Addenda Capital Inc. Has $2.02 Million Position in Praxair, Inc. (PX)
Addenda Capital Inc. reduced its stake in Praxair, Inc. (NYSE:PX) by 5.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,048 shares of the basic materials company’s stock after selling 795 shares during the quarter. Addenda Capital Inc.’s holdings in Praxair were worth $2,019,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Hikari Power Ltd lifted its holdings in Praxair by 0.5% in the 4th quarter. Hikari Power Ltd now owns 151,740 shares of the basic materials company’s stock worth $23,471,000 after purchasing an additional 720 shares during the last quarter. First American Trust FSB lifted its holdings in Praxair by 29.8% in the 4th quarter. First American Trust FSB now owns 32,805 shares of the basic materials company’s stock worth $5,075,000 after purchasing an additional 7,540 shares during the last quarter. Windward Capital Management Co. CA lifted its holdings in Praxair by 2.7% in the 4th quarter. Windward Capital Management Co. CA now owns 91,283 shares of the basic materials company’s stock worth $14,119,000 after purchasing an additional 2,388 shares during the last quarter. DnB Asset Management AS lifted its holdings in Praxair by 2.8% in the 4th quarter. DnB Asset Management AS now owns 32,803 shares of the basic materials company’s stock worth $5,074,000 after purchasing an additional 900 shares during the last quarter. Finally, Confluence Investment Management LLC lifted its holdings in Praxair by 1.9% in the 4th quarter. Confluence Investment Management LLC now owns 747,005 shares of the basic materials company’s stock worth $115,547,000 after purchasing an additional 14,177 shares during the last quarter. Hedge funds and other institutional investors own 85.48% of the company’s stock.
Several research firms recently weighed in on PX. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $182.00 target price for the company in a report on Thursday. Deutsche Bank upgraded Praxair from a “hold” rating to a “buy” rating and boosted their target price for the stock from $155.00 to $175.00 in a report on Tuesday, December 19th. Jefferies Group set a $186.00 price target on Praxair and gave the stock a “buy” rating in a research report on Monday, December 11th. Barclays lifted their price target on Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, October 27th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $162.00 price target on shares of Praxair in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $159.86.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.06. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 EPS. equities analysts anticipate that Praxair, Inc. will post 5.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, December 7th were given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Wednesday, December 6th. Praxair’s dividend payout ratio is presently 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the sale, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
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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