Praxair Inc. (PX) Position Reduced by Huntington National Bank
Huntington National Bank lowered its position in shares of Praxair Inc. (NYSE:PX) by 10.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,028 shares of the company’s stock after selling 17,175 shares during the period. Huntington National Bank’s holdings in Praxair were worth $16,300,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp increased its stake 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 worth $1,435,875,000 after buying an additional 289,196 shares in the last quarter. Geode Capital Management LLC boosted its stake in Praxair by 2.2% in the first quarter. Geode Capital Management LLC now owns 2,234,659 shares of the company’s stock worth $255,221,000 after buying an additional 48,555 shares during the last quarter. Legal & General Group Plc boosted its stake in Praxair by 3.2% in the first quarter. Legal & General Group Plc now owns 1,305,158 shares of the company’s stock worth $149,380,000 after buying an additional 39,944 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Praxair during the first quarter worth about $72,332,000. Finally, Confluence Investment Management LLC boosted its stake in Praxair by 10.9% in the second quarter. Confluence Investment Management LLC now owns 502,325 shares of the company’s stock worth $56,456,000 after buying an additional 49,478 shares during the last quarter. Institutional investors own 83.78% of the company’s stock.
Shares of Praxair Inc. (NYSE:PX) traded down 1.41% during midday trading on Tuesday, reaching $117.09. The company’s stock had a trading volume of 862,250 shares. The stock has a market cap of $33.40 billion, a PE ratio of 21.32 and a beta of 0.93. The firm has a 50-day moving average of $119.92 and a 200-day moving average of $116.01. Praxair Inc. has a one year low of $95.60 and a one year 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, beating the Thomson Reuters’ consensus estimate 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 in the previous year, the firm earned $1.45 earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year. On average, analysts forecast that Praxair Inc. will post $5.51 EPS for the current 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 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s dividend payout ratio (DPR) is presently 54.55%.
A number of analysts recently issued reports on PX shares. TheStreet raised Praxair from a “hold” rating to a “buy” rating in a research note on Monday, August 29th. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a research note on Monday, October 3rd. Jefferies Group reissued a “buy” rating and set a $140.00 target price on shares of Praxair in a research note on Friday, September 30th. Morgan Stanley started coverage on Praxair in a research note on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 target price for the company. Finally, Barclays PLC increased their target price on Praxair from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Friday, July 29th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus 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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