IFP Advisors Inc Lowers Stake in Praxair, Inc. (PX)
IFP Advisors Inc reduced its stake in Praxair, Inc. (NYSE:PX) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,755 shares of the basic materials company’s stock after selling 193 shares during the period. IFP Advisors Inc’s holdings in Praxair were worth $1,160,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Factory Mutual Insurance Co. boosted its stake in shares of Praxair by 4.3% in the first quarter. Factory Mutual Insurance Co. now owns 481,000 shares of the basic materials company’s stock valued at $57,046,000 after buying an additional 20,000 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Praxair by 1.9% in the first quarter. Retirement Systems of Alabama now owns 137,798 shares of the basic materials company’s stock worth $16,343,000 after buying an additional 2,530 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Praxair during the first quarter worth $196,000. Rothschild Investment Corp IL boosted its stake in shares of Praxair by 0.5% in the first quarter. Rothschild Investment Corp IL now owns 8,044 shares of the basic materials company’s stock worth $954,000 after buying an additional 42 shares during the period. Finally, Moody National Bank Trust Division boosted its stake in shares of Praxair by 0.6% in the first quarter. Moody National Bank Trust Division now owns 7,542 shares of the basic materials company’s stock worth $895,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 84.86% of the company’s stock.
Praxair, Inc. (NYSE PX) opened at 132.30 on Friday. The firm has a market capitalization of $37.84 billion, a price-to-earnings ratio of 24.78 and a beta of 0.93. The company’s 50-day moving average price is $132.38 and its 200 day moving average price is $126.00. 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 (EPS) for the quarter, topping the Zacks’ 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 return on equity of 27.93% and a net margin of 14.10%. Praxair’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. Analysts predict that Praxair, Inc. will post $5.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be issued a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is 58.88%.
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A number of brokerages recently weighed in 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 note on Sunday, June 11th. Vertical Group upgraded Praxair to a “hold” rating and upped their price objective for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. BidaskClub cut Praxair from a “buy” rating to a “hold” rating in a research note 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 note on Saturday, June 3rd. Finally, Vertical Research upgraded Praxair to a “hold” rating and upped their price objective for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Two equities research 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 currently 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.
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