Norris Perne & French LLP MI Sells 2,587 Shares of Praxair Inc. (PX)
Norris Perne & French LLP MI lowered its stake in Praxair Inc. (NYSE:PX) by 4.1% during the second quarter, Holdings Channel reports. The firm owned 61,070 shares of the company’s stock after selling 2,587 shares during the period. Praxair comprises approximately 1.5% of Norris Perne & French LLP MI’s investment portfolio, making the stock its 27th largest position. Norris Perne & French LLP MI’s holdings in Praxair were worth $6,864,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the company. State Street Corp boosted its position in Praxair by 2.4% in the first quarter. State Street Corp now owns 12,545,803 shares of the company’s stock valued at $1,435,875,000 after buying an additional 289,196 shares in the last quarter. BlackRock Fund Advisors boosted its position in Praxair by 1.3% in the first quarter. BlackRock Fund Advisors now owns 3,558,822 shares of the company’s stock valued at $407,307,000 after buying an additional 46,970 shares in the last quarter. Geode Capital Management LLC boosted its position in Praxair by 2.2% in the first quarter. Geode Capital Management LLC now owns 2,234,659 shares of the company’s stock valued at $255,221,000 after buying an additional 48,555 shares in the last quarter. Legal & General Group Plc boosted its position in Praxair by 3.2% in the first quarter. Legal & General Group Plc now owns 1,305,158 shares of the company’s stock valued at $149,380,000 after buying an additional 39,944 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new position in Praxair during the first quarter valued at about $72,332,000. Institutional investors and hedge funds own 83.84% of the company’s stock.
Shares of Praxair Inc. (NYSE:PX) traded up 0.11% during mid-day trading on Monday, reaching $117.81. 847,338 shares of the company were exchanged. Praxair Inc. has a 12 month low of $95.60 and a 12 month high of $125.00. The firm has a market capitalization of $33.60 billion, a PE ratio of 21.45 and a beta of 0.90. The company’s 50 day moving average price is $119.56 and its 200 day moving average price is $115.13.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.03. Praxair had a net margin of 15.09% and a return on equity of 31.66%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the business earned $1.45 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. Equities analysts anticipate that Praxair Inc. will post $5.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 8th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.55%. Praxair’s dividend payout ratio is currently 54.55%.
PX has been the subject of several analyst reports. TheStreet raised shares of Praxair from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Morgan Stanley initiated coverage on shares of Praxair in a report on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 price target for the company. Barclays PLC increased their price target on shares of Praxair from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, July 29th. Citigroup Inc. cut their price target on shares of Praxair from $123.00 to $122.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Finally, Jefferies Group reissued a “buy” rating on shares of Praxair in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $118.57.
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. 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, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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