Praxair, Inc. (PX) Stake Increased by Nippon Life Insurance Co.
Nippon Life Insurance Co. raised its stake in Praxair, Inc. (NYSE:PX) by 0.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,080 shares of the company’s stock after buying an additional 70 shares during the period. Nippon Life Insurance Co.’s holdings in Praxair were worth $2,547,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in PX. Checchi Capital Advisers LLC boosted its position in shares of Praxair by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,574 shares of the company’s stock worth $289,000 after buying an additional 73 shares during the last quarter. CIBC World Markets Inc. purchased a new position in shares of Praxair during the second quarter worth approximately $1,057,000. Parametrica Management Ltd purchased a new position in shares of Praxair during the second quarter worth approximately $236,000. Conestoga Capital Advisors LLC boosted its position in shares of Praxair by 5.9% in the second quarter. Conestoga Capital Advisors LLC now owns 2,505 shares of the company’s stock worth $282,000 after buying an additional 140 shares during the last quarter. Finally, Dynamic Advisors Solutions LLC boosted its position in shares of Praxair by 15.0% in the second quarter. Dynamic Advisors Solutions LLC now owns 2,487 shares of the company’s stock worth $279,000 after buying an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 81.36% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) traded down 0.12% during mid-day trading on Friday, reaching $117.11. The company’s stock had a trading volume of 572,185 shares. The firm has a market cap of $33.42 billion, a price-to-earnings ratio of 22.22 and a beta of 0.95. The company’s 50-day moving average is $119.42 and its 200 day moving average is $118.23. Praxair, Inc. has a 12 month low of $95.60 and a 12 month high of $125.00.
Praxair (NYSE:PX) last announced its earnings results on Thursday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the 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 analyst estimates of $2.70 billion. During the same period in the previous year, the business earned $1.46 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, December 7th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.56%. The ex-dividend date was Monday, December 5th. Praxair’s dividend payout ratio is presently 56.82%.
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A number of brokerages have recently commented on PX. Vertical Research upgraded Praxair from a “sell” rating to a “hold” rating and set a $120.00 price target for the company in a research note on Wednesday, December 14th. Vertical Group upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, December 15th. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Monday, December 19th. Jefferies Group reiterated a “buy” rating and issued a $140.00 price target on shares of Praxair in a research note on Friday, September 30th. Finally, HSBC began coverage on Praxair in a research note on Tuesday, November 29th. They issued a “hold” rating and a $113.00 price target for the company. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. Praxair has a consensus rating of “Hold” and an average price target of $118.33.
In other news, insider Anne K. Roby sold 17,103 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 19,337 shares of the company’s stock, valued at $2,270,163.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond W. Leboeuf sold 6,550 shares of the company’s stock in a transaction dated 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 directly owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.
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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