BNP Paribas Arbitrage SA Has $20.61 Million Position in Praxair, Inc. (PX)
BNP Paribas Arbitrage SA decreased its position in shares of Praxair, Inc. (NYSE:PX) by 41.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,503 shares of the basic materials company’s stock after selling 111,627 shares during the period. BNP Paribas Arbitrage SA owned 0.05% of Praxair worth $20,612,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of PX. Sandy Spring Bank increased its position in Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares in the last quarter. Exane Derivatives bought a new stake in Praxair during the second quarter worth about $109,000. Tortoise Investment Management LLC boosted its stake in Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after buying an additional 31 shares during the last quarter. Capital Analysts LLC boosted its stake in Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares during the last quarter. Finally, V Wealth Management LLC bought a new stake in Praxair during the second quarter worth about $124,000. Institutional investors own 85.34% of the company’s stock.
Shares of Praxair, Inc. (NYSE PX) opened at 132.42 on Monday. The company has a market cap of $37.88 billion, a PE ratio of 24.80 and a beta of 0.93. The company has a 50 day moving average price of $132.28 and a 200 day moving average price of $126.53. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. On average, equities analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be paid a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend 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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A number of research firms have issued reports on PX. Vertical Research upgraded Praxair to a “hold” rating and raised their target price for the company from $123.00 to $127.00 in a research note on Wednesday, June 7th. Jefferies Group LLC restated a “buy” rating and set a $162.00 price objective (up from $140.00) on shares of Praxair in a research note on Saturday, June 3rd. Deutsche Bank AG restated a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. BidaskClub cut shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research cut shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Praxair has a consensus 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.
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