Praxair, Inc. (PX) Stake Boosted by Nationwide Fund Advisors
Nationwide Fund Advisors lifted its holdings in Praxair, Inc. (NYSE:PX) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 121,122 shares of the basic materials company’s stock after acquiring an additional 6,342 shares during the period. Nationwide Fund Advisors’ holdings in Praxair were worth $16,926,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PX. Kistler Tiffany Companies LLC boosted its stake in Praxair by 149.8% during the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after buying an additional 430 shares during the last quarter. Parallel Advisors LLC boosted its stake in Praxair by 19.1% during the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after buying an additional 123 shares during the last quarter. BB&T Investment Services Inc. bought a new position in Praxair during the second quarter valued at approximately $106,000. Tortoise Investment Management LLC boosted its stake in Praxair by 3.9% during the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after buying an additional 31 shares during the last quarter. Finally, Pacific Center for Financial Services boosted its stake in Praxair by 65.7% during the second quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after buying an additional 356 shares during the last quarter. 87.06% of the stock is owned by hedge funds and other institutional investors.
Praxair, Inc. (PX) traded down $1.19 during trading hours on Thursday, hitting $155.17. The stock had a trading volume of 1,301,600 shares, compared to its average volume of 1,321,248. The company has a market cap of $44,766.70, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 2.33 and a beta of 0.99. Praxair, Inc. has a 1-year low of $115.00 and a 1-year high of $156.40. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company earned $1.41 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. analysts expect that Praxair, Inc. will post 5.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be issued a $0.7875 dividend. The ex-dividend date is Wednesday, December 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.03%. Praxair’s payout ratio is 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was 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 $1,957,890.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.23% of the company’s stock.
A number of equities analysts recently commented on PX shares. Susquehanna Bancshares increased their price target on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Argus raised Praxair from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a research note on Monday, November 13th. SunTrust Banks reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Friday, October 27th. Jefferies Group reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Thursday, October 19th. Finally, Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $154.31.
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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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