Ostrum Asset Management reduced its position in Praxair, Inc. (NYSE:PX) by 56.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 5,836 shares of the basic materials company’s stock after selling 7,504 shares during the period. Ostrum Asset Management’s holdings in Praxair were worth $842,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Institutional & Family Asset Management LLC acquired a new stake in Praxair in the 1st quarter valued at about $137,000. M&R Capital Management Inc. raised its holdings in Praxair by 366.5% in the 4th quarter. M&R Capital Management Inc. now owns 933 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 733 shares during the period. Signaturefd LLC bought a new position in Praxair in the 1st quarter valued at about $147,000. Cornerstone Advisors Inc. raised its holdings in Praxair by 123.1% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,042 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 575 shares during the period. Finally, Aevitas Wealth Management Inc. bought a new position in Praxair in the 4th quarter valued at about $162,000. Institutional investors and hedge funds own 85.70% of the company’s stock.
Several research firms have weighed in on PX. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Monday, May 21st. ValuEngine cut shares of Praxair from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. BMO Capital Markets assumed coverage on shares of Praxair in a report on Tuesday, March 27th. They set a “market perform” rating and a $159.00 target price on the stock. Citigroup raised their target price on shares of Praxair from $163.00 to $177.00 and gave the stock a “buy” rating in a report on Monday, April 30th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $179.00 target price on shares of Praxair in a report on Friday, April 27th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Praxair presently has a consensus rating of “Buy” and an average target price of $174.42.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, April 26th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Praxair had a net margin of 11.27% and a return on equity of 26.91%. equities analysts predict that Praxair, Inc. will post 6.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, June 7th will be paid a $0.825 dividend. The ex-dividend date is Wednesday, June 6th. This represents a $3.30 dividend on an annualized basis and a yield of 2.06%. Praxair’s dividend payout ratio (DPR) is 56.41%.
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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