Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in Praxair, Inc. (NYSE:PX) by 21.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,496 shares of the basic materials company’s stock after selling 11,595 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Praxair were worth $6,078,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. ARGI Investment Services LLC boosted its holdings in shares of Praxair by 0.3% in the first quarter. ARGI Investment Services LLC now owns 2,007 shares of the basic materials company’s stock valued at $238,000 after acquiring an additional 6 shares during the period. Guardian Life Insurance Co. of America boosted its holdings in shares of Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock valued at $131,000 after acquiring an additional 8 shares during the period. Capital Management Corp VA boosted its holdings in shares of Praxair by 0.6% in the second quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 11 shares during the period. Salem Investment Counselors Inc. boosted its holdings in shares of Praxair by 0.5% in the second quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock valued at $321,000 after acquiring an additional 13 shares during the period. Finally, Lcnb Corp boosted its holdings in shares of Praxair by 0.4% in the first quarter. Lcnb Corp now owns 3,892 shares of the basic materials company’s stock valued at $461,000 after acquiring an additional 15 shares during the period. 85.33% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Praxair from a “hold” rating to a “sell” rating in a report on Friday, October 20th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $162.00 price target on shares of Praxair in a report on Friday, October 27th. BidaskClub downgraded Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Citigroup Inc. raised Praxair from a “neutral” rating to a “buy” rating and increased their price target for the stock from $137.00 to $168.00 in a report on Monday. Finally, KeyCorp reaffirmed a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $145.77.
Praxair, Inc. (PX) traded up 0.68% during midday trading on Wednesday, reaching $147.12. The company’s stock had a trading volume of 331,003 shares. The company has a market capitalization of $42.08 billion, a price-to-earnings ratio of 27.55 and a beta of 0.95. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $149.91. The company’s 50-day moving average price is $140.61 and its 200-day moving average price is $133.47.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be given a dividend of $0.7875 per share. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.16%. Praxair’s dividend payout ratio (DPR) is presently 56.05%.
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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