APG Asset Management N.V. grew its stake in shares of Praxair, Inc. (NYSE:PX) by 15.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 457,784 shares of the basic materials company’s stock after purchasing an additional 60,500 shares during the period. APG Asset Management N.V. owned about 0.16% of Praxair worth $63,971,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in PX. Point72 Asia Hong Kong Ltd purchased a new position in Praxair in the first quarter valued at approximately $233,000. Capital Management Corp VA lifted its stake in 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 purchasing an additional 11 shares during the last quarter. Federated Investors Inc. PA lifted its stake in Praxair by 47.3% in the second quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock valued at $1,333,000 after purchasing an additional 3,228 shares during the last quarter. Seven Eight Capital LP purchased a new position in Praxair in the second quarter valued at approximately $1,286,000. Finally, Mosaic Family Wealth LLC lifted its stake in Praxair by 6.3% in the second quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock valued at $173,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.
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In other news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.
Shares of Praxair, Inc. (NYSE PX) traded down $0.18 on Friday, reaching $148.28. 1,283,100 shares of the company’s stock traded hands, compared to its average volume of 1,297,022. Praxair, Inc. has a twelve month low of $115.00 and a twelve month high of $150.25. The stock has a market capitalization of $42,504.89, a price-to-earnings ratio of 25.86, a PEG ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22.
Praxair (NYSE:PX) last released its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the business earned $1.41 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. analysts anticipate that Praxair, Inc. will post 5.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.12%. Praxair’s payout ratio is 56.05%.
Several equities analysts recently commented on PX shares. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Susquehanna Bancshares Inc upgraded Praxair from a “neutral” rating to a “positive” rating and increased their target price for the stock from $131.00 to $155.00 in a research report on Thursday, September 7th. UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a report on Thursday, September 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price target on shares of Praxair in a report on Thursday, October 19th. Finally, BidaskClub cut shares of Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $148.62.
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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