Praxair Inc. (PX) Now Covered by Analysts at HSBC
A number of other analysts have also recently weighed in on PX. raised their price objective on Praxair from $115.00 to $125.00 and gave the stock an outperform rating in a research report on Tuesday, August 2nd. Jefferies Group reissued a buy rating and issued a $140.00 price objective on shares of Praxair in a research report on Tuesday, August 16th. Argus reissued a hold rating on shares of Praxair in a research report on Tuesday, August 16th. TheStreet raised Praxair from a hold rating to a buy rating in a research report on Monday, August 29th. Finally, Zacks Investment Research raised Praxair from a sell rating to a hold rating in a research report on Tuesday, November 22nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. Praxair currently has a consensus rating of Hold and an average price target of $118.20.
Shares of Praxair (NYSE:PX) opened at 122.18 on Tuesday. The firm’s 50-day moving average price is $117.56 and its 200 day moving average price is $116.58. The company has a market cap of $34.87 billion, a price-to-earnings ratio of 23.18 and a beta of 0.95. Praxair has a 12-month low of $95.60 and a 12-month high of $125.00.
Praxair (NYSE:PX) last announced its earnings results on Thursday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.01. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. Praxair had a return on equity of 29.92% and a net margin of 14.46%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 EPS. On average, analysts predict that Praxair will post $5.47 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, December 7th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, December 5th. Praxair’s dividend payout ratio is currently 56.82%.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the transaction, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anne K. Roby sold 17,103 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 19,337 shares in the company, valued at $2,270,163.80. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG boosted its position in Praxair by 500.6% in the third quarter. UBS Group AG now owns 2,854,873 shares of the company’s stock worth $344,954,000 after buying an additional 2,379,512 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Praxair by 59.7% in the third quarter. First Eagle Investment Management LLC now owns 2,746,481 shares of the company’s stock worth $331,857,000 after buying an additional 1,027,058 shares in the last quarter. Egerton Capital UK LLP acquired a new position in Praxair during the third quarter worth approximately $96,741,000. Emerald Acquisition Ltd. acquired a new position in Praxair during the second quarter worth approximately $78,512,000. Finally, UBS Asset Management Americas Inc. boosted its position in Praxair by 80.4% in the second quarter. UBS Asset Management Americas Inc. now owns 1,457,556 shares of the company’s stock worth $163,816,000 after buying an additional 649,500 shares in the last quarter. Hedge funds and other institutional investors own 81.45% of the company’s stock.
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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