Traders Buy Shares of Praxair (PX) on Weakness
Traders bought shares of Praxair, Inc. (NYSE:PX) on weakness during trading on Tuesday. $65.71 million flowed into the stock on the tick-up and $37.16 million flowed out of the stock on the tick-down, for a money net flow of $28.55 million into the stock. Of all equities tracked, Praxair had the 19th highest net in-flow for the day. Praxair traded down ($0.92) for the day and closed at $151.34
Several research firms have commented on PX. BidaskClub upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Susquehanna Bancshares boosted their target price on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Jefferies Group reiterated a “buy” rating and set a $162.00 price objective on shares of Praxair in a research note on Thursday, October 19th. Finally, Barclays upped their price objective on Praxair from $140.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $156.15.
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 firm has a market capitalization of $43,349.48, a price-to-earnings ratio of 26.38, a P/E/G ratio of 2.26 and a beta of 1.00.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the firm posted $1.41 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. analysts expect that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders 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 yield of 2.08%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio is 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the sale, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. CI Global Investments Inc. raised its position in shares of Praxair by 141.4% during the second quarter. CI Global Investments Inc. now owns 1,933,777 shares of the basic materials company’s stock worth $256,322,000 after acquiring an additional 1,132,606 shares during the last quarter. Capital World Investors grew its stake in Praxair by 4.3% during 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 during the period. Egerton Capital UK LLP grew its stake in Praxair by 24.0% during the third quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock worth $473,016,000 after purchasing an additional 655,456 shares during the period. PointState Capital LP acquired a new stake in Praxair during the second quarter worth approximately $76,481,000. Finally, Vanguard Group Inc. grew its stake in Praxair by 2.6% during 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 during the period. Institutional investors and hedge funds own 86.43% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was first reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.watchlistnews.com/traders-buy-shares-of-praxair-px-on-weakness/1760160.html.
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.
Receive News & Ratings for Praxair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair and related companies with Analyst Ratings Network's FREE daily email newsletter.