BlueMountain Capital Management LLC Acquires 331 Shares of Praxair, Inc. (PX)
BlueMountain Capital Management LLC grew its holdings in Praxair, Inc. (NYSE:PX) by 35.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,264 shares of the basic materials company’s stock after purchasing an additional 331 shares during the period. BlueMountain Capital Management LLC’s holdings in Praxair were worth $168,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of PX. HPM Partners LLC acquired a new stake in shares of Praxair in the first quarter valued at approximately $921,000. Nuance Investments LLC raised its holdings in shares of Praxair by 7.7% in the first quarter. Nuance Investments LLC now owns 524,938 shares of the basic materials company’s stock valued at $62,258,000 after purchasing an additional 37,649 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Praxair by 8.5% in the first quarter. Checchi Capital Advisers LLC now owns 2,758 shares of the basic materials company’s stock valued at $327,000 after purchasing an additional 216 shares during the last quarter. Davis R M Inc. raised its holdings in shares of Praxair by 2.8% in the first quarter. Davis R M Inc. now owns 192,297 shares of the basic materials company’s stock valued at $22,806,000 after purchasing an additional 5,220 shares during the last quarter. Finally, AKO Capital LLP raised its holdings in shares of Praxair by 23.9% in the first quarter. AKO Capital LLP now owns 363,478 shares of the basic materials company’s stock valued at $43,108,000 after purchasing an additional 70,094 shares during the last quarter. Institutional investors own 85.33% of the company’s stock.
A number of analysts have recently issued reports on the stock. Vertical Research upgraded shares of Praxair to a “hold” rating and lifted their price objective for the company from $123.00 to $127.00 in a report on Wednesday, June 7th. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 target price (up from $140.00) on shares of Praxair in a research note on Saturday, June 3rd. BidaskClub cut shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. Finally, Zacks Investment Research cut shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $138.00.
Praxair, Inc. (NYSE:PX) opened at 137.60 on Friday. The firm’s 50-day moving average is $131.77 and its 200-day moving average is $128.42. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69. The company has a market capitalization of $39.36 billion, a PE ratio of 25.77 and a beta of 0.93.
Praxair (NYSE:PX) last released its quarterly earnings results 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 business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. Praxair’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.39 EPS. On average, equities research analysts forecast that Praxair, Inc. will post $5.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Wednesday, September 6th. Praxair’s dividend payout ratio is presently 58.88%.
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.
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.