Bp Plc Holds Position in Praxair, Inc. (PX)
Bp Plc continued to hold its stake in shares of Praxair, Inc. (NYSE:PX) during the first quarter, Holdings Channel reports. The institutional investor owned 35,000 shares of the basic materials company’s stock at the end of the first quarter. Bp Plc’s holdings in Praxair were worth $4,151,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the company. Bessemer Group Inc. boosted its position in shares of Praxair by 7.7% in the fourth quarter. Bessemer Group Inc. now owns 2,219 shares of the basic materials company’s stock valued at $260,000 after buying an additional 159 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Praxair by 4.3% in the fourth quarter. Wetherby Asset Management Inc. now owns 7,034 shares of the basic materials company’s stock valued at $824,000 after buying an additional 291 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Praxair by 1.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,958 shares of the basic materials company’s stock valued at $1,050,000 after buying an additional 90 shares in the last quarter. State Street Corp boosted its position in shares of Praxair by 3.9% in the fourth quarter. State Street Corp now owns 13,745,641 shares of the basic materials company’s stock valued at $1,610,853,000 after buying an additional 513,906 shares in the last quarter. Finally, FNY Partners Fund LP acquired a new position in shares of Praxair during the fourth quarter valued at $181,000. Institutional investors own 85.85% of the company’s stock.
Shares of Praxair, Inc. (NYSE PX) opened at 136.00 on Friday. The company has a market capitalization of $38.81 billion, a P/E ratio of 25.56 and a beta of 0.94. Praxair, Inc. has a one year low of $106.31 and a one year high of $138.69. The firm has a 50-day moving average of $131.06 and a 200-day moving average of $121.79.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, April 27th. The basic materials company reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.62 billion. Praxair had a net margin of 14.26% and a return on equity of 28.42%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.28 earnings per share. Analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Wednesday, June 7th were issued a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 2.32%. The ex-dividend date was Monday, June 5th. Praxair’s payout ratio is 59.10%.
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Several research analysts have recently weighed in on PX shares. Barclays PLC lifted their price target on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. J P Morgan Chase & Co reiterated an “overweight” rating and set a $156.00 price target (up previously from $130.00) on shares of Praxair in a research note on Sunday, June 11th. Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $150.00 in a research note on Wednesday, June 7th. Zacks Investment Research cut shares of Praxair from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Finally, Vertical Group upgraded shares of Praxair to a “hold” rating and lifted their target price for the company from $123.00 to $127.00 in a research note on Wednesday, June 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $130.77.
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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