Praxair, Inc. (PX) Shares Sold by Northern Trust Corp
Northern Trust Corp lessened its position in shares of Praxair, Inc. (NYSE:PX) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,641,370 shares of the basic materials company’s stock after selling 26,288 shares during the period. Northern Trust Corp owned about 1.27% of Praxair worth $482,665,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in PX. BlackRock Inc. raised its position in shares of Praxair by 2,091.9% during the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock worth $2,092,621,000 after purchasing an additional 16,839,374 shares during the period. Renaissance Technologies LLC raised its position in shares of Praxair by 287.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock worth $185,099,000 after purchasing an additional 1,158,100 shares during the period. CI Global Investments Inc. raised its position in shares of Praxair by 141.4% during the 2nd quarter. CI Global Investments Inc. now owns 1,933,777 shares of the basic materials company’s stock worth $256,322,000 after purchasing an additional 1,132,606 shares during the period. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Praxair during the 1st quarter worth approximately $55,637,000. Finally, Wellington Management Group LLP raised its position in shares of Praxair by 6.2% during the 1st quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock worth $900,147,000 after purchasing an additional 446,016 shares during the period. 85.33% of the stock is currently owned by institutional investors.
Shares of Praxair, Inc. (PX) traded up 1.33% during trading on Wednesday, reaching $138.33. The company’s stock had a trading volume of 715,426 shares. The company has a market capitalization of $39.57 billion, a P/E ratio of 25.90 and a beta of 0.93. The company’s 50-day moving average is $131.77 and its 200-day moving average is $128.42. Praxair, Inc. has a 12 month low of $114.43 and a 12 month high of $138.69.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the company posted $1.39 EPS. Praxair’s revenue was up 6.3% on a year-over-year basis. On average, analysts forecast 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 given a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
PX has been the topic of a number of research reports. Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 price target (up from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Vertical Group upgraded Praxair to a “hold” rating and increased their price target for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Bank of America Corporation upgraded Praxair from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, June 7th. Finally, Vertical Research upgraded Praxair to a “hold” rating and increased their price target for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target 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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