Northwestern Mutual Investment Management Company LLC lowered its stake in shares of Praxair, Inc. (NYSE:PX) by 19.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,265 shares of the basic materials company’s stock after selling 12,404 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Praxair were worth $7,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of PX. Bessemer Group Inc. boosted its position in Praxair by 6.9% during the fourth quarter. Bessemer Group Inc. now owns 5,489 shares of the basic materials company’s stock valued at $849,000 after purchasing an additional 352 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Praxair during the fourth quarter valued at about $274,000. Victory Capital Management Inc. raised its stake in Praxair by 9.5% in the fourth quarter. Victory Capital Management Inc. now owns 27,003 shares of the basic materials company’s stock valued at $4,177,000 after buying an additional 2,334 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Praxair in the fourth quarter valued at about $282,000. Finally, M&T Bank Corp raised its stake in Praxair by 1.5% in the fourth quarter. M&T Bank Corp now owns 59,369 shares of the basic materials company’s stock valued at $9,183,000 after buying an additional 872 shares during the last quarter. 85.70% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on PX shares. Citigroup decreased their price target on Praxair from $188.00 to $163.00 and set a “buy” rating for the company in a research note on Tuesday, April 10th. TheStreet upgraded Praxair from a “c+” rating to an “a-” rating in a research note on Thursday, April 26th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $179.00 price target on shares of Praxair in a research note on Friday, April 27th. Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Finally, ValuEngine upgraded Praxair from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $174.42.
Shares of Praxair opened at $159.83 on Friday, Marketbeat Ratings reports. Praxair, Inc. has a 52-week low of $127.36 and a 52-week high of $166.95. The stock has a market capitalization of $45.88 billion, a PE ratio of 27.32, a PEG ratio of 2.05 and a beta of 1.08. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.94 and a quick ratio of 0.77.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, April 26th. The basic materials company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.09. Praxair had a return on equity of 26.91% and a net margin of 11.27%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.93 billion. equities analysts predict that Praxair, Inc. will post 6.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, June 7th will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Wednesday, June 6th. Praxair’s payout ratio is 56.41%.
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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