Swiss National Bank Boosts Position in Praxair, Inc. (PX)
Swiss National Bank grew its position in shares of Praxair, Inc. (NYSE:PX) by 2.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,152,367 shares of the basic materials company’s stock after purchasing an additional 31,400 shares during the period. Swiss National Bank owned approximately 0.40% of Praxair worth $152,746,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of PX. Sandy Spring Bank raised its stake in shares of Praxair by 31.2% during the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 200 shares during the period. Parallel Advisors LLC raised its stake in shares of Praxair by 19.1% during the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 123 shares during the period. Exane Derivatives purchased a new stake in shares of Praxair during the second quarter valued at approximately $109,000. Tortoise Investment Management LLC raised its stake in shares of Praxair by 3.9% during the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 31 shares during the period. Finally, Capital Analysts LLC raised its stake in shares of Praxair by 6.8% during the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 65 shares during the period. Institutional investors own 85.34% of the company’s stock.
Shares of Praxair, Inc. (PX) opened at 131.77 on Thursday. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69. The firm has a market cap of $37.69 billion, a P/E ratio of 24.68 and a beta of 0.93. The stock’s 50 day moving average is $131.73 and its 200-day moving average is $127.39.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is 58.88%.
PX has been the topic of a number of analyst reports. BidaskClub lowered shares of Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. KeyCorp reiterated a “hold” rating on shares of Praxair in a research note on Sunday. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “buy” rating and set a $148.00 price objective on the stock in a research note on Monday, July 31st. Finally, Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $150.00 in a research note on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. Praxair currently has an average rating of “Hold” and a consensus 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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