Praxair, Inc. (PX) Shares Sold by Cigna Investments Inc. New
Cigna Investments Inc. New reduced its position in Praxair, Inc. (NYSE:PX) by 5.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,058 shares of the basic materials company’s stock after selling 690 shares during the period. Cigna Investments Inc. New’s holdings in Praxair were worth $1,466,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Rockland Trust Co. increased 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. Sky Investment Group LLC increased its stake in Praxair by 1.6% in the first quarter. Sky Investment Group LLC now owns 36,744 shares of the basic materials company’s stock worth $4,358,000 after buying an additional 570 shares during the period. Moody National Bank Trust Division increased its stake in Praxair by 0.6% in the first quarter. Moody National Bank Trust Division now owns 7,542 shares of the basic materials company’s stock worth $895,000 after buying an additional 42 shares during the period. Rothschild Investment Corp IL increased its stake in Praxair by 0.5% in the first quarter. Rothschild Investment Corp IL now owns 8,044 shares of the basic materials company’s stock worth $954,000 after buying an additional 42 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Praxair during the first quarter worth $196,000. Hedge funds and other institutional investors own 84.86% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) opened at 131.21 on Tuesday. The stock’s 50 day moving average price is $132.34 and its 200-day moving average price is $126.22. Praxair, Inc. has a 12 month low of $114.43 and a 12 month high of $138.69. The firm has a market cap of $37.53 billion, a P/E ratio of 24.57 and a beta of 0.93.
Praxair (NYSE:PX) last announced its quarterly earnings data 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. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the firm earned $1.39 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The firm also recently disclosed 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. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.40%. Praxair’s payout ratio is presently 58.88%.
A number of equities research analysts have weighed in on PX shares. Zacks Investment Research downgraded Praxair from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Barclays PLC upped their target price on 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 restated a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Jefferies Group LLC reiterated 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, Vertical Group upgraded Praxair to a “hold” rating and increased their price objective for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Two 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. The company currently 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.
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.