Howland Capital Management LLC Acquires 1,526 Shares of Praxair Inc. (PX)
Howland Capital Management LLC raised its stake in shares of Praxair Inc. (NYSE:PX) by 4.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,218 shares of the company’s stock after buying an additional 1,526 shares during the period. Howland Capital Management LLC’s holdings in Praxair were worth $4,014,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Euclid Advisors LLC purchased a new position in shares of Praxair during the first quarter valued at about $1,025,000. First Republic Investment Management Inc. raised its position in shares of Praxair by 10.0% in the first quarter. First Republic Investment Management Inc. now owns 25,354 shares of the company’s stock valued at $2,901,000 after buying an additional 2,295 shares during the period. Cullinan Associates Inc. raised its position in shares of Praxair by 20.2% in the second quarter. Cullinan Associates Inc. now owns 20,193 shares of the company’s stock valued at $2,269,000 after buying an additional 3,390 shares during the period. Park National Corp OH raised its position in shares of Praxair by 0.3% in the second quarter. Park National Corp OH now owns 4,562 shares of the company’s stock valued at $513,000 after buying an additional 15 shares during the period. Finally, Raymond James Trust N.A. raised its position in shares of Praxair by 2.1% in the second quarter. Raymond James Trust N.A. now owns 13,679 shares of the company’s stock valued at $1,538,000 after buying an additional 287 shares during the period. 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. 749,878 shares of the stock were exchanged. The stock has a market capitalization of $33.87 billion, a price-to-earnings ratio of 22.52 and a beta of 0.95. Praxair Inc. has a 1-year low of $95.60 and a 1-year high of $125.00. The firm’s 50 day moving average is $117.60 and its 200-day moving average is $116.47.
Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the 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 earned $2.70 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Praxair Inc. will post $5.47 EPS for the current year.
The business 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 $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, December 5th. Praxair’s dividend payout ratio (DPR) is currently 56.82%.
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Several equities analysts have recently issued reports on the stock. boosted their price target on shares of Praxair from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. Argus reissued a “hold” rating on shares of Praxair in a report on Tuesday, August 16th. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “hold” rating in a research note on Tuesday, November 22nd. Morgan Stanley began coverage on shares of Praxair in a research note on Tuesday, September 13th. They issued an “equal weight” rating and a $125.00 target price for the company. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $140.00 target price on shares of Praxair in a research note on Friday, September 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Praxair has a consensus rating of “Hold” and a consensus target price of $118.57.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of Praxair stock in a transaction dated 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 directly owns 16,697 shares in the company, valued at $1,957,890.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anne K. Roby sold 17,103 shares of Praxair stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $117.40, for a total transaction of $2,007,892.20. Following the transaction, the insider now owns 19,337 shares of the company’s stock, valued at $2,270,163.80. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by company insiders.
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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