Public Sector Pension investment Board reduced its stake in shares of Praxair, Inc. (NYSE:PX) by 82.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,581 shares of the basic materials company’s stock after selling 157,200 shares during the quarter. Public Sector Pension investment Board’s holdings in Praxair were worth $4,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in PX. HPM Partners LLC purchased a new stake in Praxair during the 1st quarter valued at approximately $921,000. Nuance Investments LLC grew its holdings in Praxair by 7.7% during the 1st quarter. Nuance Investments LLC now owns 524,938 shares of the basic materials company’s stock valued at $62,258,000 after buying an additional 37,649 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Praxair by 8.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,758 shares of the basic materials company’s stock valued at $327,000 after buying an additional 216 shares in the last quarter. Davis R M Inc. grew its holdings in Praxair by 2.8% during the 1st quarter. Davis R M Inc. now owns 192,297 shares of the basic materials company’s stock valued at $22,806,000 after buying an additional 5,220 shares in the last quarter. Finally, AKO Capital LLP grew its holdings in Praxair by 23.9% during the 1st quarter. AKO Capital LLP now owns 363,478 shares of the basic materials company’s stock valued at $43,108,000 after buying an additional 70,094 shares in the last quarter. 85.33% of the stock is owned by institutional investors and hedge funds.
Shares of Praxair, Inc. (NYSE:PX) opened at 137.60 on Friday. The company has a market capitalization of $39.36 billion, a P/E ratio of 25.77 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 company has a 50-day moving average price of $131.77 and a 200-day moving average price of $128.42.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 EPS. On average, analysts forecast that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 8th were issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.29%. The ex-dividend date was Wednesday, September 6th. Praxair’s payout ratio is currently 58.88%.
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A number of research analysts have recently commented on the company. BidaskClub upgraded Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Zacks Investment Research downgraded Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Vertical Research upgraded Praxair to a “hold” rating and increased their target price for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Vertical Group upgraded Praxair to a “hold” rating and increased their target price for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target 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.
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