Daiwa Securities Group Inc. Holds Position in Praxair, Inc. (PX)
Daiwa Securities Group Inc. maintained its stake in shares of Praxair, Inc. (NYSE:PX) during the second quarter, Holdings Channel reports. The fund owned 8,050 shares of the basic materials company’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Praxair were worth $1,067,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of PX. Exane Derivatives bought a new stake in shares of Praxair during the second quarter worth approximately $109,000. Sandy Spring Bank raised its stake in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. V Wealth Management LLC bought a new stake in shares of Praxair during the second quarter worth approximately $124,000. First Command Bank raised its stake in shares of Praxair by 12.6% in the second quarter. First Command Bank now owns 1,003 shares of the basic materials company’s stock worth $133,000 after buying an additional 112 shares in the last quarter. Finally, Capital Analysts LLC raised its stake in shares of Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares in the last quarter. 84.86% of the stock is owned by hedge funds and other institutional investors.
Praxair, Inc. (NYSE PX) opened at 131.47 on Wednesday. The company has a market capitalization of $37.60 billion, a price-to-earnings ratio of 24.62 and a beta of 0.93. The stock has a 50 day moving average price of $132.37 and a 200 day moving average price of $125.81. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. The company had revenue of $2.83 billion during 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 firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.39 earnings per share. On average, analysts expect that Praxair, Inc. will post $5.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is currently 58.88%.
A number of analysts have commented on the company. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub lowered Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Vertical Research raised Praxair to a “hold” rating and boosted their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Vertical Group raised Praxair to a “hold” rating and boosted their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $162.00 price objective on shares of Praxair in a report on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target 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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