Alerus Financial NA reduced its stake in Praxair, Inc. (NYSE:PX) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,883 shares of the basic materials company’s stock after selling 21 shares during the period. Alerus Financial NA’s holdings in Praxair were worth $250,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Praxair by 2,091.9% during the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after purchasing an additional 16,839,374 shares during the period. Parnassus Investments CA boosted its holdings in shares of Praxair by 48.5% in the 1st quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock worth $737,895,000 after purchasing an additional 2,091,079 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Praxair by 287.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock worth $185,099,000 after purchasing an additional 1,158,100 shares during the period. CI Global Investments Inc. purchased a new position in shares of Praxair in the 1st quarter worth approximately $95,019,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in shares of Praxair in the 1st quarter worth approximately $55,637,000. 85.34% of the stock is currently owned by institutional investors.
PX has been the subject of a number of research analyst reports. Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $162.00 target price (up from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Finally, Susquehanna Bancshares Inc raised Praxair from a “neutral” rating to a “positive” rating and lifted their target price for the company from $131.00 to $155.00 in a research report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Praxair has an average rating of “Hold” and a consensus target price of $138.00.
Praxair, Inc. (NYSE:PX) traded up 0.275% during mid-day trading on Friday, reaching $134.459. The company’s stock had a trading volume of 415,856 shares. The stock’s 50 day moving average is $131.48 and its 200 day moving average is $127.94. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The firm has a market cap of $38.46 billion, a PE ratio of 25.180 and a beta of 0.93.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $1.39 earnings per share. On average, analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be given a $0.7875 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.35%. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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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