Quest Investment Management LLC bought a new stake in Praxair, Inc. (NYSE:PX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,180 shares of the basic materials company’s stock, valued at approximately $733,000.
Several other hedge funds and other institutional investors have also made changes to their positions in PX. ARGI Investment Services LLC raised its stake in Praxair by 0.3% in the first quarter. ARGI Investment Services LLC now owns 2,007 shares of the basic materials company’s stock valued at $238,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock valued at $131,000 after buying an additional 8 shares in the last quarter. Capital Management Corp VA raised its stake in Praxair by 0.7% in the first quarter. Capital Management Corp VA now owns 1,860 shares of the basic materials company’s stock valued at $221,000 after buying an additional 13 shares in the last quarter. Lcnb Corp raised its stake in Praxair by 0.4% in the first quarter. Lcnb Corp now owns 3,892 shares of the basic materials company’s stock valued at $461,000 after buying an additional 15 shares in the last quarter. Finally, Birch Hill Investment Advisors LLC raised its stake in Praxair by 0.5% in the first quarter. Birch Hill Investment Advisors LLC now owns 4,154 shares of the basic materials company’s stock valued at $493,000 after buying an additional 20 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.
Shares of Praxair, Inc. (PX) traded down 0.14% during trading on Friday, hitting $127.44. 582,993 shares of the stock were exchanged. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 23.87 and a beta of 0.93. The stock’s 50 day moving average price is $132.60 and its 200 day moving average price is $125.47.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the business earned $1.39 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be issued a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.47%. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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PX has been the topic of several analyst reports. BidaskClub lowered shares of Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 price target on shares of Praxair in a research report on Wednesday, June 21st. Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, June 7th. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a research report on Friday, April 21st. Finally, Barclays PLC raised their target price on shares of Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Praxair currently has a consensus rating of “Hold” and a consensus 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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