Gamble Jones Investment Counsel raised its stake in Praxair, Inc. (NYSE:PX) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,879 shares of the basic materials company’s stock after buying an additional 33 shares during the period. Gamble Jones Investment Counsel’s holdings in Praxair were worth $2,502,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares during the last quarter. State Street Corp increased its stake in Praxair by 0.5% in the first quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock valued at $1,639,105,000 after buying an additional 74,856 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Praxair by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 10,901,896 shares of the basic materials company’s stock valued at $1,292,964,000 after buying an additional 48,313 shares during the last quarter. Wellington Management Group LLP increased its stake in Praxair by 6.2% in the first quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock valued at $900,147,000 after buying an additional 446,016 shares during the last quarter. Finally, Parnassus Investments CA increased its stake in Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares during the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.
Shares of Praxair, Inc. (PX) opened at 133.59 on Thursday. The stock’s 50 day moving average price is $132.41 and its 200-day moving average price is $125.86. The stock has a market cap of $38.21 billion, a price-to-earnings ratio of 25.02 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 results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The firm 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 firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. Equities analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid 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 2.36%. Praxair’s dividend payout ratio (DPR) is currently 58.88%.
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Several analysts recently weighed in on PX shares. BidaskClub downgraded Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC restated a “buy” rating and issued a $162.00 price objective on shares of Praxair in a report on Wednesday, June 21st. Bank of America Corporation upgraded Praxair from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $150.00 in a report on Wednesday, June 7th. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $134.00 price objective for the company in a report on Friday, April 21st. Finally, Barclays PLC lifted their price objective on Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given 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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