Praxair, Inc. (NYSE:PX) Position Maintained by Leavell Investment Management Inc.
Leavell Investment Management Inc. held its stake in Praxair, Inc. (NYSE:PX) during the second quarter, Holdings Channel reports. The fund owned 10,184 shares of the basic materials company’s stock at the end of the second quarter. Leavell Investment Management Inc.’s holdings in Praxair were worth $1,350,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in PX. Carroll Financial Associates Inc. increased its stake in Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock worth $100,000 after buying an additional 120 shares in the last quarter. Sandy Spring Bank increased its stake in Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. Capital Analysts LLC increased its stake in Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares in the last quarter. Guardian Life Insurance Co. of America increased its stake in Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock worth $131,000 after buying an additional 8 shares in the last quarter. Finally, First Command Bank increased its stake in Praxair by 12.6% in the second quarter. First Command Bank now owns 1,003 shares of the basic materials company’s stock worth $133,000 after buying an additional 112 shares in the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (PX) traded down 0.2148% during trading on Wednesday, reaching $128.3038. 338,234 shares of the company were exchanged. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69. The firm has a market capitalization of $36.70 billion, a P/E ratio of 24.0269 and a beta of 0.93. The firm’s 50 day moving average is $133.31 and its 200 day moving average is $125.12.
Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the company posted $1.39 earnings per share. The company’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be issued a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s payout ratio is presently 58.88%.
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A number of analysts have recently weighed in on the stock. Vertical Research raised shares of Praxair to a “hold” rating and upped their target price for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price (up from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. BidaskClub downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $135.00.
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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