Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $5.91 Million Position in Praxair, Inc. (PX)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Praxair, Inc. (NYSE:PX) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,302 shares of the basic materials company’s stock after purchasing an additional 1,260 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Praxair were worth $5,911,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Kistler Tiffany Companies LLC raised its position in Praxair by 149.8% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 430 shares during the last quarter. Parallel Advisors LLC raised its position in Praxair by 19.1% during the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 123 shares during the last quarter. BB&T Investment Services Inc. bought a new position in Praxair during the 2nd quarter worth $106,000. Exane Derivatives bought a new position in shares of Praxair in the 2nd quarter worth about $109,000. Finally, Tortoise Investment Management LLC raised its position in shares of Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 31 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.
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Several research analysts have recently weighed in on PX shares. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research report on Thursday, October 19th. Zacks Investment Research raised Praxair from a “sell” rating to a “buy” rating and set a $148.00 price objective for the company in a research report on Monday, July 31st. SunTrust Banks, Inc. reissued a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research report on Friday, October 27th. UBS AG lifted their price objective on Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, Citigroup Inc. raised Praxair from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $137.00 to $168.00 in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $147.08.
Shares of Praxair, Inc. (NYSE PX) opened at $147.47 on Tuesday. Praxair, Inc. has a 12-month low of $115.00 and a 12-month high of $149.91. The company has a market capitalization of $42,220.00, a PE ratio of 25.70, a P/E/G ratio of 2.20 and a beta of 0.99. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91.
Praxair (NYSE:PX) last issued its earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the company posted $1.41 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. equities analysts anticipate that Praxair, Inc. will post 5.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be given a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Wednesday, December 6th. Praxair’s payout ratio is 56.05%.
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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