Renaissance Technologies LLC grew its position in Praxair, Inc. (NYSE:PX) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 366,700 shares of the basic materials company’s stock after acquiring an additional 35,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Praxair were worth $56,721,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Greenleaf Trust boosted its holdings in shares of Praxair by 4.5% in the fourth quarter. Greenleaf Trust now owns 8,194 shares of the basic materials company’s stock valued at $1,267,000 after acquiring an additional 351 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Praxair by 6.9% in the fourth quarter. Bessemer Group Inc. now owns 5,489 shares of the basic materials company’s stock valued at $849,000 after acquiring an additional 352 shares during the period. Advisor Partners LLC boosted its holdings in shares of Praxair by 6.5% in the fourth quarter. Advisor Partners LLC now owns 5,839 shares of the basic materials company’s stock valued at $945,000 after acquiring an additional 357 shares during the period. Pennsylvania Trust Co boosted its holdings in shares of Praxair by 1.6% in the fourth quarter. Pennsylvania Trust Co now owns 23,225 shares of the basic materials company’s stock valued at $3,592,000 after acquiring an additional 363 shares during the period. Finally, Guyasuta Investment Advisors Inc. boosted its holdings in shares of Praxair by 0.3% in the third quarter. Guyasuta Investment Advisors Inc. now owns 131,701 shares of the basic materials company’s stock valued at $18,404,000 after acquiring an additional 367 shares during the period. 86.20% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on PX shares. Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Deutsche Bank raised Praxair from a “hold” rating to a “buy” rating and increased their price objective for the company from $155.00 to $175.00 in a report on Tuesday, December 19th. UBS Group increased their price objective on Praxair to $176.00 and gave the company a “buy” rating in a report on Friday, December 15th. SunTrust Banks increased their price objective on Praxair to $185.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, Jefferies Group set a $186.00 price objective on Praxair and gave the company a “buy” rating in a report on Monday, December 11th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $167.50.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, January 25th. The basic materials company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.04. Praxair had a return on equity of 26.54% and a net margin of 10.90%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $2.85 billion. analysts anticipate that Praxair, Inc. will post 6.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, March 7th will be given a $0.825 dividend. This is a boost from Praxair’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $3.30 annualized dividend and a yield of 2.06%. Praxair’s dividend payout ratio is presently 76.39%.
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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