First National Trust Co. lifted its position in shares of Praxair, Inc. (NYSE:PX) by 22.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,456 shares of the basic materials company’s stock after acquiring an additional 1,537 shares during the period. First National Trust Co.’s holdings in Praxair were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. MUFG Americas Holdings Corp increased its position in Praxair by 17.7% during the 2nd quarter. MUFG Americas Holdings Corp now owns 52,183 shares of the basic materials company’s stock worth $6,917,000 after purchasing an additional 7,848 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Praxair by 11.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 891,679 shares of the basic materials company’s stock valued at $118,192,000 after acquiring an additional 94,832 shares during the period. GAM Holding AG increased its position in Praxair by 10.9% in the 2nd quarter. GAM Holding AG now owns 10,733 shares of the basic materials company’s stock valued at $1,423,000 after acquiring an additional 1,055 shares during the period. Virginia Retirement Systems ET AL increased its position in Praxair by 3.7% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 19,600 shares of the basic materials company’s stock valued at $2,598,000 after acquiring an additional 700 shares during the period. Finally, One Capital Management LLC increased its position in Praxair by 1.1% in the 2nd quarter. One Capital Management LLC now owns 16,170 shares of the basic materials company’s stock valued at $2,143,000 after acquiring an additional 174 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.
Shares of Praxair, Inc. (NYSE PX) traded up 0.10% during midday trading on Friday, hitting $134.22. 1,840,131 shares of the stock were exchanged. The firm’s 50-day moving average is $131.52 and its 200 day moving average is $128.05. The firm has a market cap of $38.39 billion, a PE ratio of 25.13 and a beta of 0.93. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 27.93% and a net margin of 14.10%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 EPS. On average, analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be issued a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.35%. Praxair’s dividend payout ratio is currently 58.88%.
WARNING: This article was originally reported by BBNS and is owned by of BBNS. If you are accessing this article on another publication, it was illegally copied and republished in violation of US & international copyright & trademark law. The original version of this article can be viewed at https://baseballnewssource.com/markets/praxair-inc-px-stake-raised-by-first-national-trust-co/1566925.html.
Several research analysts recently issued reports on the stock. BidaskClub raised shares of Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Zacks Investment Research downgraded shares of Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Vertical Research upgraded shares of Praxair to a “hold” rating and raised their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Finally, Vertical Group upgraded shares of Praxair to a “hold” rating and raised their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. Praxair currently has a consensus rating of “Hold” and an average target price of $138.00.
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.
Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with our FREE daily email newsletter.