Praxair Inc. (PX) Sees Large Volume Increase
Praxair Inc. (NYSE:PX) saw strong trading volume on Wednesday . 1,240,028 shares traded hands during trading, an increase of 5% from the previous session’s volume of 1,184,362 shares.The stock last traded at $120.43 and had previously closed at $121.27.
Several equities research analysts have issued reports on the company. Argus restated a “hold” rating on shares of Praxair in a report on Tuesday. Barclays PLC boosted their price objective on Praxair from $112.00 to $120.00 and gave the company an “equal weight” rating in a research report on Monday, May 2nd. Credit Agricole SA boosted their price objective on Praxair from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Jefferies Group restated a “buy” rating and set a $140.00 price objective on shares of Praxair in a research report on Tuesday. Finally, Deutsche Bank AG restated a “hold” rating on shares of Praxair in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Praxair has a consensus rating of “Hold” and a consensus target price of $116.79.
The company’s 50-day moving average price is $116.80 and its 200 day moving average price is $112.33. The stock has a market cap of $34.94 billion and a PE ratio of 22.30.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.03. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Praxair’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.45 EPS. Analysts forecast that Praxair Inc. will post $5.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 8th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Tuesday, September 6th.
A number of large investors have added to or reduced their stakes in PX. Schroder Investment Management Group increased its stake in Praxair by 46.5% in the fourth quarter. Schroder Investment Management Group now owns 206,419 shares of the company’s stock worth $21,137,000 after buying an additional 65,525 shares during the last quarter. Victory Capital Management Inc. increased its stake in Praxair by 36.8% in the fourth quarter. Victory Capital Management Inc. now owns 15,241 shares of the company’s stock worth $1,561,000 after buying an additional 4,102 shares during the last quarter. Trexquant Investment LP acquired a new stake in Praxair during the fourth quarter worth about $2,089,000. Stephens Inc. AR increased its stake in Praxair by 8.3% in the fourth quarter. Stephens Inc. AR now owns 37,804 shares of the company’s stock worth $3,871,000 after buying an additional 2,887 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Praxair by 6.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 618,616 shares of the company’s stock worth $63,350,000 after buying an additional 37,620 shares during the last quarter.
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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