Praxair Inc. (PX) Shares Bought by Grandfield & Dodd LLC
Grandfield & Dodd LLC increased its position in Praxair Inc. (NYSE:PX) by 5.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 114,331 shares of the company’s stock after buying an additional 6,271 shares during the period. Praxair makes up about 1.8% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 21st largest position. Grandfield & Dodd LLC’s holdings in Praxair were worth $12,850,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC boosted its position in Praxair by 23.5% in the second quarter. Advisory Services Network LLC now owns 1,383 shares of the company’s stock worth $155,000 after buying an additional 263 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in Praxair by 3.7% in the second quarter. Deprince Race & Zollo Inc. now owns 374,757 shares of the company’s stock worth $42,119,000 after buying an additional 13,512 shares during the last quarter. American Century Companies Inc. boosted its position in Praxair by 10.8% in the second quarter. American Century Companies Inc. now owns 5,380 shares of the company’s stock worth $605,000 after buying an additional 526 shares during the last quarter. Patriot Wealth Management Inc. boosted its position in Praxair by 2.1% in the second quarter. Patriot Wealth Management Inc. now owns 40,959 shares of the company’s stock worth $4,603,000 after buying an additional 856 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in Praxair by 66.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 16,270 shares of the company’s stock worth $1,829,000 after buying an additional 6,497 shares during the last quarter. Hedge funds and other institutional investors own 83.78% of the company’s stock.
Shares of Praxair Inc. (NYSE:PX) traded up 0.38% during trading on Monday, hitting $121.29. 1,220,318 shares of the company traded hands. The company has a 50-day moving average of $119.93 and a 200-day moving average of $115.60. The stock has a market capitalization of $34.60 billion, a PE ratio of 22.08 and a beta of 0.93. Praxair Inc. has a 52-week low of $95.60 and a 52-week high of $125.00.
Praxair (NYSE:PX) last released its earnings results on Thursday, July 28th. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The company earned $2.70 billion during the quarter, compared to the consensus estimate of $2.60 billion. Praxair had a return on equity of 31.66% and a net margin of 15.09%. Praxair’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. Equities analysts expect that Praxair Inc. will post $5.51 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 8th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Tuesday, September 6th. Praxair’s dividend payout ratio is currently 54.55%.
A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of Praxair from a “hold” rating to a “sell” rating in a report on Monday. Jefferies Group reiterated a “buy” rating and set a $140.00 target price on shares of Praxair in a report on Friday. Morgan Stanley initiated coverage on shares of Praxair in a report on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 target price on the stock. TheStreet upgraded shares of Praxair from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Finally, Argus reiterated a “hold” rating on shares of Praxair in a report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $118.57.
Praxair Company Profile
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. 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, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
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