Gulf International Bank UK Ltd Maintains Stake in Praxair Inc. (PX)
Gulf International Bank UK Ltd continued to hold its position in Praxair Inc. (NYSE:PX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,429 shares of the company’s stock at the end of the third quarter. Gulf International Bank UK Ltd’s holdings in Praxair were worth $10,443,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PX. Point72 Asia Hong Kong Ltd acquired a new stake in Praxair during the second quarter valued at approximately $101,000. SevenBridge Financial Group LLC acquired a new stake in Praxair during the second quarter valued at approximately $118,000. Quadrant Capital Group LLC boosted its stake in Praxair by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,168 shares of the company’s stock valued at $126,000 after buying an additional 11 shares in the last quarter. High Point Bank & Trust Co. boosted its stake in Praxair by 25.0% in the second quarter. High Point Bank & Trust Co. now owns 1,250 shares of the company’s stock valued at $140,000 after buying an additional 250 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Praxair by 23.5% in the second quarter. Advisory Services Network LLC now owns 1,383 shares of the company’s stock valued at $155,000 after buying an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 81.45% of the company’s stock.
Shares of Praxair Inc. (NYSE:PX) traded down 0.33% during midday trading on Monday, hitting $118.69. The stock had a trading volume of 748,419 shares. The firm has a market cap of $33.87 billion, a price-to-earnings ratio of 22.52 and a beta of 0.95. The company’s 50-day moving average price is $117.60 and its 200-day moving average price is $116.47. Praxair Inc. has a 12-month low of $95.60 and a 12-month high of $125.00.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.01. The firm earned $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. Praxair had a return on equity of 29.92% and a net margin of 14.46%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the company posted $1.46 EPS. Equities research analysts forecast that Praxair Inc. will post $5.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, December 7th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, December 5th. Praxair’s payout ratio is currently 56.82%.
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PX has been the subject of several recent analyst reports. TheStreet raised Praxair from a “hold” rating to a “buy” rating in a report on Monday, August 29th. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, October 18th. Jefferies Group reissued a “buy” rating and issued a $140.00 price target on shares of Praxair in a report on Friday, September 30th. Morgan Stanley initiated coverage on Praxair in a report on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 price objective for the company. Finally, lifted their price objective on Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $118.57.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction on Monday, 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 in the company, valued at approximately $1,957,890.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anne K. Roby sold 17,103 shares of the stock in a transaction on Monday, October 31st. The shares were sold at an average price of $117.40, for a total value of $2,007,892.20. Following the sale, the insider now 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. Company insiders own 0.22% of the company’s stock.
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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