AHL Partners LLP Cuts Stake in Praxair, Inc. (PX)
AHL Partners LLP trimmed its position in Praxair, Inc. (NYSE:PX) by 17.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,342 shares of the basic materials company’s stock after selling 5,016 shares during the quarter. AHL Partners LLP’s holdings in Praxair were worth $3,094,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Sandy Spring Bank raised its holdings in shares of Praxair by 31.2% in the 1st quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 200 shares during the period. Parallel Advisors LLC raised its holdings in shares of Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 123 shares during the period. Exane Derivatives purchased a new position in shares of Praxair in the 2nd quarter worth about $109,000. Tortoise Investment Management LLC raised its holdings in shares of Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 31 shares during the period. Finally, Pacific Center for Financial Services raised its holdings in shares of Praxair by 65.7% in the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 356 shares during the period. Institutional investors own 85.33% of the company’s stock.
A number of research firms have recently commented on PX. BidaskClub upgraded Praxair from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research downgraded Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Jefferies Group LLC restated a “buy” rating and issued a $162.00 price objective on shares of Praxair in a report on Wednesday, June 21st. KeyCorp restated a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. Finally, UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, nine have given 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.
Shares of Praxair, Inc. (NYSE PX) opened at 140.62 on Wednesday. The firm has a market cap of $40.22 billion, a price-to-earnings ratio of 26.33 and a beta of 0.95. The stock has a 50 day moving average price of $135.94 and a 200-day moving average price of $130.88. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $142.97.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 8th were given a $0.7875 dividend. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.24%. Praxair’s dividend payout ratio is currently 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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