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%.

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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.

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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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