SIR Capital Management L.P. acquired a new stake in shares of Praxair, Inc. (NYSE:PX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 59,600 shares of the basic materials company’s stock, valued at approximately $9,219,000. Praxair makes up 2.0% of SIR Capital Management L.P.’s investment portfolio, making the stock its 22nd biggest holding.
Several other hedge funds also recently made changes to their positions in PX. Cerebellum GP LLC bought a new position in Praxair during the fourth quarter valued at $128,000. Accident Compensation Corp purchased a new stake in shares of Praxair during the third quarter valued at $140,000. San Francisco Sentry Investment Group CA boosted its stake in shares of Praxair by 2,171.1% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,022 shares of the basic materials company’s stock valued at $143,000 after purchasing an additional 977 shares during the period. M&R Capital Management Inc. boosted its stake in shares of Praxair by 366.5% during the fourth quarter. M&R Capital Management Inc. now owns 933 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 733 shares during the period. Finally, Aevitas Wealth Management Inc. purchased a new stake in Praxair in the fourth quarter worth about $162,000. Hedge funds and other institutional investors own 86.20% of the company’s stock.
Several equities analysts recently weighed in on PX shares. SunTrust Banks increased their price target on shares of Praxair to $185.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Barclays upped their price objective on Praxair from $160.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Citigroup restated a “buy” rating and issued a $188.00 price objective on shares of Praxair in a report on Friday, January 26th. Finally, TheStreet downgraded Praxair from an “a-” rating to a “c+” rating in a research note on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $167.50.
Praxair, Inc. (PX) traded down $2.83 on Wednesday, reaching $157.54. The company’s stock had a trading volume of 1,611,350 shares, compared to its average volume of 2,028,777. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.81 and a current ratio of 0.99. Praxair, Inc. has a one year low of $115.67 and a one year high of $166.95. The stock has a market capitalization of $45,500.00, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 2.10 and a beta of 1.06.
Praxair (NYSE:PX) last released its earnings results on Thursday, January 25th. The basic materials company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.04. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $2.85 billion. Praxair had a return on equity of 26.54% and a net margin of 10.90%. equities analysts anticipate that Praxair, Inc. will post 6.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, March 7th will be paid a $0.825 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $3.30 dividend on an annualized basis and a dividend yield of 2.09%. This is a positive change from Praxair’s previous quarterly dividend of $0.79. Praxair’s dividend payout ratio (DPR) is 58.10%.
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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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