Investors Sell Shares of Praxair, Inc. (PX) on Strength (PX)
Investors sold shares of Praxair, Inc. (NYSE:PX) on strength during trading on Monday. $26.14 million flowed into the stock on the tick-up and $79.94 million flowed out of the stock on the tick-down, for a money net flow of $53.80 million out of the stock. Of all stocks tracked, Praxair had the 0th highest net out-flow for the day. Praxair traded up $0.23 for the day and closed at $150.87
A number of research firms have weighed in on PX. Barclays PLC increased their price target on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $162.00 price target on shares of Praxair in a research note on Friday, October 27th. J P Morgan Chase & Co increased their price target on shares of Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Susquehanna Bancshares Inc increased their price target on shares of Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Finally, Argus raised shares of Praxair from a “hold” rating to a “buy” rating and set a $171.00 price target on the stock in a research note on Monday, November 13th. Two research 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’s stock. Praxair presently has an average rating of “Hold” and an average target price of $151.36.
The stock has a market capitalization of $43,194.88, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 2.25 and a beta of 0.99. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.06. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $1.41 EPS. sell-side analysts predict that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 2.08%. The ex-dividend date is Wednesday, December 6th. Praxair’s dividend payout ratio is currently 56.05%.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in shares of Praxair by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 207,932 shares of the basic materials company’s stock worth $29,056,000 after buying an additional 728 shares during the last quarter. Cypress Capital Group bought a new position in shares of Praxair in the 3rd quarter worth about $203,000. IFM Investors Pty Ltd bought a new position in shares of Praxair in the 3rd quarter worth about $1,125,000. Fieldpoint Private Securities LLC lifted its position in shares of Praxair by 139.3% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 2,166 shares of the basic materials company’s stock worth $303,000 after buying an additional 1,261 shares during the last quarter. Finally, Scoggin Management LP lifted its position in shares of Praxair by 150.0% in the 3rd quarter. Scoggin Management LP now owns 125,000 shares of the basic materials company’s stock worth $17,468,000 after buying an additional 75,000 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.
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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