Winslow Evans & Crocker Inc. Raises Stake in Praxair, Inc. (PX)
Winslow Evans & Crocker Inc. raised its position in Praxair, Inc. (NYSE:PX) by 122.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,080 shares of the basic materials company’s stock after buying an additional 3,898 shares during the period. Winslow Evans & Crocker Inc.’s holdings in Praxair were worth $912,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in PX. BlackRock Inc. raised its stake in 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 buying an additional 16,839,374 shares during the period. State Street Corp raised its stake in 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 buying an additional 74,856 shares during the period. Bank of New York Mellon Corp raised its stake in Praxair by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 10,901,896 shares of the basic materials company’s stock worth $1,292,964,000 after buying an additional 48,313 shares during the period. Wellington Management Group LLP raised its stake in Praxair by 6.2% in the first quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock worth $900,147,000 after buying an additional 446,016 shares during the period. Finally, Parnassus Investments CA raised its stake in Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock worth $737,895,000 after buying an additional 2,091,079 shares during the period. Institutional investors own 85.53% of the company’s stock.
Shares of Praxair, Inc. (NYSE PX) traded up 0.2776% during midday trading on Friday, hitting $127.9743. 201,617 shares of the stock were exchanged. The firm has a market cap of $36.60 billion, a P/E ratio of 23.9652 and a beta of 0.93. The firm has a 50 day moving average of $132.60 and a 200 day moving average of $125.47. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69.
Praxair (NYSE:PX) last announced its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.39 earnings per share. Equities analysts forecast that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be issued a $0.7875 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.47%. Praxair’s dividend payout ratio is presently 58.88%.
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PX has been the topic of a number of research reports. Barclays PLC increased their target price on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. BidaskClub lowered shares of Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 target price on shares of Praxair in a report on Wednesday, June 21st. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $156.00 target price (up from $130.00) on shares of Praxair in a report on Sunday, June 11th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $135.00.
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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