South Dakota Investment Council Holds Position in Praxair, Inc. (PX)
South Dakota Investment Council held its stake in Praxair, Inc. (NYSE:PX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,000 shares of the basic materials company’s stock at the close of the 2nd quarter. South Dakota Investment Council’s holdings in Praxair were worth $1,723,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its stake in Praxair by 2,091.9% during the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after acquiring an additional 16,839,374 shares in the last quarter. Parnassus Investments CA grew its stake in Praxair by 48.5% during the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after acquiring an additional 2,091,079 shares in the last quarter. Renaissance Technologies LLC grew its stake in Praxair by 287.7% during the first quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock valued at $185,099,000 after acquiring an additional 1,158,100 shares in the last quarter. CI Global Investments Inc. purchased a new position in Praxair during the first quarter valued at $95,019,000. Finally, MARSHALL WACE ASIA Ltd purchased a new position in Praxair during the first quarter valued at $55,637,000. 85.34% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the stock. UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a research note on Thursday, September 7th. BidaskClub upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Zacks Investment Research lowered shares of Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Vertical Research upgraded shares of Praxair to a “hold” rating and increased their price objective for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Finally, KeyCorp reiterated a “hold” rating on shares of Praxair in a research report 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 stock presently has an average rating of “Hold” and a consensus target price of $136.82.
Praxair, Inc. (NYSE PX) opened at 134.82 on Wednesday. The firm has a market capitalization of $38.56 billion, a PE ratio of 25.25 and a beta of 0.93. Praxair, Inc. has a 1-year low of $114.43 and a 1-year high of $138.69. The company has a 50 day moving average of $131.57 and a 200 day moving average of $127.72.
Praxair (NYSE:PX) last released its earnings results 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 return on equity of 27.93% and a net margin of 14.10%. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the company earned $1.39 earnings per share. Praxair’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts forecast that Praxair, Inc. will post $5.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders 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 dividend yield of 2.34%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s dividend payout ratio is currently 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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