KBC Group NV Reduces Stake in Praxair, Inc. (PX)
KBC Group NV lowered its position in Praxair, Inc. (NYSE:PX) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,341 shares of the basic materials company’s stock after selling 444 shares during the period. KBC Group NV’s holdings in Praxair were worth $11,975,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of PX. Exane Derivatives purchased a new position in shares of Praxair during the second quarter worth $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 worth $110,000 after buying an additional 31 shares during the last quarter. 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 worth $100,000 after buying an additional 200 shares during the last quarter. V Wealth Management LLC purchased a new position in shares of Praxair during the second quarter worth $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 worth $133,000 after buying an additional 112 shares during the last quarter. 85.34% of the stock is currently owned by institutional investors.
Shares of Praxair, Inc. (PX) opened at 132.42 on Monday. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69. The company has a 50-day moving average price of $132.28 and a 200-day moving average price of $126.53. The stock has a market capitalization of $37.88 billion, a price-to-earnings ratio of 24.80 and a beta of 0.93.
Praxair (NYSE:PX) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. Praxair’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.39 earnings per share. On average, equities analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be issued a $0.7875 dividend. 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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A number of brokerages have recently weighed in on PX. BidaskClub raised Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Vertical Research raised Praxair to a “hold” rating and upped their target price for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Vertical Group raised Praxair to a “hold” rating and upped their target price for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $162.00 price target on shares of Praxair in a research report on Wednesday, June 21st. Two equities research 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’s stock. The stock presently has an average rating of “Hold” and an average 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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