Blair William & Co. IL Sells 26,440 Shares of Praxair, Inc. (PX)
Blair William & Co. IL decreased its position in shares of Praxair, Inc. (NYSE:PX) by 5.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 489,397 shares of the basic materials company’s stock after selling 26,440 shares during the period. Blair William & Co. IL owned approximately 0.17% of Praxair worth $64,870,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of PX. Point72 Asia Hong Kong Ltd bought a new stake in shares of Praxair during the first quarter worth about $233,000. Capital Management Corp VA boosted its stake in shares of Praxair by 0.6% in the second quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock worth $248,000 after buying an additional 11 shares during the period. Egerton Capital UK LLP boosted its stake in shares of Praxair by 10.1% in the first quarter. Egerton Capital UK LLP now owns 2,338,087 shares of the basic materials company’s stock worth $277,297,000 after buying an additional 215,399 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Praxair by 15.0% in the first quarter. OppenheimerFunds Inc. now owns 11,745 shares of the basic materials company’s stock worth $1,393,000 after buying an additional 1,530 shares during the period. Finally, Elkhorn Investments LLC bought a new stake in shares of Praxair during the first quarter worth about $1,095,000. 85.34% of the stock is currently owned by hedge funds and other institutional investors.
Praxair, Inc. (NYSE:PX) opened at 132.08 on Tuesday. The company has a market capitalization of $37.78 billion, a price-to-earnings ratio of 24.73 and a beta of 0.93. The firm 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 released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the company posted $1.39 EPS. The business’s revenue was up 6.3% on a year-over-year basis. Analysts anticipate that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is 58.88%.
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A number of brokerages recently issued reports on PX. BidaskClub raised Praxair from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Zacks Investment Research cut Praxair from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Vertical Research raised Praxair to a “hold” rating and increased their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Vertical Group raised Praxair to a “hold” rating and increased their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $162.00 price objective on shares of Praxair in a report on Wednesday, June 21st. 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’s stock. The stock has an average rating of “Hold” and an average price target of $135.00.
Praxair Company Profile
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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