Praxair, Inc. (PX) Stake Lowered by Hedeker Wealth LLC
Hedeker Wealth LLC trimmed its position in shares of Praxair, Inc. (NYSE:PX) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,641 shares of the basic materials company’s stock after selling 265 shares during the period. Hedeker Wealth LLC’s holdings in Praxair were worth $1,410,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in PX. Sandy Spring Bank increased its holdings in shares of Praxair by 31.2% in the 1st 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. Parallel Advisors LLC increased its holdings in shares of Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after buying an additional 123 shares during the last quarter. Exane Derivatives bought a new stake in shares of Praxair in the 2nd quarter worth about $109,000. Tortoise Investment Management LLC increased its holdings in shares of Praxair by 3.9% in the 2nd 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. Finally, Capital Analysts LLC increased its holdings in shares of Praxair by 6.8% in the 1st quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock worth $120,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.
A number of analysts have recently weighed in on the stock. UBS AG upgraded shares of Praxair from a “neutral” rating to a “positive” rating in a report on Thursday. BidaskClub raised shares of Praxair from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. Zacks Investment Research cut shares of Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Vertical Research raised shares of Praxair to a “hold” rating and lifted their price target for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $136.82.
Shares of Praxair, Inc. (NYSE PX) opened at 132.46 on Friday. The stock has a 50 day moving average of $131.56 and a 200 day moving average of $127.46. The stock has a market cap of $37.89 billion, a PE ratio of 24.81 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, equities analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently declared 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 of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.38%. Praxair’s dividend payout ratio is currently 58.88%.
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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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