Congress Asset Management Co. MA reduced its position in shares of Praxair, Inc. (NYSE:PX) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,605 shares of the basic materials company’s stock after selling 225 shares during the period. Congress Asset Management Co. MA’s holdings in Praxair were worth $743,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Carroll Financial Associates Inc. raised its position in shares of Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock valued at $100,000 after buying an additional 120 shares during the last quarter. Sandy Spring Bank raised its position in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after buying an additional 200 shares during the last quarter. Exane Derivatives acquired a new position in shares of Praxair during the second quarter valued at $109,000. Capital Analysts LLC raised its position in shares of Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock valued at $120,000 after buying an additional 65 shares during the last quarter. Finally, V Wealth Management LLC acquired a new position in shares of Praxair during the second quarter valued at $124,000. Institutional investors and hedge funds own 85.53% of the company’s stock.
Praxair, Inc. (NYSE PX) opened at 127.44 on Friday. The firm’s 50-day moving average price is $132.46 and its 200-day moving average price is $125.54. The firm has a market capitalization of $36.45 billion, a PE ratio of 23.87 and a beta of 0.93. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69.
Praxair (NYSE:PX) last announced its quarterly 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. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the company earned $1.39 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities research analysts predict that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The firm also recently declared 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 of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.47%. Praxair’s dividend payout ratio (DPR) is 58.88%.
Several brokerages recently weighed in on PX. Vertical Research upgraded Praxair to a “hold” rating and increased their price objective for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 price objective (up from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. BidaskClub lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price 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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