Whittier Trust Co. increased its stake in Praxair, Inc. (NYSE:PX) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,123 shares of the basic materials company’s stock after buying an additional 1,079 shares during the period. Whittier Trust Co.’s holdings in Praxair were worth $13,668,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PX. Raymond James Trust N.A. raised its position in shares of Praxair by 4.7% in the first quarter. Raymond James Trust N.A. now owns 14,663 shares of the basic materials company’s stock valued at $1,740,000 after buying an additional 652 shares during the period. Catawba Capital Management VA raised its position in shares of Praxair by 0.8% in the first quarter. Catawba Capital Management VA now owns 9,647 shares of the basic materials company’s stock valued at $1,144,000 after buying an additional 75 shares during the period. Confluence Investment Management LLC raised its position in shares of Praxair by 11.2% in the first quarter. Confluence Investment Management LLC now owns 666,303 shares of the basic materials company’s stock valued at $79,023,000 after buying an additional 66,931 shares during the period. Manning & Napier Advisors LLC raised its position in shares of Praxair by 4.5% in the first quarter. Manning & Napier Advisors LLC now owns 46,123 shares of the basic materials company’s stock valued at $5,469,000 after buying an additional 2,005 shares during the period. Finally, CENTRAL TRUST Co raised its position in shares of Praxair by 1.6% in the first quarter. CENTRAL TRUST Co now owns 7,537 shares of the basic materials company’s stock valued at $894,000 after buying an additional 116 shares during the period. Institutional investors own 85.53% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) opened at 128.58 on Wednesday. The company has a market cap of $36.78 billion, a P/E ratio of 24.08 and a beta of 0.93. The stock’s 50 day moving average is $133.31 and its 200 day moving average is $125.12. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69.
Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 EPS. On average, analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.7875 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.45%. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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Several brokerages have issued reports on PX. Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub lowered Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Jefferies Group LLC restated a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Wednesday, June 21st. J P Morgan Chase & Co restated an “overweight” rating and set a $156.00 target price (up previously from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Finally, Vertical Research upgraded Praxair to a “hold” rating and boosted their target price for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average 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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