Traders Buy Praxair (PX) on Weakness

Investors purchased shares of Praxair, Inc. (NYSE:PX) on weakness during trading hours on Thursday. $195.99 million flowed into the stock on the tick-up and $113.99 million flowed out of the stock on the tick-down, for a money net flow of $82.00 million into the stock. Of all equities tracked, Praxair had the 18th highest net in-flow for the day. Praxair traded down ($1.25) for the day and closed at $153.92

Several analysts have weighed in on the stock. BidaskClub upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Citigroup upgraded shares of Praxair from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $137.00 to $168.00 in a research note on Monday, October 30th. KeyCorp reiterated a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. UBS lifted their price objective on shares of Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Susquehanna Bancshares lifted their price objective on shares of Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $154.31.

The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. The company has a market cap of $44,068.11, a price-to-earnings ratio of 26.82, a P/E/G ratio of 2.29 and a beta of 1.00.

Praxair (NYSE:PX) last released its earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating the 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 for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the firm earned $1.41 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. sell-side analysts forecast that Praxair, Inc. will post 5.81 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio is currently 56.05%.

In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in PX. Parallel Advisors LLC grew its holdings in shares of Praxair by 19.1% during the 2nd 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. Kistler Tiffany Companies LLC grew its holdings in shares of Praxair by 149.8% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 430 shares during the last quarter. BB&T Investment Services Inc. bought a new stake in shares of Praxair during the 2nd quarter valued at approximately $106,000. Tortoise Investment Management LLC grew its holdings in shares of Praxair by 3.9% during the 2nd 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. Finally, Pacific Center for Financial Services grew its holdings in shares of Praxair by 65.7% during the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 356 shares during the last quarter. 87.06% of the stock is currently owned by institutional investors.

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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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