Pacific Center for Financial Services Grows Position in Praxair, Inc. (PX)
Pacific Center for Financial Services lifted its position in Praxair, Inc. (NYSE:PX) by 65.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 898 shares of the basic materials company’s stock after acquiring an additional 356 shares during the period. Pacific Center for Financial Services’ holdings in Praxair were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PX. BlackRock Inc. increased its position in shares of Praxair by 2,091.9% in the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after acquiring an additional 16,839,374 shares during the period. Renaissance Technologies LLC increased its position in shares of Praxair by 287.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock valued at $185,099,000 after acquiring an additional 1,158,100 shares during the period. CI Global Investments Inc. increased its position in shares of Praxair by 141.4% in the 2nd quarter. CI Global Investments Inc. now owns 1,933,777 shares of the basic materials company’s stock valued at $256,322,000 after acquiring an additional 1,132,606 shares during the period. MARSHALL WACE ASIA Ltd acquired a new position in shares of Praxair in the 1st quarter valued at $55,637,000. Finally, Wellington Management Group LLP increased its position in shares of Praxair by 6.2% in the 1st quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock valued at $900,147,000 after acquiring an additional 446,016 shares during the period. 85.33% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on PX. BidaskClub raised Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Zacks Investment Research downgraded Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Vertical Research raised Praxair to a “hold” rating and increased their price target for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Vertical Group raised Praxair to a “hold” rating and increased their price target for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Finally, UBS AG raised Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $138.00.
Praxair, Inc. (NYSE:PX) traded up 1.02% during midday trading on Wednesday, hitting $137.90. 280,804 shares of the stock traded hands. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The company’s 50 day moving average is $131.77 and its 200-day moving average is $128.42. The company has a market cap of $39.44 billion, a P/E ratio of 25.82 and a beta of 0.93.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The company 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%. Praxair’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.39 earnings per share. On average, equities research analysts forecast that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were paid a dividend of $0.7875 per share. The ex-dividend date was Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.31%. Praxair’s dividend payout ratio (DPR) is 58.88%.
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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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