Traders Buy Shares of Praxair, Inc. (PX) on Weakness

Traders purchased shares of Praxair, Inc. (NYSE:PX) on weakness during trading on Monday. $38.87 million flowed into the stock on the tick-up and $16.55 million flowed out of the stock on the tick-down, for a money net flow of $22.32 million into the stock. Of all stocks tracked, Praxair had the 27th highest net in-flow for the day. Praxair traded down ($0.92) for the day and closed at $141.29

PX has been the subject of a number of recent analyst reports. UBS AG raised Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. KeyCorp reaffirmed a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd. BidaskClub cut Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Susquehanna Bancshares Inc raised Praxair from a “neutral” rating to a “positive” rating and raised their price objective for the company from $131.00 to $155.00 in a research report on Thursday, September 7th. Finally, Zacks Investment Research raised Praxair from a “sell” rating to a “buy” rating and set a $148.00 price objective for the company in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $138.00.

The firm has a 50 day moving average of $136.86 and a 200-day moving average of $131.39. The stock has a market capitalization of $40.42 billion, a price-to-earnings ratio of 27.02 and a beta of 0.95.

Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business earned $1.39 earnings per share. Praxair’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. 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 purchasing an additional 200 shares during the last quarter. 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 purchasing an additional 123 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in Praxair in the second quarter valued at approximately $106,000. Exane Derivatives purchased a new position in Praxair in the second quarter valued at approximately $109,000. Finally, 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 purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 85.30% of the company’s stock.

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About Praxair

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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