Moody Lynn & Lieberson LLC Increases Position in Praxair, Inc. (PX)
Moody Lynn & Lieberson LLC raised its stake in shares of Praxair, Inc. (NYSE:PX) by 316.0% during the second quarter, Holdings Channel reports. The firm owned 14,942 shares of the basic materials company’s stock after buying an additional 11,350 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Praxair were worth $1,981,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its position in 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 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 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. acquired a new position in Praxair during the first quarter valued at approximately $95,019,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Praxair during the first quarter valued at approximately $55,637,000. Institutional investors and hedge funds own 85.53% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) opened at 127.44 on Friday. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69. The company has a market cap of $36.45 billion, a PE ratio of 23.87 and a beta of 0.93. The company’s 50-day moving average is $132.46 and its 200 day moving average is $125.54.
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 the Zacks’ consensus estimate of $1.43 by $0.03. The firm 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 for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the company posted $1.39 EPS. On average, analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be given a dividend of $0.7875 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.47%. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
Several equities analysts recently commented on PX shares. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a research note on Friday, April 21st. Barclays PLC upped their price target on shares of Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. Deutsche Bank AG restated a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $162.00 price objective (up previously from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Finally, BidaskClub cut shares of Praxair from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus 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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