Praxair, Inc. (PX) Stake Maintained by Dean Investment Associates LLC
Dean Investment Associates LLC held its stake in Praxair, Inc. (NYSE:PX) during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 45,227 shares of the basic materials company’s stock at the close of the 2nd quarter. Dean Investment Associates LLC’s holdings in Praxair were worth $5,364,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of PX. Klingenstein Fields & Co. LLC purchased a new stake in shares of Praxair during the first quarter worth about $200,000. Commerzbank Aktiengesellschaft FI grew its stake in shares of Praxair by 80.5% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 12,277 shares of the basic materials company’s stock worth $1,456,000 after acquiring an additional 5,474 shares during the last quarter. Norris Perne & French LLP MI grew its stake in shares of Praxair by 59.7% during the first quarter. Norris Perne & French LLP MI now owns 53,215 shares of the basic materials company’s stock worth $6,311,000 after acquiring an additional 19,884 shares during the last quarter. Parnassus Investments CA grew its stake in shares of Praxair by 48.5% during the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock worth $737,895,000 after acquiring an additional 2,091,079 shares during the last quarter. Finally, State Treasurer State of Michigan grew its stake in shares of Praxair by 0.3% during the first quarter. State Treasurer State of Michigan now owns 93,645 shares of the basic materials company’s stock worth $11,106,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.
Shares of Praxair, Inc. (PX) opened at 134.22 on Friday. The stock has a market capitalization of $38.39 billion, a PE ratio of 25.13 and a beta of 0.93. Praxair, Inc. has a 12 month low of $114.43 and a 12 month high of $138.69. The company’s 50 day moving average price is $131.52 and its 200 day moving average price is $128.05.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion during 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%. Praxair’s revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.39 earnings per share. Equities analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were issued a dividend of $0.7875 per share. The ex-dividend date was Wednesday, September 6th. This represents a $3.15 annualized dividend and a yield of 2.35%. Praxair’s dividend payout ratio is presently 58.88%.
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A number of equities research analysts recently commented on PX shares. Vertical Research upgraded Praxair to a “hold” rating and upped their target price for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $162.00 target price (up previously from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. BidaskClub lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Finally, Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $138.00.
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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