Praxair, Inc. (PX) Position Boosted by GAM Holding AG
GAM Holding AG raised its stake in shares of Praxair, Inc. (NYSE:PX) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,733 shares of the basic materials company’s stock after buying an additional 1,055 shares during the period. GAM Holding AG’s holdings in Praxair were worth $1,423,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. ARGI Investment Services LLC raised its position in shares of Praxair by 0.3% in the first quarter. ARGI Investment Services LLC now owns 2,007 shares of the basic materials company’s stock valued at $238,000 after buying an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock worth $131,000 after buying an additional 8 shares in the last quarter. Capital Management Corp VA raised 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 in the last quarter. Lcnb Corp raised its stake in shares of Praxair by 0.4% in the first quarter. Lcnb Corp now owns 3,892 shares of the basic materials company’s stock worth $461,000 after buying an additional 15 shares in the last quarter. Finally, Birch Hill Investment Advisors LLC raised its stake in shares of Praxair by 0.5% in the first quarter. Birch Hill Investment Advisors LLC now owns 4,154 shares of the basic materials company’s stock worth $493,000 after buying an additional 20 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.
Praxair, Inc. (NYSE PX) opened at 131.54 on Friday. The firm’s 50-day moving average price is $132.06 and its 200 day moving average price is $126.96. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The firm has a market capitalization of $37.62 billion, a P/E ratio of 24.63 and a beta of 0.93.
Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 earnings per share. On average, equities analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be paid a $0.7875 dividend. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.39%. Praxair’s dividend payout ratio is presently 58.88%.
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A number of brokerages recently weighed in on PX. BidaskClub lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Vertical Group upgraded Praxair to a “hold” rating and boosted their price objective for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Jefferies Group LLC restated a “buy” rating and set a $162.00 price objective (up previously from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. J P Morgan Chase & Co restated an “overweight” rating and set a $156.00 price objective (up previously from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Finally, Vertical Research upgraded Praxair to a “hold” rating and boosted their price objective for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price 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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