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.

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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.

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Institutional Ownership by Quarter for Praxair (NYSE:PX)

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