Personal Capital Advisors Corp Sells 36,460 Shares of Praxair, Inc. (PX)
Personal Capital Advisors Corp reduced its stake in shares of Praxair, Inc. (NYSE:PX) by 85.2% during the second quarter, Holdings Channel reports. The institutional investor owned 6,337 shares of the basic materials company’s stock after selling 36,460 shares during the period. Personal Capital Advisors Corp’s holdings in Praxair were worth $840,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Carroll Financial Associates Inc. boosted 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 valued at $100,000 after buying an additional 120 shares in the last quarter. Sandy Spring Bank boosted 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 valued at $100,000 after buying an additional 200 shares during the period. Exane Derivatives acquired a new stake in Praxair during the second quarter valued at about $109,000. Capital Analysts LLC boosted 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 valued at $120,000 after buying an additional 65 shares during the period. Finally, V Wealth Management LLC acquired a new stake in Praxair during the second quarter valued at about $124,000. 85.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (PX) traded down 0.6616% during midday trading on Thursday, hitting $128.0074. The stock had a trading volume of 349,254 shares. The stock has a market cap of $36.61 billion, a P/E ratio of 23.9714 and a beta of 0.93. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The stock has a 50-day moving average price of $132.75 and a 200-day moving average price of $125.45.
Praxair (NYSE:PX) last announced its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $1.39 earnings per share. Equities analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be paid a dividend of $0.7875 per share. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.44%. Praxair’s dividend payout ratio is presently 58.88%.
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PX has been the subject of several recent analyst reports. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research note on Friday, April 21st. Barclays PLC raised their target price on Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and set a $162.00 target price (up previously from $140.00) on shares of Praxair in a research note on Saturday, June 3rd. Finally, Vertical Group raised Praxair to a “hold” rating and raised their target price for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price 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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