Prio Wealth Limited Partnership lowered its stake in shares of Praxair, Inc. (NYSE:PX) by 3.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 65,072 shares of the basic materials company’s stock after selling 2,064 shares during the period. Prio Wealth Limited Partnership’s holdings in Praxair were worth $10,291,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PX. Private Capital Group LLC increased its stake in shares of Praxair by 394.0% in the 1st quarter. Private Capital Group LLC now owns 741 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 591 shares in the last quarter. Kaizen Advisory LLC increased its stake in shares of Praxair by 140.9% in the 2nd quarter. Kaizen Advisory LLC now owns 677 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 396 shares in the last quarter. Institutional & Family Asset Management LLC purchased a new position in shares of Praxair in the 1st quarter valued at about $137,000. Signaturefd LLC purchased a new position in shares of Praxair in the 1st quarter valued at about $147,000. Finally, Cornerstone Advisors Inc. increased its stake in shares of Praxair by 123.1% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,042 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 575 shares in the last quarter. Institutional investors and hedge funds own 85.61% of the company’s stock.
PX stock opened at $154.79 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.78 and a current ratio of 0.96. Praxair, Inc. has a 12-month low of $127.36 and a 12-month high of $168.54. The stock has a market capitalization of $45.19 billion, a P/E ratio of 24.59, a PEG ratio of 2.01 and a beta of 1.11.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, July 26th. The basic materials company reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.02. Praxair had a return on equity of 27.84% and a net margin of 11.68%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the firm posted $1.46 EPS. Praxair’s revenue was up 8.0% compared to the same quarter last year. analysts expect that Praxair, Inc. will post 6.78 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Monday, August 6th will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, August 3rd. Praxair’s payout ratio is 56.41%.
Several equities analysts recently weighed in on the company. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. BMO Capital Markets lifted their price target on Praxair from $164.00 to $170.00 and gave the company a “market perform” rating in a research note on Monday, July 30th. Citigroup lifted their price target on Praxair from $177.00 to $189.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. ValuEngine lowered Praxair from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Finally, JPMorgan Chase & Co. lifted their price target on Praxair from $179.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, June 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $178.42.
Praxair Company Profile
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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