OxFORD Asset Management LLP Invests $3.40 Million in Praxair, Inc. (PX) Stock
OxFORD Asset Management LLP purchased a new position in shares of Praxair, Inc. (NYSE:PX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 25,611 shares of the basic materials company’s stock, valued at approximately $3,395,000.
A number of other institutional investors have also bought and sold shares of PX. British Columbia Investment Management Corp grew its holdings in Praxair by 41.6% during the first quarter. British Columbia Investment Management Corp now owns 206,641 shares of the basic materials company’s stock worth $24,508,000 after purchasing an additional 60,748 shares during the period. Autus Asset Management LLC grew its holdings in Praxair by 6.3% during the first quarter. Autus Asset Management LLC now owns 34,996 shares of the basic materials company’s stock worth $4,151,000 after purchasing an additional 2,073 shares during the period. Haverford Trust Co. grew its holdings in Praxair by 5.7% during the first quarter. Haverford Trust Co. now owns 86,103 shares of the basic materials company’s stock worth $10,212,000 after purchasing an additional 4,669 shares during the period. Karp Capital Management Corp bought a new position in Praxair during the first quarter worth about $17,660,000. Finally, Capital Analysts LLC grew its holdings in Praxair by 6.8% during the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 85.33% of the company’s stock.
Shares of Praxair, Inc. (NYSE PX) opened at 139.74 on Friday. The firm has a market capitalization of $39.97 billion, a P/E ratio of 26.17 and a beta of 0.93. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $141.88. The stock has a 50 day moving average of $131.77 and a 200-day moving average of $128.42.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ 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 net margin of 14.10% and a return on equity of 27.93%. Praxair’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $1.39 EPS. Equities analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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A number of equities research analysts have recently issued reports on PX shares. BidaskClub cut Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Vertical Group upgraded Praxair to a “hold” rating and boosted their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Jefferies Group LLC restated a “buy” rating and set a $162.00 price objective (up previously from $140.00) on shares of Praxair in a report on Saturday, June 3rd. J P Morgan Chase & Co restated an “overweight” rating and set a $156.00 price objective (up previously from $130.00) on shares of Praxair in a report on Sunday, June 11th. Finally, Vertical Research upgraded Praxair to a “hold” rating and boosted their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Praxair presently has a consensus rating of “Hold” and a consensus price target of $138.00.
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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