Riverbridge Partners LLC Sells 1,187 Shares of Praxair, Inc. (PX)
Riverbridge Partners LLC lowered its position in Praxair, Inc. (NYSE:PX) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 180,022 shares of the basic materials company’s stock after selling 1,187 shares during the period. Riverbridge Partners LLC owned 0.06% of Praxair worth $25,156,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd bought a new position in shares of Praxair in the first quarter valued at approximately $233,000. Capital Management Corp VA raised its stake in shares of Praxair by 0.6% in the second quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock valued at $248,000 after acquiring an additional 11 shares during the last quarter. Federated Investors Inc. PA raised its stake in shares of Praxair by 47.3% in the second quarter. Federated Investors Inc. PA now owns 10,057 shares of the basic materials company’s stock valued at $1,333,000 after acquiring an additional 3,228 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Praxair in the second quarter valued at approximately $1,286,000. Finally, Mosaic Family Wealth LLC raised its stake in shares of Praxair by 6.3% in the second quarter. Mosaic Family Wealth LLC now owns 1,309 shares of the basic materials company’s stock valued at $173,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 85.31% of the company’s stock.
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Shares of Praxair, Inc. (PX) traded down $0.03 during trading on Tuesday, hitting $147.47. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22. Praxair, Inc. has a 1-year low of $115.00 and a 1-year high of $149.91. The firm has a market capitalization of $42,220.00, a price-to-earnings ratio of 25.70, a P/E/G ratio of 2.20 and a beta of 0.99.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the business earned $1.41 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. sell-side analysts predict that Praxair, Inc. will post 5.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be issued a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s payout ratio is currently 56.05%.
PX has been the subject of a number of research analyst reports. Susquehanna Bancshares Inc upgraded shares of Praxair from a “neutral” rating to a “positive” rating and lifted their target price for the company from $131.00 to $155.00 in a research note on Thursday, September 7th. Zacks Investment Research cut shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. UBS AG upgraded shares of Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 target price on shares of Praxair in a research note on Thursday, October 19th. Finally, KeyCorp reiterated a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $147.08.
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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