American Century Companies Inc. Cuts Stake in Praxair, Inc. (PX)
American Century Companies Inc. decreased its stake in shares of Praxair, Inc. (NYSE:PX) by 66.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,585 shares of the basic materials company’s stock after selling 5,187 shares during the period. American Century Companies Inc.’s holdings in Praxair were worth $361,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in PX. Parallel Advisors LLC raised its holdings in 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 buying an additional 123 shares during the last quarter. Kistler Tiffany Companies LLC raised its holdings in Praxair by 149.8% in the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after buying an additional 430 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in Praxair in the second quarter worth about $106,000. Tortoise Investment Management LLC raised its holdings in 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 buying an additional 31 shares during the last quarter. Finally, Pacific Center for Financial Services raised its holdings in Praxair by 65.7% in the second quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock worth $119,000 after buying an additional 356 shares during the last quarter. 87.06% of the stock is currently owned by hedge funds and other institutional investors.
Praxair, Inc. (NYSE:PX) traded down $2.01 on Friday, hitting $151.87. 2,270,000 shares of the company’s stock were exchanged, compared to its average volume of 1,587,948. The company has a market capitalization of $44,068.11, a price-to-earnings ratio of 26.82, a P/E/G ratio of 2.29 and a beta of 1.00. Praxair, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $156.40. 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 posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, topping 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 company’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 earnings per share. equities research analysts expect that Praxair, Inc. will post 5.81 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be given a dividend of $0.7875 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.07%. Praxair’s dividend payout ratio is 56.05%.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the company’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 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 through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
Several brokerages have issued reports on PX. Barclays lifted their target price on shares of Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a report on Friday, October 27th. SunTrust Banks reissued a “buy” rating and set a $162.00 price objective on shares of Praxair in a report on Friday, October 27th. J P Morgan Chase & Co boosted their price objective on shares of Praxair from $145.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, November 17th. Susquehanna Bancshares boosted their price objective on shares of Praxair from $155.00 to $175.00 in a report on Tuesday, November 7th. Finally, Argus raised shares of Praxair from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a report on Monday, November 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Praxair currently has a consensus rating of “Hold” and an average target price of $154.31.
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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