Praxair Inc. (PX) Now Covered by Analysts at HSBC
A number of other brokerages have also recently issued reports on PX. TheStreet raised shares of Praxair from a hold rating to a buy rating in a report on Monday, August 29th. Jefferies Group reissued a buy rating and set a $140.00 price objective on shares of Praxair in a research note on Tuesday, August 16th. Zacks Investment Research cut shares of Praxair from a hold rating to a sell rating in a research note on Monday, October 3rd. Morgan Stanley initiated coverage on shares of Praxair in a research note on Tuesday, September 13th. They set an equal weight rating and a $125.00 price objective for the company. Finally, Argus reissued a hold rating on shares of Praxair in a research note on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $118.20.
Praxair (NYSE:PX) opened at 122.18 on Tuesday. The company has a 50-day moving average price of $117.56 and a 200-day moving average price of $116.58. The firm has a market capitalization of $34.87 billion, a PE ratio of 23.18 and a beta of 0.95. Praxair has a 12-month low of $95.60 and a 12-month high of $125.00.
Praxair (NYSE:PX) last issued its earnings results on Thursday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.01. Praxair had a net margin of 14.46% and a return on equity of 29.92%. The company earned $2.70 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same period last year, the company posted $1.46 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Praxair will post $5.47 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, December 7th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, December 5th. This represents a $3.00 annualized dividend and a dividend yield of 2.46%. Praxair’s payout ratio is 56.82%.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction on Monday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the transaction, the director now owns 16,697 shares in the company, valued at approximately $1,957,890.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anne K. Roby sold 17,103 shares of Praxair stock in a transaction on Monday, October 31st. The shares were sold at an average price of $117.40, for a total transaction of $2,007,892.20. Following the transaction, the insider now owns 19,337 shares in the company, valued at approximately $2,270,163.80. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Franklin Street Advisors Inc. NC acquired a new position in Praxair during the second quarter valued at $3,832,000. Webster Bank N. A. raised its position in Praxair by 2.8% in the second quarter. Webster Bank N. A. now owns 2,882 shares of the company’s stock valued at $324,000 after buying an additional 79 shares during the last quarter. Alpha Windward LLC raised its position in Praxair by 12.2% in the second quarter. Alpha Windward LLC now owns 2,648 shares of the company’s stock valued at $298,000 after buying an additional 287 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its position in Praxair by 6.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 73,841 shares of the company’s stock valued at $8,299,000 after buying an additional 4,490 shares during the last quarter. Finally, DNB Asset Management AS raised its position in Praxair by 3.3% in the second quarter. DNB Asset Management AS now owns 24,903 shares of the company’s stock valued at $2,799,000 after buying an additional 800 shares during the last quarter. Institutional investors and hedge funds own 81.45% of the company’s stock.
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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