Addenda Capital Inc. lowered its stake in Praxair, Inc. (NYSE:PX) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,048 shares of the basic materials company’s stock after selling 795 shares during the quarter. Addenda Capital Inc.’s holdings in Praxair were worth $2,019,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of PX. Capital World Investors increased its stake in Praxair by 4.3% in the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock worth $2,297,403,000 after purchasing an additional 716,835 shares in the last quarter. Egerton Capital UK LLP increased its stake in Praxair by 24.0% in the 3rd quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock worth $473,016,000 after purchasing an additional 655,456 shares in the last quarter. PointState Capital LP purchased a new position in Praxair in the 2nd quarter worth about $76,481,000. Vanguard Group Inc. increased its stake in Praxair by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock worth $2,757,471,000 after purchasing an additional 523,022 shares in the last quarter. Finally, Steadfast Capital Management LP purchased a new position in Praxair in the 2nd quarter worth about $58,005,000. 85.48% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on PX. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Thursday. Deutsche Bank raised Praxair from a “hold” rating to a “buy” rating and lifted their price target for the stock from $155.00 to $175.00 in a research note on Tuesday, December 19th. Jefferies Group set a $186.00 price target on Praxair and gave the stock a “buy” rating in a research note on Monday, December 11th. Barclays lifted their price target on Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Finally, SunTrust Banks reissued a “buy” rating and issued a $162.00 price target on shares of Praxair in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $159.86.
Shares of Praxair, Inc. (NYSE PX) opened at $164.15 on Friday. Praxair, Inc. has a 1 year low of $115.53 and a 1 year high of $166.08. The company has a market capitalization of $46,899.67, a PE ratio of 29.21, a price-to-earnings-growth ratio of 2.25 and a beta of 1.00. 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 (NYSE:PX) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, topping the Zacks’ 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 during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company posted $1.41 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. equities analysts predict that Praxair, Inc. will post 5.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, December 7th were issued a dividend of $0.7875 per share. The ex-dividend date was Wednesday, December 6th. This represents a $3.15 annualized dividend and a dividend yield of 1.92%. Praxair’s dividend payout ratio is 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the sale, the director now directly owns 16,697 shares in the company, valued at approximately $1,957,890.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.
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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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