Colony Group LLC Invests $400,000 in Praxair, Inc. (PX)
Colony Group LLC purchased a new position in Praxair, Inc. (NYSE:PX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 3,014 shares of the basic materials company’s stock, valued at approximately $400,000.
Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in shares of Praxair by 19.1% in the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 123 shares in the last quarter. BB&T Investment Services Inc. acquired a new position in shares of Praxair in the second quarter worth about $106,000. Exane Derivatives acquired a new position in shares of Praxair in the second quarter worth about $109,000. Tortoise Investment Management LLC lifted its stake in shares of Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 31 shares in the last quarter. Finally, Sandy Spring Bank lifted its stake in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 85.30% of the company’s stock.
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Several research analysts recently commented on PX shares. Zacks Investment Research upgraded Praxair from a “sell” rating to a “buy” rating and set a $148.00 price target on the stock in a research note on Monday, July 31st. BidaskClub cut Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Jefferies Group LLC restated a “buy” rating and set a $162.00 price objective on shares of Praxair in a research note on Wednesday, June 21st. KeyCorp restated a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. Finally, UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Praxair has an average rating of “Hold” and an average price target of $138.00.
Praxair, Inc. (NYSE PX) traded down 1.2671% during trading on Monday, hitting $140.4081. The stock had a trading volume of 147,821 shares. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $142.97. The stock has a 50-day moving average price of $136.86 and a 200-day moving average price of $131.39. The company has a market cap of $40.16 billion, a PE ratio of 26.2936 and a beta of 0.95.
Praxair (NYSE:PX) last released 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. 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 analysts’ expectations of $2.80 billion. During the same quarter last year, the company earned $1.39 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. Equities analysts predict that Praxair, Inc. will post $5.47 EPS for the current year.
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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