Pinnacle Bank Takes Position in Praxair, Inc. (PX)
Pinnacle Bank bought a new position in shares of Praxair, Inc. (NYSE:PX) during the first quarter, Holdings Channel reports. The firm bought 1,890 shares of the basic materials company’s stock, valued at approximately $224,000.
Other large investors have also recently made changes to their positions in the company. Carroll Financial Associates Inc. raised its position in Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock valued at $100,000 after buying an additional 120 shares during the period. First Command Bank bought a new position in Praxair during the fourth quarter valued at $104,000. TLP Group LLC bought a new position in Praxair during the third quarter valued at $131,000. Quadrant Capital Group LLC raised its position in Praxair by 4.0% in the first quarter. Quadrant Capital Group LLC now owns 1,208 shares of the basic materials company’s stock valued at $137,000 after buying an additional 47 shares during the period. Finally, Mosaic Family Wealth LLC raised its position in Praxair by 11.5% in the third quarter. Mosaic Family Wealth LLC now owns 1,196 shares of the basic materials company’s stock valued at $144,000 after buying an additional 123 shares during the period. 83.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Praxair, Inc. (NYSE:PX) traded down 0.28% on Tuesday, hitting $117.72. The stock had a trading volume of 516,072 shares. The company has a 50-day moving average of $118.15 and a 200 day moving average of $118.27. The company has a market capitalization of $33.56 billion, a price-to-earnings ratio of 22.60 and a beta of 0.98. Praxair, Inc. has a 52 week low of $106.31 and a 52 week high of $125.00.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, January 26th. The basic materials company reported $1.41 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.41. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.66 billion. Praxair had a return on equity of 28.75% and a net margin of 14.24%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 earnings per share. On average, equities research analysts predict that Praxair, Inc. will post $5.47 EPS for the current year.
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Several research analysts have weighed in on the company. Zacks Investment Research raised Praxair from a “sell” rating to a “hold” rating in a research report on Monday, December 19th. JPMorgan Chase & Co. raised Praxair from a “neutral” rating to an “overweight” rating and set a $125.00 price target on the stock in a research report on Friday, January 27th. Seaport Global Securities lowered Praxair from an “accumulate” rating to a “neutral” rating in a research report on Wednesday, February 1st. CLSA lowered Praxair from an “outperform” rating to an “underperform” rating in a research report on Thursday, December 22nd. Finally, Evercore ISI assumed coverage on Praxair in a research report on Monday, February 13th. They set a “sell” rating and a $107.00 price target on the stock. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $121.90.
Praxair Company Profile
Praxair, Inc is an industrial gas company. 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, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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