Accident Compensation Corp acquired a new position in Praxair, Inc. (NYSE:PX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,000 shares of the basic materials company’s stock, valued at approximately $140,000.
Other large investors have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. boosted its holdings in shares of Praxair by 0.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 13 shares during the period. Tortoise Investment Management LLC boosted its holdings in shares of Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 31 shares during the period. Elkhorn Investments LLC boosted its holdings in shares of Praxair by 0.3% in the 2nd quarter. Elkhorn Investments LLC now owns 9,265 shares of the basic materials company’s stock worth $1,206,000 after purchasing an additional 31 shares during the period. ZWJ Investment Counsel Inc. boosted its holdings in shares of Praxair by 2.6% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 1,796 shares of the basic materials company’s stock worth $238,000 after purchasing an additional 46 shares during the period. Finally, Lourd Capital LLC boosted its holdings in shares of Praxair by 2.3% in the 2nd quarter. Lourd Capital LLC now owns 2,450 shares of the basic materials company’s stock worth $325,000 after purchasing an additional 55 shares during the period. 86.43% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s 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 completion of the transaction, the director now owns 16,697 shares in the company, valued at approximately $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 owned by insiders.
A number of equities analysts have recently commented on PX shares. UBS lifted their target price on Praxair from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, October 27th. KeyCorp reiterated a “hold” rating on shares of Praxair in a report on Sunday, September 3rd. Citigroup upgraded Praxair from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $137.00 to $168.00 in a report on Monday, October 30th. Susquehanna Bancshares upgraded Praxair from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $131.00 to $155.00 in a report on Thursday, September 7th. Finally, Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $165.00 target price for the company in a report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $154.31.
Praxair, Inc. (NYSE:PX) traded down $1.90 on Thursday, reaching $150.39. The company had a trading volume of 1,421,200 shares, compared to its average volume of 1,337,728. Praxair, Inc. has a one year low of $115.00 and a one year high of $156.40. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22. The stock has a market cap of $43,827.62, a PE ratio of 26.67, a P/E/G ratio of 2.28 and a beta of 1.00.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the business earned $1.41 EPS. Praxair’s revenue was up 7.6% compared to the same quarter last year. sell-side analysts anticipate that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s payout ratio is currently 56.05%.
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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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