Investors purchased shares of Praxair, Inc. (NYSE:PX) on weakness during trading hours on Friday. $87.32 million flowed into the stock on the tick-up and $54.04 million flowed out of the stock on the tick-down, for a money net flow of $33.28 million into the stock. Of all companies tracked, Praxair had the 17th highest net in-flow for the day. Praxair traded down ($1.46) for the day and closed at $148.14
Several brokerages have recently issued reports on PX. UBS AG raised their target price on shares of Praxair from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Friday. Barclays PLC raised their target price on shares of Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $162.00 target price on shares of Praxair in a research note on Friday. Zacks Investment Research lowered shares of Praxair from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price on shares of Praxair in a research note on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. Praxair currently has a consensus rating of “Hold” and an average price target of $143.92.
The stock has a market cap of $42.37 billion, a price-to-earnings ratio of 27.74 and a beta of 0.95. The firm has a 50-day moving average of $139.88 and a 200-day moving average of $132.96.
Praxair (NYSE:PX) last announced its earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s payout ratio is presently 56.05%.
A number of hedge funds have recently made changes to their positions in PX. BlackRock Inc. boosted its holdings in Praxair by 2,091.9% in 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 acquiring an additional 16,839,374 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Praxair by 287.7% in the first quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock valued at $185,099,000 after acquiring an additional 1,158,100 shares during the last quarter. CI Global Investments Inc. boosted its holdings in Praxair by 141.4% in the second quarter. CI Global Investments Inc. now owns 1,933,777 shares of the basic materials company’s stock valued at $256,322,000 after acquiring an additional 1,132,606 shares during the last quarter. Capital World Investors boosted its holdings in Praxair by 4.3% in the second quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock valued at $2,297,403,000 after acquiring an additional 716,835 shares during the last quarter. Finally, PointState Capital LP bought a new stake in Praxair in the second quarter valued at approximately $76,481,000. Institutional investors and hedge funds own 85.28% of the company’s stock.
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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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