PointState Capital LP Invests $76.48 Million in Praxair, Inc. (NYSE:PX) Stock

PointState Capital LP bought a new stake in Praxair, Inc. (NYSE:PX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 577,000 shares of the basic materials company’s stock, valued at approximately $76,481,000. PointState Capital LP owned about 0.20% of Praxair at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PX. Steadfast Capital Management LP bought a new position in Praxair during the 2nd quarter valued at approximately $58,005,000. Green Square Capital LLC raised its position in Praxair by 12.8% during the 2nd quarter. Green Square Capital LLC now owns 3,805 shares of the basic materials company’s stock valued at $504,000 after purchasing an additional 433 shares during the last quarter. Peapack Gladstone Financial Corp raised its position in Praxair by 1.3% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 4,576 shares of the basic materials company’s stock valued at $607,000 after purchasing an additional 58 shares during the last quarter. FTB Advisors Inc. raised its position in Praxair by 2.8% during the 2nd quarter. FTB Advisors Inc. now owns 2,910 shares of the basic materials company’s stock valued at $385,000 after purchasing an additional 79 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Praxair by 26.7% during the 2nd quarter. Janus Henderson Group PLC now owns 122,318 shares of the basic materials company’s stock valued at $16,211,000 after purchasing an additional 25,796 shares during the last quarter. 85.33% of the stock is owned by institutional investors.

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PX has been the subject of a number of recent analyst reports. Zacks Investment Research raised Praxair from a “sell” rating to a “buy” rating and set a $148.00 price target for the company in a research report on Monday, July 31st. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $162.00 price target on shares of Praxair in a research report on Wednesday, June 21st. KeyCorp reaffirmed a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd. Finally, UBS AG raised Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $138.00.

Praxair, Inc. (PX) traded up 0.24% on Friday, hitting $142.21. The company’s stock had a trading volume of 648,686 shares. The firm has a market cap of $40.68 billion, a price-to-earnings ratio of 26.63 and a beta of 0.95. Praxair, Inc. has a 12 month low of $114.43 and a 12 month high of $142.97. The firm has a 50 day moving average of $136.86 and a 200 day moving average of $131.29.

Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. 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 previous year, the firm posted $1.39 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is 58.88%.

Praxair 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.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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