Joel Isaacson & Co. LLC maintained its stake in Praxair, Inc. (NYSE:PX) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,029 shares of the basic materials company’s stock at the end of the second quarter. Joel Isaacson & Co. LLC’s holdings in Praxair were worth $269,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of PX. BlackRock Inc. boosted 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 worth $2,092,621,000 after buying an additional 16,839,374 shares during the period. State Street Corp boosted 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 worth $1,639,105,000 after buying an additional 74,856 shares during the period. Bank of New York Mellon Corp boosted 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 worth $1,292,964,000 after buying an additional 48,313 shares during the period. Wellington Management Group LLP boosted 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 worth $900,147,000 after buying an additional 446,016 shares during the period. Finally, Parnassus Investments CA boosted 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 worth $737,895,000 after buying an additional 2,091,079 shares during the period. Institutional investors and hedge funds own 84.86% of the company’s stock.
Shares of Praxair, Inc. (PX) opened at 132.30 on Monday. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The firm has a 50-day moving average price of $132.38 and a 200-day moving average price of $126.00. The stock has a market cap of $37.84 billion, a price-to-earnings ratio of 24.78 and a beta of 0.93.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.03. The firm 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%. Praxair’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.39 earnings per share. Analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be paid a dividend of $0.7875 per share. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.38%. Praxair’s dividend payout ratio (DPR) is 58.88%.
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A number of analysts have recently commented on PX shares. Barclays PLC lifted their target price on Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research raised Praxair from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and set a $162.00 price target on shares of Praxair in a report on Wednesday, June 21st. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $156.00 price target (up previously from $130.00) on shares of Praxair in a report on Sunday, June 11th. Two investment 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. Praxair presently has an average rating of “Hold” and an average price target 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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