Praxair, Inc. (PX) Shares Bought by FTB Advisors Inc.
FTB Advisors Inc. grew its stake in shares of Praxair, Inc. (NYSE:PX) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,910 shares of the basic materials company’s stock after acquiring an additional 79 shares during the quarter. FTB Advisors Inc.’s holdings in Praxair were worth $385,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Praxair during the 1st quarter worth about $233,000. Capital Management Corp VA grew its holdings in shares of Praxair by 0.6% during the 2nd quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 11 shares during the period. Federated Investors Inc. PA grew its holdings in shares of Praxair by 47.3% during the 2nd quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock worth $1,333,000 after purchasing an additional 3,228 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Praxair during the 2nd quarter worth about $1,286,000. Finally, Egerton Capital UK LLP grew its holdings in shares of Praxair by 10.1% during the 1st quarter. Egerton Capital UK LLP now owns 2,338,087 shares of the basic materials company’s stock worth $277,297,000 after purchasing an additional 215,399 shares during the period. 85.33% of the stock is owned by institutional investors.
Praxair, Inc. (NYSE PX) traded down 0.27% during trading on Friday, reaching $141.96. The company’s stock had a trading volume of 1,190,414 shares. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 26.58 and a beta of 0.95. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $142.97. The stock’s 50-day moving average is $135.42 and its 200 day moving average is $130.34.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the business earned $1.39 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Wednesday, September 6th. Praxair’s payout ratio is 58.88%.
PX has been the subject of a number of research reports. BidaskClub cut Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded Praxair from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Susquehanna Bancshares Inc upgraded Praxair from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $131.00 to $155.00 in a report on Thursday, September 7th. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 target price on shares of Praxair in a report on Wednesday, June 21st. Finally, UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $138.00.
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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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