Praxair, Inc. (PX) Shares Bought by Egerton Capital UK LLP
Egerton Capital UK LLP increased its position in Praxair, Inc. (NYSE:PX) by 16.7% during the second quarter, Holdings Channel reports. The firm owned 2,729,517 shares of the basic materials company’s stock after buying an additional 391,430 shares during the period. Praxair comprises about 3.6% of Egerton Capital UK LLP’s portfolio, making the stock its 12th largest position. Egerton Capital UK LLP’s holdings in Praxair were worth $361,797,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its stake in Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares during the last quarter. State Street Corp raised its stake in Praxair by 0.5% in the first quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock valued at $1,639,105,000 after buying an additional 74,856 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Praxair by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 10,901,896 shares of the basic materials company’s stock valued at $1,292,964,000 after buying an additional 48,313 shares during the last quarter. Wellington Management Group LLP raised its stake in Praxair by 6.2% in the first quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock valued at $900,147,000 after buying an additional 446,016 shares during the last quarter. Finally, Parnassus Investments CA raised its stake in Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares during the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.
Praxair, Inc. (NYSE:PX) opened at 131.47 on Wednesday. The stock’s 50 day moving average is $132.37 and its 200 day moving average is $125.81. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The firm has a market cap of $37.60 billion, a P/E ratio of 24.62 and a beta of 0.93.
Praxair (NYSE:PX) last released its quarterly earnings data 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. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the company posted $1.39 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.7875 per share. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.40%. Praxair’s dividend payout ratio is currently 58.88%.
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PX has been the subject of several recent research reports. BidaskClub lowered shares of Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 target price on shares of Praxair in a research note on Wednesday, June 21st. Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and boosted their target price for the company from $140.00 to $150.00 in a research note on Wednesday, June 7th. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research note on Friday, April 21st. Finally, Barclays PLC boosted their target price on shares of Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Praxair presently has an average rating of “Hold” and an average price target of $135.00.
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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