Praxair, Inc. (NYSE:PX) Stake Increased by Regentatlantic Capital LLC
Regentatlantic Capital LLC boosted its stake in Praxair, Inc. (NYSE:PX) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,388 shares of the basic materials company’s stock after buying an additional 70 shares during the period. Regentatlantic Capital LLC’s holdings in Praxair were worth $317,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares during the last quarter. Parnassus Investments CA boosted its stake in Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Praxair by 287.7% in the first quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock valued at $185,099,000 after buying an additional 1,158,100 shares during the last quarter. CI Global Investments Inc. purchased a new stake in Praxair during the first quarter valued at approximately $95,019,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Praxair during the first quarter valued at approximately $55,637,000. 85.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (PX) traded up 0.10% during mid-day trading on Monday, hitting $130.28. 212,015 shares of the stock traded hands. The stock has a 50-day moving average of $133.75 and a 200-day moving average of $125.01. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69. The company has a market cap of $37.26 billion, a price-to-earnings ratio of 24.40 and a beta of 0.93.
Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a $0.7875 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.42%. Praxair’s payout ratio is 58.88%.
Several analysts have commented on PX shares. Zacks Investment Research raised shares of Praxair from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research note on Friday, April 21st. Barclays PLC lifted their target price on shares of Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, May 1st. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price (up from $140.00) on shares of Praxair in a research note on Saturday, June 3rd. Finally, BidaskClub cut shares of Praxair from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $135.00.
Praxair, Inc is an industrial gas company. 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, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair, Inc. (NYSE:PX).
Receive News & Stock Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related stocks with our FREE daily email newsletter.