Atlantic Trust Group LLC Purchases 12,173 Shares of Praxair, Inc. (PX)
Atlantic Trust Group LLC boosted its position in Praxair, Inc. (NYSE:PX) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 910,983 shares of the basic materials company’s stock after acquiring an additional 12,173 shares during the period. Atlantic Trust Group LLC owned 0.32% of Praxair worth $127,300,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its stake in Praxair by 0.5% in the second quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock valued at $321,000 after buying an additional 13 shares during the period. Tortoise Investment Management LLC raised its position in shares of Praxair by 3.9% during the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 31 shares during the period. Elkhorn Investments LLC raised its position in shares of Praxair by 0.3% during the second quarter. Elkhorn Investments LLC now owns 9,265 shares of the basic materials company’s stock worth $1,206,000 after purchasing an additional 31 shares during the period. ZWJ Investment Counsel Inc. raised its position in shares of Praxair by 2.6% during the second quarter. ZWJ Investment Counsel Inc. now owns 1,796 shares of the basic materials company’s stock worth $238,000 after purchasing an additional 46 shares during the period. Finally, Peapack Gladstone Financial Corp raised its position in shares of Praxair by 1.3% during the second quarter. Peapack Gladstone Financial Corp now owns 4,576 shares of the basic materials company’s stock worth $607,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 85.55% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Deutsche Bank raised Praxair from a “hold” rating to a “buy” rating and lifted their target price for the company from $155.00 to $175.00 in a research report on Tuesday. Jefferies Group set a $186.00 target price on Praxair and gave the company a “buy” rating in a research report on Monday, December 11th. Barclays lifted their target price on Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a research report on Friday, October 27th. SunTrust Banks reissued a “buy” rating and issued a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. Finally, UBS lifted their target price on Praxair to $176.00 and gave the company a “buy” rating in a research report on Friday, December 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Praxair presently has an average rating of “Hold” and an average price target of $158.64.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the company posted $1.41 EPS. The business’s revenue was up 7.6% on a year-over-year basis. research analysts anticipate that Praxair, Inc. will post 5.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, December 7th were paid a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Wednesday, December 6th. Praxair’s dividend payout ratio (DPR) is currently 56.05%.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the 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 completion of the sale, the director now directly owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
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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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