Praxair, Inc. (NYSE:PX) Position Raised by Monarch Capital Management Inc.
Monarch Capital Management Inc. boosted its position in shares of Praxair, Inc. (NYSE:PX) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 8,971 shares of the basic materials company’s stock after buying an additional 425 shares during the period. Monarch Capital Management Inc.’s holdings in Praxair were worth $1,189,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in PX. Carroll Financial Associates Inc. boosted its position in Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock worth $100,000 after buying an additional 120 shares during the period. Sandy Spring Bank boosted its position in Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares during the period. Exane Derivatives purchased a new position in Praxair during the second quarter worth about $109,000. Capital Analysts LLC boosted its position in Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares during the period. Finally, V Wealth Management LLC purchased a new position in Praxair during the second quarter worth about $124,000. Hedge funds and other institutional investors own 85.53% of the company’s stock.
Praxair, Inc. (NYSE PX) opened at 127.44 on Friday. The firm has a market capitalization of $36.45 billion, a P/E ratio of 23.87 and a beta of 0.93. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69. The stock’s 50 day moving average is $132.46 and its 200-day moving average is $125.54.
Praxair (NYSE:PX) last posted its earnings results 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. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share. Analysts forecast that Praxair, Inc. will post $5.47 EPS 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 given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Wednesday, September 6th. Praxair’s payout ratio is presently 58.88%.
A number of equities analysts have issued reports on the company. Vertical Research upgraded Praxair to a “hold” rating and increased their target price for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 target price (up previously from $140.00) on shares of Praxair in a report on Saturday, June 3rd. Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a report on Friday, June 2nd. BidaskClub cut Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. 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 company’s stock. The stock presently has a consensus rating of “Hold” and a consensus 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.
Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair, Inc. (NYSE:PX).
Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with MarketBeat.com's FREE daily email newsletter.