Balyasny Asset Management LLC lowered its holdings in Praxair, Inc. (NYSE:PX) by 61.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,867 shares of the basic materials company’s stock after selling 7,871 shares during the period. Balyasny Asset Management LLC’s holdings in Praxair were worth $645,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Point72 Asia Hong Kong Ltd purchased a new position in shares of Praxair during the 1st quarter valued at $233,000. Capital Management Corp VA lifted its position in shares of Praxair by 0.6% during the 2nd quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock valued at $248,000 after buying an additional 11 shares during the last quarter. Federated Investors Inc. PA lifted its position in shares of Praxair by 47.3% during the 2nd quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock valued at $1,333,000 after buying an additional 3,228 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of Praxair during the 2nd quarter valued at $1,286,000. Finally, Mosaic Family Wealth LLC lifted its position in shares of Praxair by 6.3% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock valued at $173,000 after buying an additional 77 shares during the last quarter. 85.28% of the stock is currently owned by institutional investors and hedge funds.
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A number of analysts recently issued reports on the company. Jefferies Group LLC restated a “buy” rating and issued a $162.00 target price on shares of Praxair in a research note on Thursday, October 19th. BidaskClub upgraded Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. KeyCorp restated a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd. Finally, UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a report on Thursday, September 7th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $138.00.
Praxair, Inc. (PX) opened at 149.60 on Friday. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $149.91. The company has a market cap of $42.79 billion, a price-to-earnings ratio of 28.01 and a beta of 0.95. The company’s 50-day moving average price is $138.95 and its 200-day moving average price is $132.63.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.06. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. Praxair’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share. Equities research analysts expect that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be paid a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.11%. Praxair’s dividend payout ratio is currently 58.88%.
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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