Raymond James Financial Services Advisors Inc. decreased its position in Praxair, Inc. (NYSE:PX) by 8.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,769 shares of the basic materials company’s stock after selling 3,740 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Praxair were worth $5,670,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of PX. Parallel Advisors LLC lifted 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 buying an additional 123 shares during the period. Exane Derivatives acquired a new position in Praxair in the second quarter valued at about $109,000. Tortoise Investment Management LLC lifted 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 buying an additional 31 shares during the period. Sandy Spring Bank lifted 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 buying an additional 200 shares during the period. Finally, Pacific Center for Financial Services lifted 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 buying an additional 356 shares during the period. Institutional investors and hedge funds own 85.33% of the company’s stock.
Praxair, Inc. (NYSE:PX) traded up 0.35% during midday trading on Friday, hitting $142.37. The stock had a trading volume of 63,216 shares. The stock has a market capitalization of $40.72 billion, a price-to-earnings ratio of 26.66 and a beta of 0.95. The company’s 50 day moving average price is $136.45 and its 200-day moving average price is $131.03. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $142.97.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business 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 business earned $1.39 EPS. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were paid a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is currently 58.88%.
PX has been the topic of several analyst reports. 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. BidaskClub lowered Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, KeyCorp reissued a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. Two equities research 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’s stock. Praxair currently has an average rating of “Hold” and an average target price of $138.00.
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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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