QS Investors LLC raised its holdings in shares of Praxair, Inc. (NYSE:PX) by 10.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,645 shares of the basic materials company’s stock after purchasing an additional 894 shares during the period. QS Investors LLC’s holdings in Praxair were worth $1,278,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Praxair by 2.6% during the second quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock valued at $2,757,471,000 after purchasing an additional 523,022 shares during the last quarter. BlackRock Inc. increased its stake in Praxair by 2,091.9% during the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after purchasing an additional 16,839,374 shares during the last quarter. State Street Corp increased its stake in Praxair by 0.5% during the first quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock valued at $1,639,105,000 after purchasing an additional 74,856 shares during the last quarter. Wellington Management Group LLP increased its stake in Praxair by 6.2% during the first quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock valued at $900,147,000 after purchasing an additional 446,016 shares during the last quarter. Finally, Egerton Capital UK LLP increased its stake in Praxair by 16.7% during the second quarter. Egerton Capital UK LLP now owns 2,729,517 shares of the basic materials company’s stock valued at $361,797,000 after purchasing an additional 391,430 shares during the last quarter. Hedge funds and other institutional investors own 85.33% of the company’s stock.
Several research firms have weighed in on PX. BidaskClub lowered shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and set a $162.00 price target on shares of Praxair in a report on Wednesday, June 21st. Finally, Susquehanna Bancshares Inc raised shares of Praxair from a “neutral” rating to a “positive” rating and boosted their price target for the company from $131.00 to $155.00 in a report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $138.00.
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Praxair (NYSE:PX) last announced its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the company posted $1.39 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that Praxair, Inc. will post $5.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were paid a $0.7875 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.24%. Praxair’s dividend payout ratio (DPR) is presently 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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