Praxair, Inc. (PX) Position Trimmed by Nichols & Pratt Advisers LLP MA
Nichols & Pratt Advisers LLP MA trimmed its position in shares of Praxair, Inc. (NYSE:PX) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,450 shares of the basic materials company’s stock after selling 1,245 shares during the period. Praxair makes up 1.9% of Nichols & Pratt Advisers LLP MA’s portfolio, making the stock its 18th biggest position. Nichols & Pratt Advisers LLP MA owned 0.05% of Praxair worth $21,179,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PX. Point72 Asia Hong Kong Ltd bought a new position in Praxair during the 1st quarter valued at $233,000. Federated Investors Inc. PA boosted its stake in Praxair by 47.3% during the 2nd quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock valued at $1,333,000 after acquiring an additional 3,228 shares during the last quarter. Seven Eight Capital LP bought a new position in Praxair during the 2nd quarter valued at $1,286,000. Mosaic Family Wealth LLC boosted its stake in Praxair by 6.3% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock valued at $173,000 after acquiring an additional 77 shares during the last quarter. Finally, Coho Partners Ltd. boosted its stake in Praxair by 776.9% during the 2nd quarter. Coho Partners Ltd. now owns 16,073 shares of the basic materials company’s stock valued at $2,130,000 after acquiring an additional 14,240 shares during the last quarter. 84.82% of the stock is owned by institutional investors and hedge funds.
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In related news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the sale, the director now directly owns 16,697 shares in the company, valued at approximately $1,957,890.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) traded up $0.25 during trading hours on Monday, reaching $150.89. 479,788 shares of the company traded hands, compared to its average volume of 1,309,044. The company has a market cap of $43,130.00, a P/E ratio of 26.24, a PEG ratio of 2.25 and a beta of 0.99. Praxair, Inc. has a 12-month low of $115.00 and a 12-month high of $151.44. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.06. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. Praxair’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $1.41 EPS. sell-side analysts anticipate that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be given a $0.7875 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 annualized dividend and a yield of 2.09%. Praxair’s dividend payout ratio is presently 56.05%.
A number of research firms have commented on PX. Zacks Investment Research downgraded shares of Praxair from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $162.00 price objective on shares of Praxair in a research note on Friday, October 27th. BidaskClub downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Citigroup Inc. upgraded shares of Praxair from a “neutral” rating to a “buy” rating and raised their price target for the stock from $137.00 to $168.00 in a research report on Monday, October 30th. Finally, Susquehanna Bancshares Inc raised their price target on shares of Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Praxair currently has a consensus rating of “Hold” and an average price target of $151.36.
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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