Marshall & Sullivan Inc. WA boosted its position in Praxair, Inc. (NYSE:PX) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,217 shares of the basic materials company’s stock after buying an additional 1,138 shares during the period. Praxair makes up about 2.6% of Marshall & Sullivan Inc. WA’s portfolio, making the stock its 19th largest position. Marshall & Sullivan Inc. WA’s holdings in Praxair were worth $3,021,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in PX. AQR Capital Management LLC increased its position in shares of Praxair by 5.1% in the fourth quarter. AQR Capital Management LLC now owns 20,360 shares of the basic materials company’s stock worth $2,386,000 after buying an additional 980 shares during the period. Teachers Advisors LLC increased its position in shares of Praxair by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 499,203 shares of the basic materials company’s stock worth $58,502,000 after buying an additional 25,131 shares during the period. Kentucky Retirement Systems acquired a new position in shares of Praxair during the fourth quarter worth about $2,427,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Praxair during the fourth quarter worth about $1,083,000. Finally, Searle & CO. acquired a new position in shares of Praxair during the fourth quarter worth about $250,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.
Praxair, Inc. (NYSE PX) opened at 127.44 on Friday. The firm has a 50-day moving average price of $132.46 and a 200 day moving average price of $125.54. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69. The stock has a market cap of $36.45 billion, a PE ratio of 23.87 and a beta of 0.93.
Praxair (NYSE:PX) last announced its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. Praxair’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.39 earnings per share. Equities analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
A number of equities analysts recently issued reports on the company. Vertical Research raised Praxair to a “hold” rating and upped their price target for the company from $123.00 to $127.00 in a report on Wednesday, June 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price target (up from $140.00) on shares of Praxair in a report on Saturday, June 3rd. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a report on Friday, June 2nd. BidaskClub downgraded Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $135.00.
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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