Praxair Inc. (PX) Shares Bought by Advisory Services Network LLC
Advisory Services Network LLC raised its position in shares of Praxair Inc. (NYSE:PX) by 23.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,383 shares of the company’s stock after buying an additional 263 shares during the period. Advisory Services Network LLC’s holdings in Praxair were worth $155,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Carnick & Kubik LLC acquired a new stake in shares of Praxair during the first quarter worth $109,000. High Point Bank & Trust Co. raised its stake in shares of Praxair by 25.0% in the second quarter. High Point Bank & Trust Co. now owns 1,250 shares of the company’s stock worth $140,000 after buying an additional 250 shares during the period. Cribstone Capital Management LLC acquired a new stake in shares of Praxair during the second quarter worth $181,000. Tompkins Financial Corp raised its stake in shares of Praxair by 183.9% in the second quarter. Tompkins Financial Corp now owns 1,706 shares of the company’s stock worth $192,000 after buying an additional 1,105 shares during the period. Finally, Capital Management Corp VA raised its stake in shares of Praxair by 0.7% in the second quarter. Capital Management Corp VA now owns 1,815 shares of the company’s stock worth $204,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 83.78% of the company’s stock.
Praxair Inc. (NYSE:PX) traded down 1.38% during mid-day trading on Tuesday, hitting $117.13. The stock had a trading volume of 1,094,364 shares. The stock has a 50 day moving average of $119.92 and a 200-day moving average of $116.01. Praxair Inc. has a 1-year low of $95.60 and a 1-year high of $125.00. The firm has a market cap of $33.41 billion, a P/E ratio of 21.33 and a beta of 0.93.
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 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 company posted $1.45 earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts predict that Praxair Inc. will post $5.51 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were paid a dividend of $0.75 per share. The ex-dividend date was Tuesday, September 6th. This represents a $3.00 annualized dividend and a yield of 2.56%. Praxair’s dividend payout ratio is 54.55%.
Several research analysts have recently commented on PX shares. Barclays PLC lifted their target price on Praxair from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, July 29th. Citigroup Inc. decreased their target price on Praxair from $123.00 to $122.00 and set a “neutral” rating for the company in a research report on Friday, July 29th. Credit Suisse Group AG reiterated a “hold” rating and issued a $117.00 target price on shares of Praxair in a research report on Friday, July 29th. Credit Agricole SA lifted their target price on Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $118.57.
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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