River Wealth Advisors LLC cut its position in shares of Praxair, Inc. (NYSE:PX) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,155 shares of the basic materials company’s stock after selling 514 shares during the quarter. River Wealth Advisors LLC’s holdings in Praxair were worth $1,838,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of PX. Menta Capital LLC acquired a new position in Praxair during the first quarter worth $545,000. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Praxair by 0.7% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,018 shares of the basic materials company’s stock worth $1,070,000 after purchasing an additional 60 shares during the last quarter. Mackenzie Financial Corp increased its position in Praxair by 42.2% during the first quarter. Mackenzie Financial Corp now owns 10,917 shares of the basic materials company’s stock worth $1,295,000 after buying an additional 3,242 shares in the last quarter. Quest Investment Management LLC purchased a new position in Praxair during the first quarter worth $733,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in Praxair by 5.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,317 shares of the basic materials company’s stock worth $749,000 after buying an additional 313 shares in the last quarter. 85.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (NYSE PX) traded down $0.13 during trading hours on Tuesday, hitting $148.15. The stock had a trading volume of 1,455,900 shares, compared to its average volume of 1,297,747. The stock has a market capitalization of $42,453.35, a P/E ratio of 25.83, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. Praxair, Inc. has a twelve month low of $115.00 and a twelve month high of $150.25.
Praxair (NYSE:PX) last announced its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.06. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.84 billion. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share. research analysts forecast that Praxair, Inc. will post 5.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, December 7th will be given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio (DPR) is presently 56.05%.
PX has been the subject of several recent research reports. Susquehanna Bancshares Inc raised their price target on Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Jefferies Group LLC reissued a “buy” rating and set a $162.00 price target on shares of Praxair in a research report on Thursday, October 19th. Zacks Investment Research raised Praxair from a “sell” rating to a “buy” rating and set a $148.00 price target for the company in a research report on Monday, July 31st. SunTrust Banks, Inc. reissued a “buy” rating and set a $162.00 price target on shares of Praxair in a research report on Friday, October 27th. Finally, UBS AG raised their price target on Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Praxair has an average rating of “Hold” and an average target price of $150.21.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the sale, the director now owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair, Inc. (NYSE:PX).
Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with MarketBeat.com's FREE daily email newsletter.