Praxair Inc. (PX) Hits New 1-Year High at $125.00
Shares of Praxair Inc. (NYSE:PX) reached a new 52-week high on Tuesday . The stock traded as high as $125.00 and last traded at $123.50, with a volume of 4,295,765 shares changing hands. The stock had previously closed at $118.03.
PX has been the topic of several recent research reports. Jefferies Group restated a “buy” rating and issued a $135.00 price objective on shares of Praxair in a research report on Wednesday, June 15th. TheStreet upgraded Praxair from a “hold” rating to a “buy” rating in a research report on Thursday, June 23rd. Barclays PLC upped their price objective on Praxair from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Finally, JPMorgan Chase & Co. restated a “hold” rating and issued a $109.00 price objective on shares of Praxair in a research report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $116.43.
The company has a 50-day moving average price of $115.73 and a 200-day moving average price of $112.05. The stock has a market cap of $34.80 billion and a P/E ratio of 22.22.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 28th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.03. The company earned $2.70 billion during the quarter, compared to analyst estimates of $2.60 billion. The business’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.45 earnings per share. Analysts anticipate that Praxair Inc. will post $5.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 8th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Tuesday, September 6th.
Other institutional investors recently modified their holdings of the company. Foresters Investment Management Company Inc. boosted its position in shares of Praxair by 1.2% in the fourth quarter. Foresters Investment Management Company Inc. now owns 102,630 shares of the company’s stock worth $10,509,000 after buying an additional 1,200 shares during the last quarter. Bridgewater Associates LP bought a new position in shares of Praxair during the fourth quarter worth about $1,880,000. Marshall Wace LLP bought a new position in shares of Praxair during the fourth quarter worth about $6,934,000. River Road Asset Management LLC boosted its position in shares of Praxair by 135.8% in the fourth quarter. River Road Asset Management LLC now owns 624,897 shares of the company’s stock worth $63,989,000 after buying an additional 359,939 shares during the last quarter. Finally, Calvert Investment Management Inc. boosted its position in shares of Praxair by 42.7% in the fourth quarter. Calvert Investment Management Inc. now owns 20,413 shares of the company’s stock worth $2,090,000 after buying an additional 6,109 shares during the last quarter.
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. 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, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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