Ferguson Wellman Capital Management Inc. Purchases Shares of 1,627 Praxair, Inc. (NYSE:PX)
Ferguson Wellman Capital Management Inc. purchased a new stake in Praxair, Inc. (NYSE:PX) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,627 shares of the basic materials company’s stock, valued at approximately $216,000.
Several other institutional investors have also bought and sold shares of the company. DnB Asset Management AS boosted its stake in Praxair by 21.1% in the first quarter. DnB Asset Management AS now owns 33,903 shares of the basic materials company’s stock valued at $4,021,000 after buying an additional 5,900 shares during the last quarter. Somerset Trust Co boosted its stake in Praxair by 2.0% in the first quarter. Somerset Trust Co now owns 9,919 shares of the basic materials company’s stock valued at $1,177,000 after buying an additional 196 shares during the last quarter. Lodestar Investment Counsel LLC IL purchased a new stake in Praxair during the first quarter valued at about $231,000. Harvey Investment Co. LLC boosted its stake in Praxair by 0.9% in the first quarter. Harvey Investment Co. LLC now owns 6,482 shares of the basic materials company’s stock valued at $769,000 after buying an additional 55 shares during the last quarter. Finally, Washington Trust Bank boosted its stake in Praxair by 16.4% in the first quarter. Washington Trust Bank now owns 15,200 shares of the basic materials company’s stock valued at $1,803,000 after buying an additional 2,143 shares during the last quarter. 85.53% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (PX) opened at 127.44 on Friday. The firm has a market capitalization of $36.45 billion, a PE ratio of 23.87 and a beta of 0.93. The firm’s 50 day moving average is $132.46 and its 200-day moving average is $125.54. Praxair, Inc. has a 12 month low of $114.43 and a 12 month high of $138.69.
Praxair (NYSE:PX) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 net margin of 14.10% and a return on equity of 27.93%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.39 EPS. On average, analysts expect that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is 58.88%.
Several research firms recently issued reports on PX. J P Morgan Chase & Co restated an “overweight” rating and set a $156.00 price objective (up from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Vertical Group upgraded shares of Praxair to a “hold” rating and raised their price objective for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. BidaskClub cut shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and set a $162.00 price objective (up from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Finally, Vertical Research upgraded shares of Praxair to a “hold” rating and raised their price objective for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. Praxair has an average 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.
Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair, Inc. (NYSE:PX).
Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.