Sheaff Brock Investment Advisors LLC grew its position in Praxair, Inc. (NYSE:PX) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,897 shares of the basic materials company’s stock after acquiring an additional 1 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Praxair were worth $251,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in PX. Sandy Spring Bank boosted its holdings in shares of Praxair by 31.2% during the 1st quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Praxair by 19.1% during the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after buying an additional 123 shares during the period. Exane Derivatives bought a new stake in shares of Praxair during the 2nd quarter worth about $109,000. Tortoise Investment Management LLC boosted its holdings in shares of Praxair by 3.9% during the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after buying an additional 31 shares during the period. Finally, Capital Analysts LLC boosted its holdings in shares of Praxair by 6.8% during the 1st 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 during the period. 85.34% of the stock is owned by institutional investors.
PX has been the subject of several research analyst reports. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $162.00 target price (up previously from $140.00) on shares of Praxair in a report on Saturday, June 3rd. Vertical Group raised shares of Praxair to a “hold” rating and lifted their target price for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Bank of America Corporation raised shares of Praxair from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $150.00 in a report on Wednesday, June 7th. Finally, Vertical Research raised shares of Praxair to a “hold” rating and lifted their target price for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $136.82.
Shares of Praxair, Inc. (NYSE:PX) opened at 134.82 on Wednesday. The firm has a 50-day moving average of $131.57 and a 200-day moving average of $127.72. The company has a market cap of $38.56 billion, a P/E ratio of 25.25 and a beta of 0.93. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $2.83 billion during 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%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. Analysts predict that Praxair, Inc. will post $5.47 EPS for the current year.
The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.34%. Praxair’s dividend payout ratio 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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