Praxair, Inc. (PX) Stake Lowered by Benjamin F. Edwards & Company Inc.
Benjamin F. Edwards & Company Inc. decreased its position in Praxair, Inc. (NYSE:PX) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,496 shares of the basic materials company’s stock after selling 174 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Praxair were worth $861,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake 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 worth $2,092,621,000 after buying an additional 16,839,374 shares during the last quarter. State Street Corp increased its stake in Praxair by 0.5% in the first quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock worth $1,639,105,000 after buying an additional 74,856 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Praxair by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 10,901,896 shares of the basic materials company’s stock worth $1,292,964,000 after buying an additional 48,313 shares during the last quarter. Wellington Management Group LLP increased its stake in Praxair by 6.2% in the first quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock worth $900,147,000 after buying an additional 446,016 shares during the last quarter. Finally, Parnassus Investments CA increased its stake 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 worth $737,895,000 after buying an additional 2,091,079 shares during the last quarter. 85.53% of the stock is owned by institutional investors and hedge funds.
Shares of Praxair, Inc. (NYSE PX) opened at 127.44 on Friday. The company has a market capitalization of $36.45 billion, a PE 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 firm has a 50-day moving average price of $132.46 and a 200-day moving average price of $125.54.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 earnings per share. Equities analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be paid a $0.7875 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.47%. Praxair’s payout ratio is currently 58.88%.
PX has been the subject of a number of recent analyst reports. Barclays PLC raised 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. BidaskClub cut Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and set a $162.00 price objective on shares of Praxair in a research note on Wednesday, June 21st. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $156.00 price objective (up from $130.00) on shares of Praxair in a research note on Sunday, June 11th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus 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.
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.