Metropolitan Life Insurance Co. NY reduced its stake in shares of Praxair, Inc. (NYSE:PX) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,146 shares of the basic materials company’s stock after selling 2,292 shares during the period. Metropolitan Life Insurance Co. NY owned 0.05% of Praxair worth $17,926,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Egerton Capital UK LLP increased its stake in Praxair by 10.1% in the first quarter. Egerton Capital UK LLP now owns 2,338,087 shares of the basic materials company’s stock worth $277,297,000 after buying an additional 215,399 shares during the period. Cribstone Capital Management LLC increased its stake in Praxair by 49.3% in the first quarter. Cribstone Capital Management LLC now owns 2,360 shares of the basic materials company’s stock worth $280,000 after buying an additional 779 shares during the period. Searle & CO. purchased a new stake in Praxair during the fourth quarter worth $250,000. Benin Management CORP increased its stake in Praxair by 33.9% in the first quarter. Benin Management CORP now owns 10,570 shares of the basic materials company’s stock worth $1,254,000 after buying an additional 2,675 shares during the period. Finally, Rockland Trust Co. increased its stake in Praxair by 3.1% in the first quarter. Rockland Trust Co. now owns 73,514 shares of the basic materials company’s stock worth $8,719,000 after buying an additional 2,235 shares during the period. 84.86% of the stock is currently owned by institutional investors and hedge funds.
Praxair, Inc. (NYSE:PX) traded up 0.39% during mid-day trading on Friday, reaching $132.30. 935,072 shares of the company’s stock were exchanged. The firm has a market cap of $37.84 billion, a price-to-earnings ratio of 24.78 and a beta of 0.93. Praxair, Inc. has a 12 month low of $114.43 and a 12 month high of $138.69. The stock 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 data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating 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 company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the firm posted $1.39 EPS. Praxair’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current year.
The company also recently disclosed 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. This represents a $3.15 annualized dividend and a yield of 2.38%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is 58.88%.
PX has been the subject of a number of analyst reports. Barclays PLC raised their price target on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. Deutsche Bank AG restated a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 price target for the company in a research note on Monday, July 31st. BidaskClub cut shares of Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 target price on shares of Praxair in a research note on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. 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.
What are top analysts saying about Praxair Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Praxair Inc. and related companies.