BARING ASSET MANAGEMENT Ltd Has $10.18 Million Stake in Praxair, Inc. (PX)
BARING ASSET MANAGEMENT Ltd raised its stake in Praxair, Inc. (NYSE:PX) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,840 shares of the basic materials company’s stock after buying an additional 1,821 shares during the period. BARING ASSET MANAGEMENT Ltd’s holdings in Praxair were worth $10,184,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in PX. Exane Derivatives acquired a new position in shares of Praxair during the second quarter valued at approximately $109,000. Tortoise Investment Management LLC raised its position in shares of Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after buying an additional 31 shares during the period. Sandy Spring Bank raised its position in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after buying an additional 200 shares during the period. V Wealth Management LLC acquired a new position in shares of Praxair during the second quarter valued at approximately $124,000. Finally, First Command Bank raised its position in shares of Praxair by 12.6% in the second quarter. First Command Bank now owns 1,003 shares of the basic materials company’s stock valued at $133,000 after buying an additional 112 shares during the period. Institutional investors own 84.86% of the company’s stock.
Shares of Praxair, Inc. (NYSE PX) opened at 132.42 on Friday. The company’s 50 day moving average is $132.28 and its 200 day moving average is $126.53. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The company has a market capitalization of $37.88 billion, a P/E ratio of 24.80 and a beta of 0.93.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the business earned $1.39 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 2.38%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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Several brokerages have recently commented on PX. BidaskClub upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered shares of Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Vertical Research upgraded shares of Praxair to a “hold” rating and increased their price target for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Vertical Group upgraded shares of Praxair to a “hold” rating and increased their price target for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Finally, Jefferies Group LLC restated a “buy” rating and set a $162.00 price target on shares of Praxair in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price 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.
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