Praxair Inc. (PX) Position Maintained by Private Wealth Partners LLC
Private Wealth Partners LLC maintained its stake in shares of Praxair Inc. (NYSE:PX) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,000 shares of the company’s stock at the end of the second quarter. Private Wealth Partners LLC’s holdings in Praxair were worth $225,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of PX. Virginia Retirement System purchased a new position in shares of Praxair during the first quarter worth $2,692,000. Ngam Advisors L.P. raised its position in shares of Praxair by 10.1% in the first quarter. Ngam Advisors L.P. now owns 19,064 shares of the company’s stock worth $2,182,000 after buying an additional 1,745 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Praxair by 3.4% in the first quarter. Teachers Advisors Inc. now owns 411,941 shares of the company’s stock worth $47,147,000 after buying an additional 13,691 shares during the last quarter. FDO Partners LLC purchased a new position in shares of Praxair during the first quarter worth $557,000. Finally, BlackRock Fund Advisors raised its position in shares of Praxair by 1.3% in the first quarter. BlackRock Fund Advisors now owns 3,558,822 shares of the company’s stock worth $407,307,000 after buying an additional 46,970 shares during the last quarter. 83.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Praxair Inc. (NYSE:PX) traded down 0.73% on Tuesday, reaching $120.36. 1,346,325 shares of the company traded hands. The company has a 50-day moving average of $120.13 and a 200-day moving average of $115.80. The stock has a market capitalization of $34.33 billion, a price-to-earnings ratio of 21.92 and a beta of 0.93. Praxair Inc. has a 1-year low of $95.60 and a 1-year high of $125.00.
Praxair (NYSE:PX) last announced its earnings results on Thursday, July 28th. The company reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The company earned $2.70 billion during the quarter, compared to the consensus estimate of $2.60 billion. Praxair had a net margin of 15.09% and a return on equity of 31.66%. Praxair’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $1.45 earnings per share. Analysts anticipate that Praxair Inc. will post $5.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $3.00 annualized dividend and a yield of 2.49%. Praxair’s dividend payout ratio (DPR) is 54.55%.
PX has been the subject of a number of recent analyst reports. Jefferies Group restated a “buy” rating and issued a $140.00 price objective on shares of Praxair in a report on Tuesday, August 16th. TheStreet upgraded shares of Praxair from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Morgan Stanley initiated coverage on shares of Praxair in a report on Tuesday, September 13th. They issued an “equal weight” rating and a $125.00 price objective for the company. Finally, Citigroup Inc. boosted their price objective on shares of Praxair from $120.00 to $123.00 and gave the stock a “neutral” rating in a report on Friday, July 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. Praxair currently has a consensus rating of “Hold” and an average target price of $118.57.
Praxair Company Profile
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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