Deroy & Devereaux Private Investment Counsel Inc. Has $919,000 Position in Praxair, Inc. (PX)
Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Praxair, Inc. (NYSE:PX) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 6,930 shares of the basic materials company’s stock after buying an additional 100 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Praxair were worth $919,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of Montreal Can boosted its position in Praxair by 14.1% in the first quarter. Bank of Montreal Can now owns 313,092 shares of the basic materials company’s stock worth $37,134,000 after buying an additional 38,684 shares during the period. Regentatlantic Capital LLC raised its stake in shares of Praxair by 20.0% in the first quarter. Regentatlantic Capital LLC now owns 2,318 shares of the basic materials company’s stock worth $275,000 after buying an additional 387 shares in the last quarter. Cribstone Capital Management LLC raised its stake in shares of Praxair by 49.3% in the first quarter. Cribstone Capital Management LLC now owns 2,360 shares of the basic materials company’s stock worth $280,000 after buying an additional 779 shares in the last quarter. Heritage Investors Management Corp raised its stake in shares of Praxair by 2.6% in the first quarter. Heritage Investors Management Corp now owns 46,197 shares of the basic materials company’s stock worth $5,479,000 after buying an additional 1,173 shares in the last quarter. Finally, Pinnacle Bank bought a new stake in shares of Praxair during the first quarter worth about $224,000. Institutional investors and hedge funds own 84.86% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) opened at 131.06 on Tuesday. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69. The stock has a market capitalization of $37.49 billion, a price-to-earnings ratio of 24.54 and a beta of 0.93. The company has a 50-day moving average of $132.41 and a 200-day moving average of $125.73.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $2.83 billion during 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 quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $1.39 EPS. On average, equities research analysts expect that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s payout ratio is 58.88%.
A number of analysts have recently issued reports on PX shares. Barclays PLC boosted their target price on shares of Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 target price for the company in a research note on Monday, July 31st. BidaskClub lowered shares of Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $162.00 target price on shares of Praxair in a research note on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. Praxair presently has an average rating of “Hold” and an average target price of $135.00.
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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