Exchange Capital Management Inc. lowered its position in Praxair, Inc. (NYSE:PX) by 16.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,664 shares of the basic materials company’s stock after selling 936 shares during the period. Exchange Capital Management Inc.’s holdings in Praxair were worth $618,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Sandy Spring Bank boosted its position in Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. Exane Derivatives bought a new position in Praxair during the second quarter worth about $109,000. Capital Analysts LLC boosted its position in Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares in the last quarter. V Wealth Management LLC bought a new position in Praxair during the second quarter worth about $124,000. Finally, Guardian Life Insurance Co. of America boosted its position in Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock worth $131,000 after buying an additional 8 shares in the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.
Shares of Praxair, Inc. (NYSE PX) opened at 131.47 on Wednesday. The company has a market capitalization of $37.60 billion, a price-to-earnings ratio of 24.62 and a beta of 0.93. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69. The stock has a 50 day moving average of $132.37 and a 200-day moving average of $125.81.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 EPS. Analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, September 6th. Praxair’s payout ratio is currently 58.88%.
A number of research firms recently issued reports on PX. Vertical Research upgraded shares of Praxair to a “hold” rating and upped their price objective for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Jefferies Group LLC restated a “buy” rating and issued a $162.00 price target (up from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Deutsche Bank AG restated a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. BidaskClub cut shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research cut shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. 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’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $135.00.
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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