Canada Pension Plan Investment Board raised its stake in Praxair, Inc. (NYSE:PX) by 92.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 560,381 shares of the basic materials company’s stock after acquiring an additional 269,000 shares during the period. Canada Pension Plan Investment Board owned approximately 0.20% of Praxair worth $78,308,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PX. Municipal Employees Retirement System of Michigan grew its stake in shares of Praxair by 0.4% in the first quarter. Municipal Employees Retirement System of Michigan now owns 18,540 shares of the basic materials company’s stock worth $2,199,000 after acquiring an additional 70 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Praxair by 9.1% during the first quarter. Jones Financial Companies Lllp now owns 42,277 shares of the basic materials company’s stock valued at $5,014,000 after buying an additional 3,527 shares during the last quarter. United Services Automobile Association boosted its position in shares of Praxair by 3.3% during the first quarter. United Services Automobile Association now owns 168,585 shares of the basic materials company’s stock valued at $19,994,000 after buying an additional 5,444 shares during the last quarter. Gofen & Glossberg LLC IL boosted its position in shares of Praxair by 4.0% during the first quarter. Gofen & Glossberg LLC IL now owns 31,321 shares of the basic materials company’s stock valued at $3,715,000 after buying an additional 1,200 shares during the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of Praxair by 15.0% during the first quarter. OppenheimerFunds Inc. now owns 11,745 shares of the basic materials company’s stock valued at $1,393,000 after buying an additional 1,530 shares during the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.
Praxair, Inc. (PX) traded down $0.18 during mid-day trading on Friday, reaching $148.28. The company’s stock had a trading volume of 1,283,100 shares, compared to its average volume of 1,283,061. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. Praxair, Inc. has a 52 week low of $115.00 and a 52 week high of $150.25. The company has a market capitalization of $42,453.30, a P/E ratio of 25.83, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the company earned $1.41 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. sell-side analysts anticipate that Praxair, Inc. will post 5.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be paid a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Wednesday, December 6th. Praxair’s dividend payout ratio (DPR) is currently 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the transaction, the director now owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by company insiders.
Several equities research analysts recently commented on PX shares. Zacks Investment Research raised Praxair from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Susquehanna Bancshares Inc raised Praxair from a “neutral” rating to a “positive” rating and increased their price objective for the company from $131.00 to $155.00 in a research report on Thursday, September 7th. UBS AG raised Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $162.00 price objective on shares of Praxair in a research report on Thursday, October 19th. Finally, BidaskClub cut Praxair from a “hold” rating to a “sell” rating in a research 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. The company currently has a consensus rating of “Hold” and an average price target of $148.62.
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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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