Cambridge Investment Research Advisors Inc. Purchases 450 Shares of Praxair, Inc. (PX)
Cambridge Investment Research Advisors Inc. grew its position in shares of Praxair, Inc. (NYSE:PX) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,249 shares of the basic materials company’s stock after acquiring an additional 450 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Praxair were worth $873,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. boosted its position 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 worth $321,000 after purchasing an additional 13 shares during the last quarter. Tortoise Investment Management LLC raised its stake in shares of Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after buying an additional 31 shares during the period. Elkhorn Investments LLC raised its stake in shares of Praxair by 0.3% in the second quarter. Elkhorn Investments LLC now owns 9,265 shares of the basic materials company’s stock valued at $1,206,000 after buying an additional 31 shares during the period. ZWJ Investment Counsel Inc. raised its stake in shares of Praxair by 2.6% in the second quarter. ZWJ Investment Counsel Inc. now owns 1,796 shares of the basic materials company’s stock valued at $238,000 after buying an additional 46 shares during the period. Finally, Greenleaf Trust raised its stake in shares of Praxair by 0.5% in the second quarter. Greenleaf Trust now owns 9,311 shares of the basic materials company’s stock valued at $1,234,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 84.82% of the company’s stock.
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A number of research firms recently issued reports on PX. Barclays PLC boosted their price objective on Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $162.00 price objective on shares of Praxair in a research note on Friday, October 27th. J P Morgan Chase & Co boosted their price objective on Praxair from $145.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. Susquehanna Bancshares Inc boosted their price objective on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Finally, Argus upgraded Praxair from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a research note on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. Praxair has an average rating of “Hold” and a consensus price target of $151.36.
Shares of Praxair, Inc. (NYSE PX) traded up $1.19 during midday trading on Friday, reaching $152.91. The company’s stock had a trading volume of 389,117 shares, compared to its average volume of 1,318,070. The company has a market cap of $43,438.24, a price-to-earnings ratio of 26.43, a P/E/G ratio of 2.26 and a beta of 0.99. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91. Praxair, Inc. has a fifty-two week low of $115.00 and a fifty-two week high of $152.49.
Praxair (NYSE:PX) last announced its earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, topping 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 business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the company earned $1.41 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. sell-side analysts expect that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be issued a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, December 6th. Praxair’s payout ratio is currently 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares in the company, valued at approximately $1,957,890.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by corporate 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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