NGAM Advisors L.P. Has $4.40 Million Position in Praxair, Inc. (PX)
NGAM Advisors L.P. raised its stake in shares of Praxair, Inc. (NYSE:PX) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 33,186 shares of the basic materials company’s stock after buying an additional 479 shares during the period. NGAM Advisors L.P.’s holdings in Praxair were worth $4,399,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in PX. Carroll Financial Associates Inc. boosted its position in Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock valued at $100,000 after buying an additional 120 shares during the last quarter. Sandy Spring Bank boosted its position in Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after buying an additional 200 shares during the last quarter. Exane Derivatives purchased a new position in Praxair during the second quarter valued at $109,000. Capital Analysts LLC boosted its position in Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock valued at $120,000 after buying an additional 65 shares during the last quarter. Finally, V Wealth Management LLC purchased a new position in Praxair during the second quarter valued at $124,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of Praxair, Inc. (NYSE PX) opened at 127.44 on Friday. The stock has a 50 day moving average price of $132.46 and a 200 day moving average price of $125.54. The stock has a market capitalization of $36.45 billion, a price-to-earnings ratio of 23.87 and a beta of 0.93. Praxair, Inc. has a 1-year low of $114.43 and a 1-year 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, beating analysts’ consensus estimates 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 net margin of 14.10% and a return on equity of 27.93%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share. Equities research analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current year.
The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.47%. Praxair’s dividend payout ratio is presently 58.88%.
PX has been the topic of several research analyst reports. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a report on Friday, April 21st. Barclays PLC increased their price target on Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a report on Friday, June 2nd. Jefferies Group LLC reissued a “buy” rating and set a $162.00 price target (up from $140.00) on shares of Praxair in a report on Saturday, June 3rd. Finally, Vertical Group raised Praxair to a “hold” rating and increased their price target for the company from $123.00 to $127.00 in a report on Wednesday, June 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target 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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