Indiana Trust & Investment Management CO bought a new stake in Praxair, Inc. (NYSE:PX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,641 shares of the basic materials company’s stock, valued at approximately $218,000.
A number of other large investors have also bought and sold shares of PX. BlackRock Inc. boosted its stake in shares of Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock worth $2,092,621,000 after buying an additional 16,839,374 shares during the last quarter. Parnassus Investments CA boosted its stake in shares of Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock worth $737,895,000 after buying an additional 2,091,079 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Praxair by 287.7% in the first quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock worth $185,099,000 after buying an additional 1,158,100 shares during the last quarter. CI Global Investments Inc. purchased a new stake in shares of Praxair during the first quarter worth $95,019,000. Finally, MARSHALL WACE ASIA Ltd bought a new position in Praxair during the first quarter valued at approximately $55,637,000. 84.86% of the stock is owned by institutional investors.
Shares of Praxair, Inc. (NYSE:PX) traded up 0.39% on Friday, hitting $132.30. The company had a trading volume of 935,072 shares. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The company has a market cap of $37.84 billion, a price-to-earnings ratio of 24.78 and a beta of 0.93. The company has a 50 day moving average of $132.38 and a 200-day moving average of $126.00.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 earnings per share. On average, analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s dividend payout ratio is currently 58.88%.
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A number of brokerages have issued reports on PX. BidaskClub downgraded Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $162.00 price target on shares of Praxair in a report on Wednesday, June 21st. Bank of America Corporation raised Praxair from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $150.00 in a report on Wednesday, June 7th. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a report on Friday, April 21st. Finally, Barclays PLC boosted their target price on Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average 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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