Green Valley Investors LLC Has $40.59 Million Position in Praxair, Inc. (PX)
Green Valley Investors LLC lowered its position in shares of Praxair, Inc. (NYSE:PX) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,227 shares of the basic materials company’s stock after selling 11,987 shares during the period. Praxair accounts for approximately 2.0% of Green Valley Investors LLC’s portfolio, making the stock its 20th largest position. Green Valley Investors LLC owned 0.11% of Praxair worth $40,590,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Sandy Spring Bank lifted 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 valued at $100,000 after acquiring an additional 200 shares during the last quarter. Parallel Advisors LLC lifted its position in Praxair by 19.1% in the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 123 shares during the last quarter. Exane Derivatives purchased a new stake in Praxair in the second quarter valued at $109,000. Tortoise Investment Management LLC lifted its position in Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after acquiring an additional 31 shares during the last quarter. Finally, Capital Analysts LLC lifted 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 valued at $120,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.
PX has been the subject of a number of research reports. UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. BidaskClub cut shares of Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. KeyCorp reissued a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Finally, Susquehanna Bancshares Inc raised shares of Praxair from a “neutral” rating to a “positive” rating and boosted their price target for the company from $131.00 to $155.00 in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $138.00.
Shares of Praxair, Inc. (NYSE:PX) opened at 134.13 on Friday. The stock has a 50 day moving average of $131.48 and a 200-day moving average of $127.93. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The stock has a market capitalization of $38.36 billion, a PE ratio of 25.12 and a beta of 0.93.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the business posted $1.39 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current fiscal 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 issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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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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