Praxair, Inc. (PX) Position Boosted by Bruderman Asset Management LLC
Bruderman Asset Management LLC increased its position in Praxair, Inc. (NYSE:PX) by 1.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,301 shares of the basic materials company’s stock after purchasing an additional 115 shares during the period. Bruderman Asset Management LLC’s holdings in Praxair were worth $835,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. ARGI Investment Services LLC boosted its stake in Praxair by 0.3% in the 1st quarter. ARGI Investment Services LLC now owns 2,007 shares of the basic materials company’s stock worth $238,000 after purchasing an additional 6 shares during the period. Guardian Life Insurance Co. of America boosted its stake in 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. Capital Management Corp VA boosted its stake in Praxair by 0.6% in the 2nd quarter. Capital Management Corp VA now owns 1,871 shares of the basic materials company’s stock worth $248,000 after purchasing an additional 11 shares during the period. Lcnb Corp boosted its stake in Praxair by 0.4% in the 1st quarter. Lcnb Corp now owns 3,892 shares of the basic materials company’s stock worth $461,000 after purchasing an additional 15 shares during the period. Finally, Birch Hill Investment Advisors LLC boosted its stake in Praxair by 0.5% in the 1st quarter. Birch Hill Investment Advisors LLC now owns 4,154 shares of the basic materials company’s stock worth $493,000 after purchasing an additional 20 shares during the period. 85.33% of the stock is owned by hedge funds and other institutional investors.
Praxair, Inc. (NYSE PX) opened at 134.22 on Monday. The stock’s 50 day moving average is $131.52 and its 200-day moving average is $128.05. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The company has a market cap of $38.39 billion, a P/E ratio of 25.13 and a beta of 0.93.
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 Thomson Reuters’ consensus estimate 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 the consensus estimate of $2.80 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. Analysts predict that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Wednesday, September 6th. Praxair’s dividend payout ratio is 58.88%.
A number of equities analysts recently commented on PX shares. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Susquehanna Bancshares Inc raised shares of Praxair from a “neutral” rating to a “positive” rating and lifted their target price for the company from $131.00 to $155.00 in a research note on Thursday, September 7th. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research note on Friday, June 2nd. BidaskClub lowered shares of Praxair from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $162.00 target price (up previously from $140.00) on shares of Praxair in a research note on Saturday, June 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Praxair has a consensus rating of “Hold” and a consensus 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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