Dividend Assets Capital LLC Sells 440 Shares of Praxair, Inc. (PX)
Dividend Assets Capital LLC cut its holdings in shares of Praxair, Inc. (NYSE:PX) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,360 shares of the basic materials company’s stock after selling 440 shares during the quarter. Dividend Assets Capital LLC’s holdings in Praxair were worth $1,448,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Management Corp VA raised its stake in Praxair by 0.6% during the second quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 11 shares during the period. Salem Investment Counselors Inc. raised its stake in Praxair by 0.5% during the second quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 13 shares during the period. Security National Bank of SO Dak raised its stake in Praxair by 0.3% during the first quarter. Security National Bank of SO Dak now owns 11,157 shares of the basic materials company’s stock worth $1,323,000 after purchasing an additional 28 shares during the period. Tortoise Investment Management LLC raised its stake in Praxair by 3.9% during the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 31 shares during the period. Finally, Elkhorn Investments LLC raised its stake in Praxair by 0.3% during the second quarter. Elkhorn Investments LLC now owns 9,265 shares of the basic materials company’s stock worth $1,206,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 85.53% of the company’s stock.
Praxair, Inc. (PX) traded down $0.13 during midday trading on Tuesday, reaching $148.15. 1,455,900 shares of the company’s stock traded hands, compared to its average volume of 1,297,747. 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 12 month low of $115.00 and a 12 month high of $150.25. The firm has a market cap of $42,453.35, a PE ratio of 25.83, a PEG ratio of 2.21 and a beta of 0.99.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the business posted $1.41 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. sell-side analysts predict 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. Shareholders of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 2.13%. The ex-dividend date is Wednesday, December 6th. Praxair’s dividend payout ratio (DPR) is presently 56.05%.
A number of research firms have recently issued reports on PX. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. BidaskClub downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. KeyCorp reissued a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. Finally, Susquehanna Bancshares Inc raised shares of Praxair from a “neutral” rating to a “positive” rating and boosted their price target for the company from $131.00 to $155.00 in a research note on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $150.21.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the transaction, the director now owns 16,697 shares in the company, valued at approximately $1,957,890.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.23% of the company’s stock.
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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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