Public Employees Retirement Association of Colorado cut its position in Praxair, Inc. (NYSE:PX) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 212,700 shares of the basic materials company’s stock after selling 3,188 shares during the period. Public Employees Retirement Association of Colorado owned about 0.07% of Praxair worth $29,723,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PX. Parallel Advisors LLC raised its holdings in shares of Praxair by 19.1% during the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 123 shares during the period. Kistler Tiffany Companies LLC raised its holdings in shares of Praxair by 149.8% during the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 430 shares during the period. BB&T Investment Services Inc. acquired a new stake in shares of Praxair during the second quarter worth $106,000. Exane Derivatives acquired a new stake in shares of Praxair during the second quarter worth $109,000. Finally, Tortoise Investment Management LLC raised its holdings in shares of Praxair by 3.9% during the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 31 shares during the period. Institutional investors own 85.33% of the company’s stock.
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. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.41 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors 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 annualized dividend and a yield of 2.16%. Praxair’s payout ratio is currently 56.05%.
PX has been the topic of a number of research analyst reports. Susquehanna Bancshares Inc upgraded shares of Praxair from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $131.00 to $155.00 in a report on Thursday, September 7th. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. UBS AG upgraded shares of Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. KeyCorp reiterated a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. Finally, BidaskClub upgraded shares of Praxair from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $145.77.
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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