Praxair Inc. (PX) Stake Boosted by Trillium Asset Management LLC
Trillium Asset Management LLC raised its stake in Praxair Inc. (NYSE:PX) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 44,948 shares of the company’s stock after buying an additional 224 shares during the period. Trillium Asset Management LLC’s holdings in Praxair were worth $5,052,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in PX. State Street Corp boosted its position in shares of Praxair by 2.4% in the first quarter. State Street Corp now owns 12,545,803 shares of the company’s stock valued at $1,435,875,000 after buying an additional 289,196 shares during the last quarter. BlackRock Fund Advisors boosted 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 valued at $407,307,000 after buying an additional 46,970 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Praxair by 2.2% in the first quarter. Geode Capital Management LLC now owns 2,234,659 shares of the company’s stock valued at $255,221,000 after buying an additional 48,555 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Praxair by 3.2% in the first quarter. Legal & General Group Plc now owns 1,305,158 shares of the company’s stock valued at $149,380,000 after buying an additional 39,944 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Praxair during the first quarter valued at about $72,332,000. 83.78% of the stock is currently owned by institutional investors.
Shares of Praxair Inc. (NYSE:PX) traded up 0.41% during trading on Thursday, reaching $120.85. The company had a trading volume of 913,266 shares. The firm has a 50-day moving average price of $120.10 and a 200-day moving average price of $115.83. The company has a market capitalization of $34.47 billion, a P/E ratio of 22.00 and a beta of 0.93. Praxair Inc. has a 52-week low of $95.60 and a 52-week high of $125.00.
Praxair (NYSE:PX) last issued its quarterly 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. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the company earned $1.45 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts predict that Praxair Inc. will post $5.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s payout ratio is 54.55%.
Several analysts recently issued reports on the stock. Credit Suisse Group AG restated a “hold” rating and issued a $117.00 price objective on shares of Praxair in a report on Friday, July 29th. Credit Agricole SA boosted their price objective on shares of Praxair from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. TheStreet upgraded shares of Praxair from a “hold” rating to a “buy” rating in a report on Thursday, June 23rd. Jefferies Group restated a “buy” rating and issued a $140.00 price objective on shares of Praxair in a report on Tuesday, August 16th. Finally, Morgan Stanley restated a “hold” rating and issued a $100.00 price objective on shares of Praxair in a report on Thursday, June 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target 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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