Captrust Financial Advisors Invests $658,000 in Praxair, Inc. (PX)

Captrust Financial Advisors acquired a new stake in Praxair, Inc. (NYSE:PX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 4,963 shares of the basic materials company’s stock, valued at approximately $658,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PX. Norris Perne & French LLP MI boosted its stake in shares of Praxair by 59.7% in the 1st quarter. Norris Perne & French LLP MI now owns 53,215 shares of the basic materials company’s stock valued at $6,311,000 after buying an additional 19,884 shares during the period. Parnassus Investments CA boosted its stake in shares of Praxair by 48.5% in the 1st quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares during the period. State Treasurer State of Michigan boosted its stake in shares of Praxair by 0.3% in the 1st quarter. State Treasurer State of Michigan now owns 93,645 shares of the basic materials company’s stock valued at $11,106,000 after buying an additional 300 shares during the period. Nwam LLC boosted its stake in shares of Praxair by 17.5% in the 1st quarter. Nwam LLC now owns 3,147 shares of the basic materials company’s stock valued at $373,000 after buying an additional 468 shares during the period. Finally, Pillar Pacific Capital Management LLC boosted its stake in shares of Praxair by 1.8% in the 1st quarter. Pillar Pacific Capital Management LLC now owns 40,345 shares of the basic materials company’s stock valued at $4,785,000 after buying an additional 710 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.

Shares of Praxair, Inc. (NYSE:PX) opened at 134.22 on Friday. The company’s 50-day moving average price is $131.52 and its 200 day moving average price is $128.05. The stock has a market cap of $38.39 billion, a PE ratio of 25.13 and a beta of 0.93. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69.

Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. Praxair’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 earnings per share. Equities analysts forecast that Praxair, Inc. will post $5.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were issued a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Wednesday, September 6th. Praxair’s dividend payout ratio is currently 58.88%.

Several equities analysts have recently issued reports on the company. BidaskClub upgraded Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. UBS AG upgraded Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. Vertical Research upgraded Praxair to a “hold” rating and lifted their price objective for the company from $123.00 to $127.00 in a research note on Wednesday, June 7th. Finally, Vertical Group upgraded Praxair to a “hold” rating and lifted their price objective for the company from $123.00 to $127.00 in a research note on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $138.00.

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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.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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