Cribstone Capital Management LLC decreased its stake in shares of Praxair, Inc. (NYSE:PX) by 15.2% during the second quarter, Holdings Channel reports. The firm owned 2,001 shares of the basic materials company’s stock after selling 359 shares during the period. Cribstone Capital Management LLC’s holdings in Praxair were worth $265,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of PX. Carroll Financial Associates Inc. boosted its position in shares of Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock worth $100,000 after buying an additional 120 shares during the last quarter. Sandy Spring Bank boosted its position 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 last quarter. Exane Derivatives bought a new position in shares of Praxair during the second quarter worth about $109,000. Capital Analysts LLC boosted its position 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 last quarter. Finally, V Wealth Management LLC bought a new position in shares of Praxair during the second quarter worth about $124,000. Institutional investors own 85.58% of the company’s stock.
Shares of Praxair, Inc. (NYSE:PX) traded down 0.35% during mid-day trading on Friday, hitting $134.74. The stock had a trading volume of 813,853 shares. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The stock has a market capitalization of $38.45 billion, a price-to-earnings ratio of 25.33 and a beta of 0.94. The stock’s 50-day moving average price is $133.98 and its 200-day moving average price is $123.98.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, April 27th. The basic materials company reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.04. Praxair had a net margin of 14.26% and a return on equity of 28.42%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the prior year, the company earned $1.28 EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
PX has been the topic of a number of recent research reports. Barclays PLC lifted their target price on Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, May 1st. BidaskClub cut Praxair from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Jefferies Group LLC restated a “buy” rating and issued a $162.00 target price on shares of Praxair in a report on Wednesday, June 21st. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $156.00 target price (up from $130.00) on shares of Praxair in a report on Sunday, June 11th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $130.77.
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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