Praxair, Inc. (PX) Shares Bought by MARSHALL WACE ASIA Ltd
MARSHALL WACE ASIA Ltd boosted its position in shares of Praxair, Inc. (NYSE:PX) by 31.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 616,666 shares of the basic materials company’s stock after buying an additional 149,132 shares during the period. Praxair makes up approximately 4.2% of MARSHALL WACE ASIA Ltd’s portfolio, making the stock its 4th largest position. MARSHALL WACE ASIA Ltd owned about 0.22% of Praxair worth $82,017,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PX. Sandy Spring Bank raised its stake in 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 last quarter. Exane Derivatives acquired a new stake in Praxair during the second quarter valued at about $109,000. Tortoise Investment Management LLC raised 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 valued at $110,000 after buying an additional 31 shares during the last quarter. Capital Analysts LLC raised 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 valued at $120,000 after buying an additional 65 shares during the last quarter. Finally, V Wealth Management LLC acquired a new stake in Praxair during the second quarter valued at about $124,000. 85.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of Praxair, Inc. (NYSE PX) opened at 130.64 on Thursday. The stock’s 50 day moving average is $132.28 and its 200-day moving average is $126.53. The stock has a market capitalization of $37.37 billion, a price-to-earnings ratio of 24.46 and a beta of 0.93. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69.
Praxair (NYSE:PX) last issued its quarterly 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 previous year, the firm earned $1.39 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, 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 given a dividend of $0.7875 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.41%. Praxair’s dividend payout ratio is presently 58.88%.
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PX has been the subject of several analyst reports. BidaskClub lowered shares of Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and set a $162.00 price target on shares of Praxair in a research report on Wednesday, June 21st. J P Morgan Chase & Co restated an “overweight” rating and set a $156.00 price target (up from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Finally, Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and upped their price target for the company from $140.00 to $150.00 in a research report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus 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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