Supplemental Annuity Collective Trust of NJ Has $629,000 Position in Praxair, Inc. (PX)
Supplemental Annuity Collective Trust of NJ held its stake in shares of Praxair, Inc. (NYSE:PX) during the second quarter, Holdings Channel reports. The institutional investor owned 4,748 shares of the basic materials company’s stock at the end of the second quarter. Supplemental Annuity Collective Trust of NJ’s holdings in Praxair were worth $629,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PX. Sandy Spring Bank raised its stake in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares during the period. Exane Derivatives acquired a new stake in shares of Praxair during the second quarter worth $109,000. Capital Analysts LLC raised its stake in shares of Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares during the period. V Wealth Management LLC acquired a new stake in shares of Praxair during the second quarter worth $124,000. Finally, Guardian Life Insurance Co. of America raised its stake in shares of Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock worth $131,000 after buying an additional 8 shares during the period. Institutional investors own 84.86% of the company’s stock.
Praxair, Inc. (NYSE:PX) opened at 131.47 on Wednesday. The company has a market cap of $37.60 billion, a PE ratio of 24.62 and a beta of 0.93. The firm’s 50-day moving average price is $132.37 and its 200-day moving average price is $125.81. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69.
Praxair (NYSE:PX) last issued its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be issued a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.40%. Praxair’s payout ratio is presently 58.88%.
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Several research firms recently issued reports on PX. BidaskClub cut Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 price target on shares of Praxair in a report on Wednesday, June 21st. Bank of America Corporation upgraded Praxair from a “neutral” rating to a “buy” rating and raised their price target for the company from $140.00 to $150.00 in a report on Wednesday, June 7th. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a report on Friday, April 21st. Finally, Barclays PLC raised their price target on Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Praxair currently has a consensus rating of “Hold” and an average target price of $135.00.
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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