Kanawha Capital Management LLC Has $248,000 Position in Praxair Inc. (PX)
Kanawha Capital Management LLC maintained its stake in shares of Praxair Inc. (NYSE:PX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,210 shares of the company’s stock at the end of the second quarter. Kanawha Capital Management LLC’s holdings in Praxair were worth $248,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the company. Locust Wood Capital Advisers LLC acquired a new stake in shares of Praxair during the second quarter valued at about $46,243,000. Bank of Montreal Can acquired a new stake in shares of Praxair during the second quarter valued at about $34,686,000. 1832 Asset Management L.P. boosted its stake in shares of Praxair by 2,936.4% in the first quarter. 1832 Asset Management L.P. now owns 308,495 shares of the company’s stock valued at $59,111,000 after buying an additional 298,335 shares in the last quarter. State Street Corp boosted 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 valued at $1,435,875,000 after buying an additional 289,196 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Praxair by 99.1% in the second quarter. BNP Paribas Arbitrage SA now owns 118,864 shares of the company’s stock valued at $13,359,000 after buying an additional 59,159 shares in the last quarter. Institutional investors and hedge funds own 83.76% of the company’s stock.
Praxair Inc. (NYSE:PX) traded up 1.22% during midday trading on Wednesday, reaching $119.94. 622,173 shares of the company were exchanged. The firm has a 50-day moving average price of $119.07 and a 200-day moving average price of $116.14. The company has a market capitalization of $34.21 billion, a PE ratio of 21.84 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 earnings results on Thursday, July 28th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The company had revenue of $2.70 billion for 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 quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 earnings per share. Equities research analysts anticipate that Praxair Inc. will post $5.51 earnings per share for the current fiscal year.
A number of analysts recently weighed in on PX shares. TheStreet raised shares of Praxair from a “hold” rating to a “buy” rating in a research report on Thursday, June 23rd. Jefferies Group reissued a “buy” rating on shares of Praxair in a research report on Wednesday, July 6th. Citigroup Inc. increased their price objective on shares of Praxair from $120.00 to $123.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. Barclays PLC increased their price objective on shares of Praxair from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, July 29th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $117.00 price objective on shares of Praxair in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Praxair 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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