Analysts Set Praxair Inc. (PX) Price Target at $117.83
Shares of Praxair Inc. (NYSE:PX) have been assigned a consensus rating of “Hold” from the seventeen research firms that are covering the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $117.83.
A number of brokerages have issued reports on PX. Credit Suisse Group AG restated a “hold” rating and set a $117.00 target price on shares of Praxair in a research report on Friday, July 29th. Credit Agricole SA increased their target price on shares of Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Jefferies Group restated a “buy” rating and set a $140.00 target price on shares of Praxair in a research report on Tuesday, August 16th. Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a research report on Friday, July 29th. Finally, Argus reiterated a “hold” rating on shares of Praxair in a research report on Tuesday, August 16th.
Praxair (NYSE:PX) opened at 117.08 on Friday. Praxair has a 52-week low of $95.60 and a 52-week high of $125.00. The company has a market cap of $33.41 billion, a PE ratio of 22.21 and a beta of 0.95. The company has a 50-day moving average of $118.13 and a 200 day moving average of $116.40.
Praxair (NYSE:PX) last announced its earnings results on Thursday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.01. Praxair had a net margin of 14.46% and a return on equity of 29.92%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts predict that Praxair will post $5.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, December 7th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Monday, December 5th. Praxair’s payout ratio is currently 56.82%.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction on Monday, November 7th. The shares were 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 of the company’s stock, valued at $1,957,890.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anne K. Roby sold 17,103 shares of Praxair stock in a transaction on Monday, October 31st. The stock was sold at an average price of $117.40, for a total transaction of $2,007,892.20. Following the transaction, the insider now directly owns 19,337 shares of the company’s stock, valued at approximately $2,270,163.80. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Capital World Investors increased its position in shares of Praxair by 1.4% in the second quarter. Capital World Investors now owns 29,776,847 shares of the company’s stock worth $3,346,620,000 after buying an additional 408,372 shares in the last quarter. Vanguard Group Inc. boosted its stake in Praxair by 2.0% in the second quarter. Vanguard Group Inc. now owns 19,864,576 shares of the company’s stock worth $2,232,580,000 after buying an additional 383,804 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Praxair by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 10,859,992 shares of the company’s stock worth $1,220,555,000 after buying an additional 180,461 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Praxair by 3.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,741,562 shares of the company’s stock worth $935,413,000 after buying an additional 293,515 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in Praxair by 0.3% in the second quarter. Capital Research Global Investors now owns 4,989,589 shares of the company’s stock worth $560,780,000 after buying an additional 14,289 shares during the last quarter. 84.35% of the stock is owned by institutional investors and hedge funds.
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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