Praxair, Inc. (NYSE:PX) Shares Sold by OLD National Bancorp IN
OLD National Bancorp IN cut its position in Praxair, Inc. (NYSE:PX) by 13.8% during the second quarter, Holdings Channel reports. The firm owned 5,777 shares of the basic materials company’s stock after selling 925 shares during the period. OLD National Bancorp IN’s holdings in Praxair were worth $766,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of PX. Egerton Capital UK LLP raised its stake 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 worth $277,297,000 after buying an additional 215,399 shares during the period. Cribstone Capital Management LLC raised its stake 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 worth $280,000 after buying an additional 779 shares during the period. 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 worth $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 worth $8,719,000 after buying an additional 2,235 shares during the period. Finally, Elkhorn Investments LLC bought a new stake in Praxair during the first quarter worth about $1,095,000. 85.53% of the stock is owned by institutional investors and hedge funds.
Praxair, Inc. (PX) traded up 0.2776% during trading on Friday, reaching $127.9743. The company had a trading volume of 201,617 shares. The company has a 50 day moving average price of $132.60 and a 200 day moving average price of $125.47. The company has a market capitalization of $36.60 billion, a PE ratio of 23.9652 and a beta of 0.93. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69.
Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.39 EPS. On average, equities analysts forecast that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s payout ratio is 58.88%.
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A number of analysts have recently issued reports on PX shares. 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 reissued a “hold” rating on shares of Praxair in a research 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 target for the company in a research report on Monday, July 31st. BidaskClub lowered shares of Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Bank of America Corporation raised shares of Praxair from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, June 7th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. Praxair currently has an average rating of “Hold” and an average target price 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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