Seaward Management Limited Partnership Has $8,563,000 Position in Praxair Inc. (PX)
Seaward Management Limited Partnership cut its stake in shares of Praxair Inc. (NYSE:PX) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,195 shares of the company’s stock after selling 7,139 shares during the period. Seaward Management Limited Partnership’s holdings in Praxair were worth $8,563,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PX. Atlanta Capital Management Co. L L C boosted its stake in Praxair by 2.9% in the first quarter. Atlanta Capital Management Co. L L C now owns 392,677 shares of the company’s stock valued at $44,942,000 after buying an additional 11,120 shares during the period. AMP Capital Investors Ltd boosted its stake in Praxair by 1.0% in the first quarter. AMP Capital Investors Ltd now owns 79,465 shares of the company’s stock valued at $9,140,000 after buying an additional 800 shares during the period. EP Wealth Advisors Inc. acquired a new stake in Praxair during the first quarter valued at approximately $218,000. Envestnet Asset Management Inc. boosted its stake in Praxair by 9.9% in the first quarter. Envestnet Asset Management Inc. now owns 152,624 shares of the company’s stock valued at $17,468,000 after buying an additional 13,772 shares during the period. Finally, Scotia Capital Inc. boosted its stake in Praxair by 7.0% in the first quarter. Scotia Capital Inc. now owns 3,157 shares of the company’s stock valued at $361,000 after buying an additional 207 shares during the period. 83.84% of the stock is owned by hedge funds and other institutional investors.
Shares of Praxair Inc. (NYSE:PX) traded down 0.17% during trading on Tuesday, hitting $117.61. The company’s stock had a trading volume of 778,365 shares. The company has a market capitalization of $33.55 billion, a P/E ratio of 21.41 and a beta of 0.90. The firm’s 50 day moving average is $119.61 and its 200-day moving average is $115.19. Praxair Inc. has a 1-year low of $95.60 and a 1-year high of $125.00.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.03. The firm earned $2.70 billion during the quarter, compared to the consensus estimate of $2.60 billion. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.45 EPS. Analysts forecast that Praxair Inc. will post $5.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s dividend payout ratio is currently 54.55%.
PX has been the subject of several recent analyst reports. Jefferies Group restated a “buy” rating on shares of Praxair in a report on Wednesday, July 6th. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Barclays PLC lifted their price target on Praxair from $120.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. Morgan Stanley initiated coverage on Praxair in a report on Tuesday, September 13th. They issued an “equal weight” rating and a $125.00 price target for the company. Finally, Citigroup Inc. lifted their price target on Praxair from $120.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $118.57.
Praxair Company Profile
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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