Traders Buy Praxair (PX) on Weakness

Investors purchased shares of Praxair, Inc. (NYSE:PX) on weakness during trading on Tuesday. $65.71 million flowed into the stock on the tick-up and $37.16 million flowed out of the stock on the tick-down, for a money net flow of $28.55 million into the stock. Of all stocks tracked, Praxair had the 19th highest net in-flow for the day. Praxair traded down ($0.92) for the day and closed at $151.34

Several equities analysts have recently issued reports on PX shares. UBS raised their price target on shares of Praxair from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. Citigroup raised shares of Praxair from a “neutral” rating to a “buy” rating and raised their price target for the company from $137.00 to $168.00 in a research note on Monday, October 30th. Susquehanna Bancshares raised shares of Praxair from a “neutral” rating to a “positive” rating and raised their price target for the company from $131.00 to $155.00 in a research note on Thursday, September 7th. Finally, Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $165.00 price target for the company in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $156.15.

The company has a market capitalization of $43,310.00, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91.

Praxair (NYSE:PX) last announced its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the firm earned $1.41 earnings per share. Praxair’s quarterly revenue was up 7.6% on a year-over-year basis. equities research analysts predict that Praxair, Inc. will post 5.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors 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 2.08%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio is presently 56.05%.

In related news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction 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 owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of PX. Parallel Advisors LLC grew its holdings in Praxair by 19.1% in the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 123 shares during the period. Kistler Tiffany Companies LLC grew its holdings in Praxair by 149.8% in the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 430 shares during the period. BB&T Investment Services Inc. acquired a new position in shares of Praxair during the second quarter valued at about $106,000. Tortoise Investment Management LLC grew its holdings in shares of Praxair by 3.9% during the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after buying 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 second quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after buying an additional 356 shares during the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Traders Buy Praxair (PX) on Weakness” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this news story on another website, it was illegally copied and republished in violation of US & international copyright & trademark law. The legal version of this news story can be read at https://www.dispatchtribunal.com/2017/12/14/traders-buy-praxair-px-on-weakness-2.html.

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.

Receive News & Ratings for Praxair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply