Praxair, Inc. (PX) Position Raised by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC boosted its holdings in shares of Praxair, Inc. (NYSE:PX) by 51.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 935,576 shares of the basic materials company’s stock after purchasing an additional 318,715 shares during the period. Parametric Portfolio Associates LLC owned 0.33% of Praxair worth $124,011,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in Praxair by 19.1% during the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 123 shares in the last quarter. Exane Derivatives acquired a new stake in Praxair during the 2nd quarter valued at $109,000. Tortoise Investment Management LLC increased its holdings in Praxair by 3.9% during the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 31 shares in the last quarter. Sandy Spring Bank increased its holdings in Praxair by 31.2% during the 1st quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 200 shares in the last quarter. Finally, Pacific Center for Financial Services increased its holdings in Praxair by 65.7% during the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 356 shares in the last quarter. 85.33% of the stock is owned by hedge funds and other institutional investors.
Praxair, Inc. (PX) traded down 0.70% during midday trading on Friday, hitting $137.60. The stock had a trading volume of 921,964 shares. The company has a 50-day moving average of $131.77 and a 200-day moving average of $128.42. The stock has a market cap of $39.36 billion, a price-to-earnings ratio of 25.77 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 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 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%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. Equities research analysts forecast that Praxair, Inc. will post $5.47 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were issued a dividend of $0.7875 per share. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.29%. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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A number of research firms recently weighed in on PX. Vertical Research raised Praxair to a “hold” rating and raised their price target for the company from $123.00 to $127.00 in a report on Wednesday, June 7th. Jefferies Group LLC reaffirmed 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. BidaskClub cut Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a report on Friday, June 2nd. Finally, Zacks Investment Research cut Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $138.00.
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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