Boston Research & Management Inc. Acquires 500 Shares of Praxair, Inc. (PX)
Boston Research & Management Inc. grew its holdings in shares of Praxair, Inc. (NYSE:PX) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,620 shares of the basic materials company’s stock after acquiring an additional 500 shares during the period. Boston Research & Management Inc.’s holdings in Praxair were worth $2,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Praxair by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock worth $2,757,471,000 after buying an additional 523,022 shares during the period. Capital World Investors boosted its holdings in Praxair by 4.3% in the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock worth $2,297,403,000 after buying an additional 716,835 shares during the period. Egerton Capital UK LLP boosted its holdings in Praxair by 24.0% in the 3rd quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock worth $473,016,000 after buying an additional 655,456 shares during the period. CI Global Investments Inc. boosted its holdings in Praxair by 2.2% in the 3rd quarter. CI Global Investments Inc. now owns 1,976,870 shares of the basic materials company’s stock worth $276,248,000 after buying an additional 43,093 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its holdings in Praxair by 3.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,538,256 shares of the basic materials company’s stock worth $203,896,000 after buying an additional 56,644 shares during the period. 84.82% of the stock is owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (NYSE PX) traded up $1.16 during mid-day trading on Friday, reaching $152.88. 807,793 shares of the company’s stock traded hands, compared to its average volume of 1,430,000. The stock has a market cap of $43,770.00, a PE ratio of 26.63, a P/E/G ratio of 2.28 and a beta of 0.99. Praxair, Inc. has a 1-year low of $115.00 and a 1-year high of $153.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.44 by $0.06. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. research analysts forecast that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be paid a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s payout ratio is currently 56.05%.
PX has been the subject of several recent analyst reports. Susquehanna Bancshares Inc raised shares of Praxair from a “neutral” rating to a “positive” rating and upped their target price for the stock from $131.00 to $155.00 in a report on Thursday, September 7th. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a report on Monday, November 6th. UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a report on Thursday, September 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price on shares of Praxair in a report on Thursday, October 19th. Finally, J P Morgan Chase & Co upped their target price on shares of Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $151.36.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the sale, the director now owns 16,697 shares in the company, valued at approximately $1,957,890.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.
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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