Checchi Capital Advisers LLC Trims Position in Praxair, Inc. (PX)
Checchi Capital Advisers LLC decreased its stake in shares of Praxair, Inc. (NYSE:PX) by 18.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,092 shares of the basic materials company’s stock after selling 462 shares during the period. Checchi Capital Advisers LLC’s holdings in Praxair were worth $292,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asia Hong Kong Ltd acquired a new position in Praxair during the 1st quarter worth about $233,000. Capital Management Corp VA lifted its position in Praxair by 0.6% during the 2nd quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock valued at $248,000 after purchasing an additional 11 shares during the period. Federated Investors Inc. PA lifted its position in Praxair by 47.3% during the 2nd quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock valued at $1,333,000 after purchasing an additional 3,228 shares during the period. Seven Eight Capital LP acquired a new position in Praxair during the 2nd quarter valued at about $1,286,000. Finally, Mosaic Family Wealth LLC lifted its position in Praxair by 6.3% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock valued at $173,000 after purchasing an additional 77 shares during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) traded down $0.01 during trading hours on Monday, hitting $147.49. 132,318 shares of the company were exchanged, compared to its average volume of 1,190,000. The firm has a market cap of $42,230.00, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 2.20 and a beta of 0.99. The company has a quick ratio of 0.91, a current ratio of 1.11 and a debt-to-equity ratio of 1.22. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $149.91.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. Praxair’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company 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 declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be given a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.14%. Praxair’s dividend payout ratio is 56.05%.
A number of research firms have issued reports on PX. Zacks Investment Research downgraded shares of Praxair from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. SunTrust Banks, Inc. restated a “buy” rating and set a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. BidaskClub downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Citigroup Inc. upgraded shares of Praxair from a “neutral” rating to a “buy” rating and upped their target price for the company from $137.00 to $168.00 in a research report on Monday, October 30th. Finally, KeyCorp restated a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $147.08.
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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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