Praxair, Inc. (PX) Position Reduced by Ropes Wealth Advisors LLC
Ropes Wealth Advisors LLC cut its holdings in Praxair, Inc. (NYSE:PX) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,466 shares of the basic materials company’s stock after selling 264 shares during the period. Ropes Wealth Advisors LLC’s holdings in Praxair were worth $1,255,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. HPM Partners LLC acquired a new position in Praxair during the first quarter worth $921,000. Nuance Investments LLC lifted its stake in Praxair by 7.7% during the first quarter. Nuance Investments LLC now owns 524,938 shares of the basic materials company’s stock worth $62,258,000 after purchasing an additional 37,649 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in Praxair by 8.5% during the first quarter. Checchi Capital Advisers LLC now owns 2,758 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 216 shares in the last quarter. Davis R M Inc. lifted its stake in Praxair by 2.8% during the first quarter. Davis R M Inc. now owns 192,297 shares of the basic materials company’s stock worth $22,806,000 after purchasing an additional 5,220 shares in the last quarter. Finally, AKO Capital LLP lifted its stake in Praxair by 23.9% during the first quarter. AKO Capital LLP now owns 363,478 shares of the basic materials company’s stock worth $43,108,000 after purchasing an additional 70,094 shares in the last quarter. Hedge funds and other institutional investors own 85.33% of the company’s stock.
A number of research analysts have commented on the company. BidaskClub cut Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Vertical Group upgraded Praxair to a “hold” rating and upped their price target for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Jefferies Group LLC restated a “buy” rating and set a $162.00 price target (up from $140.00) on shares of Praxair in a research note on Saturday, June 3rd. J P Morgan Chase & Co restated an “overweight” rating and set a $156.00 price target (up from $130.00) on shares of Praxair in a research note on Sunday, June 11th. Finally, Vertical Research upgraded Praxair to a “hold” rating and upped their price target for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Praxair currently has an average rating of “Hold” and an average price target of $138.00.
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Praxair, Inc. (NYSE PX) traded down 0.70% during mid-day trading on Friday, hitting $137.60. The stock had a trading volume of 921,964 shares. The company has a market cap of $39.36 billion, a price-to-earnings ratio of 25.77 and a beta of 0.93. The company has a 50 day moving average price of $131.77 and a 200-day moving average price of $128.42. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69.
Praxair (NYSE:PX) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.39 EPS. Equities analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were issued a dividend of $0.7875 per share. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.29%. Praxair’s payout ratio is 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.
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