Beach Investment Management LLC. Buys Shares of 41,426 Praxair, Inc. (PX)
Beach Investment Management LLC. bought a new position in Praxair, Inc. (NYSE:PX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 41,426 shares of the basic materials company’s stock, valued at approximately $5,491,000.
A number of other hedge funds also recently modified their holdings of PX. Sandy Spring Bank lifted its position 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 purchasing an additional 200 shares during the period. Exane Derivatives purchased a new stake in shares of Praxair in the 2nd quarter worth approximately $109,000. Capital Analysts LLC lifted its position 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 purchasing an additional 65 shares during the period. V Wealth Management LLC purchased a new stake in shares of Praxair in the 2nd quarter worth approximately $124,000. Finally, Guardian Life Insurance Co. of America lifted its position in shares of Praxair by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock worth $131,000 after purchasing an additional 8 shares during the period. Institutional investors and hedge funds own 85.34% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Beach Investment Management LLC. Buys Shares of 41,426 Praxair, Inc. (PX)” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/17/beach-investment-management-llc-buys-shares-of-41426-praxair-inc-px.html.
Praxair, Inc. (NYSE:PX) opened at 134.22 on Friday. The firm has a 50 day moving average of $131.52 and a 200-day moving average of $128.05. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The stock has a market cap of $38.39 billion, a PE ratio of 25.13 and a beta of 0.93.
Praxair (NYSE:PX) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.39 EPS. On average, analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 8th were issued a $0.7875 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.35%. Praxair’s dividend payout ratio (DPR) is 58.88%.
Several equities research analysts have recently weighed in on PX shares. BidaskClub cut shares of Praxair from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised shares of Praxair from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Susquehanna Bancshares Inc raised shares of Praxair from a “neutral” rating to a “positive” rating and upped their price target for the stock from $131.00 to $155.00 in a research report on Thursday, September 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price target on shares of Praxair in a research report on Wednesday, June 21st. Finally, UBS AG raised shares of Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $138.00.
Praxair Company Profile
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.
Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair, Inc. (NYSE:PX).
Receive News & Stock Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related stocks with our FREE daily email newsletter.