Praxair, Inc. (PX) Holdings Maintained by Manchester Capital Management LLC
Manchester Capital Management LLC maintained its stake in shares of Praxair, Inc. (NYSE:PX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,755 shares of the basic materials company’s stock at the end of the 2nd quarter. Manchester Capital Management LLC’s holdings in Praxair were worth $233,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PX. Greenleaf Trust acquired a new position in Praxair during the first quarter worth about $1,098,000. Markel Corp raised its position in Praxair by 26.9% during the first quarter. Markel Corp now owns 61,400 shares of the basic materials company’s stock worth $7,282,000 after acquiring an additional 13,000 shares during the last quarter. Grandfield & Dodd LLC raised its position in Praxair by 0.8% during the first quarter. Grandfield & Dodd LLC now owns 121,026 shares of the basic materials company’s stock worth $14,354,000 after acquiring an additional 1,012 shares during the last quarter. Advisory Services Network LLC acquired a new position in Praxair during the first quarter worth about $294,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Praxair by 3.6% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 46,478 shares of the basic materials company’s stock worth $5,512,000 after acquiring an additional 1,620 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.
PX has been the subject of a number of research reports. Deutsche Bank AG restated a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Jefferies Group LLC restated a “buy” rating and set a $162.00 target price (up previously from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Vertical Group upgraded shares of Praxair to a “hold” rating and lifted their target price for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Bank of America Corporation upgraded shares of Praxair from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $150.00 in a research report on Wednesday, June 7th. Finally, Vertical Research upgraded shares of Praxair to a “hold” rating and lifted their target price for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $136.82.
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Praxair, Inc. (PX) opened at 132.46 on Monday. Praxair, Inc. has a 52-week low of $114.43 and a 52-week high of $138.69. The stock has a 50 day moving average of $131.56 and a 200-day moving average of $127.46. The firm has a market cap of $37.89 billion, a price-to-earnings ratio of 24.81 and a beta of 0.93.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating 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 analyst estimates of $2.80 billion. During the same period in the prior year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts expect that Praxair, Inc. will post $5.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio is presently 58.88%.
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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