Shell Asset Management Co. Has $6.32 Million Position in Praxair, Inc. (NYSE:PX)
Shell Asset Management Co. increased its stake in shares of Praxair, Inc. (NYSE:PX) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 47,679 shares of the basic materials company’s stock after buying an additional 639 shares during the period. Shell Asset Management Co.’s holdings in Praxair were worth $6,320,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares during the period. Parnassus Investments CA increased its position in shares of Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares during the period. Renaissance Technologies LLC increased its position in shares of Praxair by 287.7% in the first quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock valued at $185,099,000 after buying an additional 1,158,100 shares during the period. CI Global Investments Inc. bought a new position in shares of Praxair during the first quarter valued at $95,019,000. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of Praxair during the first quarter valued at $55,637,000. Institutional investors own 85.53% of the company’s stock.
Praxair, Inc. (NYSE:PX) opened at 127.62 on Friday. The company’s 50-day moving average price is $132.60 and its 200 day moving average price is $125.47. The firm has a market capitalization of $36.50 billion, a PE ratio of 23.90 and a beta of 0.93. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $1.39 EPS. On average, analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s payout ratio is currently 58.88%.
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Several analysts have recently commented on PX shares. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a report on Friday, April 21st. Barclays PLC raised their price target on Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 price target (up from $140.00) on shares of Praxair in a report on Saturday, June 3rd. Finally, BidaskClub cut Praxair from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Praxair currently has a consensus rating of “Hold” and a consensus 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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