the basic materials company’s stock valued at $8,719,000 after buying an additional 2,235 shares during the last quarter. Finally, Elkhorn Investments LLC acquired a new stake in Praxair during the first quarter valued at about $1,095,000. 85.53% of the stock is owned by hedge funds and other institutional investors.
Praxair, Inc. (NYSE:PX) traded down 0.36% on Thursday, hitting $128.40. 235,896 shares of the stock were exchanged. The stock has a market cap of $36.73 billion, a PE ratio of 24.04 and a beta of 0.93. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69. The company’s 50 day moving average is $132.75 and its 200 day moving average is $125.45.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the firm posted $1.39 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is currently 58.88%.
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PX has been the subject of several recent research reports. Barclays PLC increased their price objective on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. Deutsche Bank AG restated a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 target price for the company in a research note on Monday, July 31st. BidaskClub downgraded shares of Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $150.00 in a research note on Wednesday, June 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $135.00.
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.
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