Baldwin Brothers Inc. MA Sells 150 Shares of Praxair, Inc. (NYSE:PX)
Baldwin Brothers Inc. MA reduced its stake in Praxair, Inc. (NYSE:PX) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,265 shares of the basic materials company’s stock after selling 150 shares during the period. Baldwin Brothers Inc. MA’s holdings in Praxair were worth $433,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Egerton Capital UK LLP raised its position in 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 during the period. Cribstone Capital Management LLC raised its position in 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 during the period. Benin Management CORP raised its position 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 position 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 acquired a new position in Praxair during the first quarter valued at about $1,095,000. 85.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (NYSE:PX) traded down 0.2148% during mid-day trading on Wednesday, hitting $128.3038. 338,234 shares of the company were exchanged. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The company’s 50-day moving average price is $133.31 and its 200-day moving average price is $125.12. The firm has a market capitalization of $36.70 billion, a P/E ratio of 24.0269 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 EPS. Equities research analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio is 58.88%.
PX has been the subject of several recent research reports. Barclays PLC increased their price target on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a report on Friday, June 2nd. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 price objective for the company in a report on Monday, July 31st. BidaskClub lowered shares of Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Bank of America Corporation raised shares of Praxair from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $150.00 in a report on Wednesday, June 7th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus 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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