Prudential Financial Inc. Increases Holdings in Praxair, Inc. (PX)
Prudential Financial Inc. raised its holdings in shares of Praxair, Inc. (NYSE:PX) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 409,415 shares of the basic materials company’s stock after buying an additional 820 shares during the period. Prudential Financial Inc. owned about 0.14% of Praxair worth $57,212,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Praxair by 2.6% in the second quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock worth $2,757,471,000 after purchasing an additional 523,022 shares in the last quarter. BlackRock Inc. increased its stake in shares of Praxair by 2,091.9% in the first 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 in the last quarter. Capital World Investors increased its stake in shares of Praxair by 4.3% in the second quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock worth $2,297,403,000 after purchasing an additional 716,835 shares in the last quarter. State Street Corp increased its stake in shares of Praxair by 0.5% in the first quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock worth $1,639,105,000 after purchasing an additional 74,856 shares in the last quarter. Finally, Egerton Capital UK LLP increased its stake in shares of Praxair by 16.7% in the second quarter. Egerton Capital UK LLP now owns 2,729,517 shares of the basic materials company’s stock worth $361,797,000 after purchasing an additional 391,430 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.
Praxair, Inc. (NYSE:PX) opened at $148.46 on Friday. Praxair, Inc. has a 12-month low of $115.00 and a 12-month high of $150.25. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. The company has a market cap of $42,937.21, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.24 and a beta of 0.99.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the business earned $1.41 earnings per share. Praxair’s quarterly revenue was up 7.6% compared to the same quarter last year. equities research analysts forecast that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be given a dividend of $0.7875 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $3.15 annualized dividend and a yield of 2.12%. Praxair’s dividend payout ratio (DPR) is currently 56.05%.
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In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the transaction, the director now owns 16,697 shares in the company, valued at $1,957,890.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by company insiders.
PX has been the subject of a number of analyst reports. Susquehanna Bancshares Inc increased their price objective on shares of Praxair from $155.00 to $175.00 in a research note on Tuesday. Jefferies Group LLC reissued a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Thursday, October 19th. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 price objective for the company in a research note on Monday, July 31st. SunTrust Banks, Inc. reissued a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Friday, October 27th. Finally, UBS AG increased their price objective on shares of Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $148.62.
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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