Cobblestone Capital Advisors LLC NY Sells 940 Shares of Praxair, Inc. (PX)
Cobblestone Capital Advisors LLC NY decreased its position in shares of Praxair, Inc. (NYSE:PX) by 10.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,962 shares of the basic materials company’s stock after selling 940 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Praxair were worth $1,055,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock worth $2,092,621,000 after buying an additional 16,839,374 shares during the period. State Street Corp boosted its position in shares of Praxair by 0.5% in the first quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock worth $1,639,105,000 after buying an additional 74,856 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Praxair by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 10,901,896 shares of the basic materials company’s stock worth $1,292,964,000 after buying an additional 48,313 shares during the period. Wellington Management Group LLP boosted its position in shares of Praxair by 6.2% in the first quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock worth $900,147,000 after buying an additional 446,016 shares during the period. Finally, Parnassus Investments CA boosted its position in shares of Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock worth $737,895,000 after buying an additional 2,091,079 shares during the period. 85.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (NYSE PX) opened at 131.54 on Friday. The firm has a 50-day moving average of $132.06 and a 200 day moving average of $126.96. The stock has a market capitalization of $37.62 billion, a price-to-earnings ratio of 24.63 and a beta of 0.93. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 EPS. On average, equities research analysts predict that Praxair, Inc. will post $5.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.39%. Praxair’s dividend payout ratio is currently 58.88%.
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PX has been the topic of several recent analyst reports. BidaskClub cut Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 target price on shares of Praxair in a research note on Wednesday, June 21st. J P Morgan Chase & Co reissued an “overweight” rating and issued a $156.00 target price (up from $130.00) on shares of Praxair in a research note on Sunday, June 11th. Finally, Bank of America Corporation raised Praxair from a “neutral” rating to a “buy” rating and raised their target price for the stock from $140.00 to $150.00 in a research note on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $135.00.
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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