Connors Investor Services Inc. Purchases 2,366 Shares of Praxair, Inc. (PX)
Connors Investor Services Inc. lifted its position in shares of Praxair, Inc. (NYSE:PX) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,948 shares of the basic materials company’s stock after purchasing an additional 2,366 shares during the quarter. Praxair makes up about 1.4% of Connors Investor Services Inc.’s investment portfolio, making the stock its 27th largest position. Connors Investor Services Inc.’s holdings in Praxair were worth $8,741,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Sandy Spring Bank boosted its stake in Praxair by 31.2% in the 1st quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after buying an additional 200 shares in the last quarter. Parallel Advisors LLC boosted its stake in Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after buying an additional 123 shares in the last quarter. Exane Derivatives acquired a new stake in Praxair in the 2nd quarter valued at $109,000. Tortoise Investment Management LLC boosted its stake in Praxair by 3.9% in the 2nd 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 in the last quarter. Finally, Pacific Center for Financial Services boosted its stake in Praxair by 65.7% in the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after buying an additional 356 shares in the last quarter. 85.33% of the stock is currently owned by institutional investors.
Praxair, Inc. (PX) traded down 0.48% during midday trading on Friday, hitting $137.90. The stock had a trading volume of 214,873 shares. The company has a market capitalization of $39.44 billion, a PE ratio of 25.82 and a beta of 0.93. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69. The company’s 50-day moving average price is $131.77 and its 200 day moving average price is $128.42.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.39 EPS. On average, analysts expect that Praxair, Inc. will post $5.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 8th were issued a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Wednesday, September 6th. Praxair’s dividend payout ratio is presently 58.88%.
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PX has been the topic of several recent analyst reports. UBS AG raised Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. BidaskClub downgraded Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. KeyCorp reiterated a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd. Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Finally, Susquehanna Bancshares Inc upgraded Praxair from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $131.00 to $155.00 in a research report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $138.00.
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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