6,234 Shares in Praxair, Inc. (NYSE:PX) Acquired by Wealth Enhancement Advisory Services LLC
Wealth Enhancement Advisory Services LLC acquired a new position in shares of Praxair, Inc. (NYSE:PX) during the second quarter, Holdings Channel reports. The institutional investor acquired 6,234 shares of the basic materials company’s stock, valued at approximately $830,000.
A number of other large investors also recently added to or reduced their stakes in PX. BlackRock Inc. increased its stake in shares of Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares during the period. Parnassus Investments CA increased its stake in shares of Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares during the period. Renaissance Technologies LLC increased its stake in shares of Praxair by 287.7% in the first quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock valued at $185,099,000 after buying an additional 1,158,100 shares during the period. CI Global Investments Inc. acquired a new stake in shares of Praxair during the first quarter valued at about $95,019,000. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in shares of Praxair during the first quarter valued at about $55,637,000. Institutional investors and hedge funds own 85.53% of the company’s stock.
Praxair, Inc. (NYSE:PX) opened at 127.44 on Friday. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69. The firm has a market capitalization of $36.45 billion, a PE ratio of 23.87 and a beta of 0.93. The stock’s 50 day moving average price is $132.46 and its 200 day moving average price is $125.54.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the company posted $1.39 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be given a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s payout ratio is 58.88%.
Several equities research analysts have issued reports on PX shares. BidaskClub downgraded Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC restated a “buy” rating and issued a $162.00 price target on shares of Praxair in a report on Wednesday, June 21st. Bank of America Corporation upgraded Praxair from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $150.00 in a report on Wednesday, June 7th. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a report on Friday, April 21st. Finally, Barclays PLC increased their price target on Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $135.00.
Praxair Company Profile
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.
Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair, Inc. (NYSE:PX).
Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.