Naples Global Advisors LLC Has $1,494,000 Position in Praxair, Inc. (NYSE:PX)
Naples Global Advisors LLC held its stake in Praxair, Inc. (NYSE:PX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,270 shares of the basic materials company’s stock at the end of the second quarter. Naples Global Advisors LLC’s holdings in Praxair were worth $1,494,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Parametrica Management Ltd raised its stake in Praxair by 8.5% in the second quarter. Parametrica Management Ltd now owns 3,637 shares of the basic materials company’s stock valued at $482,000 after buying an additional 286 shares in the last quarter. Regentatlantic Capital LLC raised its stake in Praxair by 3.0% in the second quarter. Regentatlantic Capital LLC now owns 2,388 shares of the basic materials company’s stock valued at $317,000 after buying an additional 70 shares in the last quarter. Wallington Asset Management LLC raised its stake in Praxair by 7.5% in the second quarter. Wallington Asset Management LLC now owns 62,787 shares of the basic materials company’s stock valued at $8,322,000 after buying an additional 4,380 shares in the last quarter. Greenleaf Trust raised its stake in Praxair by 0.5% in the second quarter. Greenleaf Trust now owns 9,311 shares of the basic materials company’s stock valued at $1,234,000 after buying an additional 49 shares in the last quarter. Finally, Bridges Investment Management Inc. bought a new stake in Praxair during the second quarter valued at $213,000. Institutional investors own 85.53% of the company’s stock.
Shares of Praxair, Inc. (PX) traded down 0.6616% during mid-day trading on Thursday, reaching $128.0074. 349,254 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $132.75 and a 200 day moving average of $125.45. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The firm has a market capitalization of $36.61 billion, a P/E ratio of 23.9714 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 EPS for the quarter, topping the 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 company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the company earned $1.39 EPS. Praxair’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts forecast that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be issued a $0.7875 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.44%. Praxair’s payout ratio is 58.88%.
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Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub lowered shares of Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Wednesday, June 21st. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $156.00 price objective (up previously from $130.00) on shares of Praxair in a research note on Sunday, June 11th. Finally, Vertical Research upgraded shares of Praxair to a “hold” rating and lifted their price objective for the company from $123.00 to $127.00 in a research note on Wednesday, June 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Praxair 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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