Stellar Capital Management LLC lifted its position in Praxair, Inc. (NYSE:PX) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,661 shares of the basic materials company’s stock after purchasing an additional 744 shares during the quarter. Praxair comprises approximately 1.8% of Stellar Capital Management LLC’s portfolio, making the stock its 25th largest holding. Stellar Capital Management LLC’s holdings in Praxair were worth $2,474,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PX. Sandy Spring Bank increased its stake in 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 acquiring an additional 200 shares during the last quarter. Parallel Advisors LLC increased its stake in Praxair by 19.1% in the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 123 shares during the last quarter. Exane Derivatives bought a new position in Praxair in the second quarter valued at $109,000. Tortoise Investment Management LLC increased its stake in Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after acquiring an additional 31 shares during the last quarter. Finally, Pacific Center for Financial Services increased its stake in Praxair by 65.7% in the second quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 356 shares during the last quarter. 85.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the company. BidaskClub raised Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 target price on shares of Praxair in a research note on Wednesday, June 21st. KeyCorp reissued a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. Finally, UBS AG raised Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Praxair has a consensus rating of “Hold” and an average price target of $138.00.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.03. The company 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 firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 EPS. Equities research analysts expect that Praxair, Inc. will post $5.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 8th were given a $0.7875 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.24%. Praxair’s dividend payout ratio (DPR) is 58.88%.
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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