Evergreen Capital Management LLC acquired a new position in shares of Praxair, Inc. (NYSE:PX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,686 shares of the basic materials company’s stock, valued at approximately $243,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PX. Honeywell International Inc. raised its position in Praxair by 7.2% in the fourth quarter. Honeywell International Inc. now owns 148,800 shares of the basic materials company’s stock valued at $23,016,000 after purchasing an additional 10,000 shares during the last quarter. Synovus Financial Corp raised its position in Praxair by 4.4% in the fourth quarter. Synovus Financial Corp now owns 37,436 shares of the basic materials company’s stock valued at $5,782,000 after purchasing an additional 1,582 shares during the last quarter. Aevitas Wealth Management Inc. bought a new position in Praxair in the fourth quarter valued at about $162,000. First Republic Investment Management Inc. raised its position in Praxair by 7.3% in the fourth quarter. First Republic Investment Management Inc. now owns 35,002 shares of the basic materials company’s stock valued at $5,414,000 after purchasing an additional 2,384 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in Praxair by 12.4% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 29,516 shares of the basic materials company’s stock valued at $4,566,000 after purchasing an additional 3,246 shares during the last quarter. 85.65% of the stock is currently owned by institutional investors.
Shares of PX traded up $2.27 during mid-day trading on Friday, hitting $158.14. The stock had a trading volume of 1,380,591 shares, compared to its average volume of 1,624,059. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.94 and a quick ratio of 0.77. Praxair, Inc. has a 52 week low of $127.36 and a 52 week high of $166.95. The firm has a market cap of $44.51 billion, a PE ratio of 26.96, a PEG ratio of 2.00 and a beta of 1.08.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, June 7th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 2.09%. The ex-dividend date was Wednesday, June 6th. Praxair’s payout ratio is 56.41%.
A number of equities research analysts have weighed in on the company. Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. ValuEngine raised Praxair from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Citigroup cut their target price on Praxair from $188.00 to $163.00 and set a “buy” rating on the stock in a research report on Tuesday, April 10th. BMO Capital Markets initiated coverage on Praxair in a research report on Tuesday, March 27th. They set a “market perform” rating and a $159.00 target price on the stock. Finally, TheStreet raised Praxair from a “c+” rating to an “a-” rating in a research report on Thursday, April 26th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $174.67.
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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