Praxair Inc. (PX) Reaches New 1-Year High at $125.00
Praxair Inc. (NYSE:PX) shares reached a new 52-week high during trading 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.
Several research firms have recently commented on PX. Argus reaffirmed a “hold” rating on shares of Praxair in a report on Tuesday. Barclays PLC lifted their price target on shares of Praxair from $112.00 to $120.00 and gave the company an “equal weight” rating in a report on Monday, May 2nd. Credit Agricole SA boosted their target price on shares of Praxair from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, August 2nd. Jefferies Group reissued a “buy” rating and set a $140.00 target price on shares of Praxair in a research note on Tuesday. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $116.79.
The company has a 50 day moving average price of $116.48 and a 200-day moving average price of $112.26. The firm has a market cap of $34.35 billion and a price-to-earnings ratio of 21.93.
Praxair (NYSE:PX) last announced its earnings results on Thursday, July 28th. The company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the business earned $1.45 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Analysts predict that Praxair Inc. will post $5.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 8th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Tuesday, September 6th.
Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in shares of Praxair by 36.8% in the fourth quarter. Victory Capital Management Inc. now owns 15,241 shares of the company’s stock worth $1,561,000 after buying an additional 4,102 shares during the period. Autus Asset Management LLC boosted its stake in shares of Praxair by 18.7% in the fourth quarter. Autus Asset Management LLC now owns 16,701 shares of the company’s stock worth $1,711,000 after buying an additional 2,636 shares during the period. Bridgewater Associates LP purchased a new stake in shares of Praxair during the fourth quarter worth about $1,880,000. Trexquant Investment LP purchased a new stake in shares of Praxair during the fourth quarter worth about $2,089,000. Finally, Calvert Investment Management Inc. boosted its stake 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 period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.