Tredje AP fonden decreased its position in shares of Praxair, Inc. (NYSE:PX) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,963 shares of the basic materials company’s stock after selling 1,390 shares during the quarter. Tredje AP fonden’s holdings in Praxair were worth $4,104,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in PX. BlackRock Inc. increased its stake in shares of Praxair by 2,091.9% in the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after acquiring an additional 16,839,374 shares in the last quarter. Parnassus Investments CA increased its stake in shares of Praxair by 48.5% in the 1st quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after acquiring an additional 2,091,079 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Praxair by 287.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock valued at $185,099,000 after acquiring an additional 1,158,100 shares in the last quarter. CI Global Investments Inc. bought a new stake in shares of Praxair in the 1st quarter valued at $95,019,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of Praxair in the 1st quarter valued at $55,637,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.
Several research firms have recently weighed in on PX. BidaskClub lowered shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Vertical Group raised shares of Praxair to a “hold” rating and lifted their price target for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 price target (up previously from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. J P Morgan Chase & Co reissued an “overweight” rating and issued a $156.00 price target (up previously from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Finally, Vertical Research raised shares of Praxair to a “hold” rating and lifted their price target for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $136.82.
Praxair, Inc. (NYSE:PX) opened at 135.01 on Tuesday. The stock has a market capitalization of $38.62 billion, a P/E ratio of 25.28 and a beta of 0.93. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The firm’s 50-day moving average is $131.46 and its 200-day moving average is $127.67.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the company earned $1.39 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Analysts predict that Praxair, Inc. will post $5.47 EPS 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 given a dividend of $0.7875 per share. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.33%. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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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