Praxair, Inc. (PX) Shares Sold by Quantitative Systematic Strategies LLC
Quantitative Systematic Strategies LLC decreased its stake in shares of Praxair, Inc. (NYSE:PX) by 20.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,225 shares of the basic materials company’s stock after selling 3,471 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Praxair were worth $1,741,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in PX. Egerton Capital UK LLP raised its position in shares of Praxair by 10.1% in the first quarter. Egerton Capital UK LLP now owns 2,338,087 shares of the basic materials company’s stock valued at $277,297,000 after buying an additional 215,399 shares in the last quarter. Cribstone Capital Management LLC raised its position in shares of Praxair by 49.3% in the first quarter. Cribstone Capital Management LLC now owns 2,360 shares of the basic materials company’s stock valued at $280,000 after buying an additional 779 shares in the last quarter. Benin Management CORP raised its stake in Praxair by 33.9% in the first quarter. Benin Management CORP now owns 10,570 shares of the basic materials company’s stock valued at $1,254,000 after buying an additional 2,675 shares during the period. Rockland Trust Co. raised its stake in Praxair by 3.1% in the first quarter. Rockland Trust Co. now owns 73,514 shares of the basic materials company’s stock valued at $8,719,000 after buying an additional 2,235 shares during the period. Finally, Elkhorn Investments LLC purchased a new stake in Praxair during the first quarter valued at $1,095,000. 85.49% of the stock is currently owned by institutional investors and hedge funds.
Praxair, Inc. (NYSE PX) traded down 0.33% on Friday, reaching $129.89. 440,604 shares of the company were exchanged. The company’s 50-day moving average price is $133.75 and its 200-day moving average price is $125.01. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The stock has a market capitalization of $37.15 billion, a P/E ratio of 24.32 and a beta of 0.93.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the company posted $1.39 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.7875 per share. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.42%. Praxair’s payout ratio is 58.88%.
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PX has been the topic of several analyst reports. BidaskClub lowered shares of Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 target price on shares of Praxair in a report on Wednesday, June 21st. Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $150.00 in a report on Wednesday, June 7th. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a report on Friday, April 21st. Finally, Barclays PLC increased their target price on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Praxair presently has an average rating of “Hold” and an average price target of $135.00.
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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