ProShare Advisors LLC Has $7.98 Million Holdings in Praxair, Inc. (PX)
ProShare Advisors LLC lessened its holdings in Praxair, Inc. (NYSE:PX) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,164 shares of the basic materials company’s stock after selling 4,499 shares during the quarter. ProShare Advisors LLC’s holdings in Praxair were worth $7,975,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. ARGI Investment Services LLC grew its holdings in shares of 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 last quarter. Guardian Life Insurance Co. of America grew its holdings 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 last quarter. Capital Management Corp VA grew its holdings in shares of 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 last quarter. Lcnb Corp grew its holdings in shares of 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 last quarter. Finally, Birch Hill Investment Advisors LLC grew its holdings in shares of 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 last quarter. 85.33% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This report was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/09/19/proshare-advisors-llc-has-7-98-million-holdings-in-praxair-inc-px.html.
Shares of Praxair, Inc. (PX) traded up 0.412% on Tuesday, reaching $135.295. 101,798 shares of the company traded hands. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The firm’s 50 day moving average is $131.59 and its 200 day moving average is $128.29. The company has a market capitalization of $38.70 billion, a P/E ratio of 25.336 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. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the business posted $1.39 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were issued a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is currently 58.88%.
Several research firms have recently weighed in on PX. BidaskClub lowered shares of Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Vertical Group raised shares of Praxair to a “hold” rating and upped their target price for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price (up previously from $140.00) on shares of Praxair in a report on Saturday, June 3rd. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $156.00 target price (up previously from $130.00) on shares of Praxair in a report on Sunday, June 11th. Finally, Vertical Research raised shares of Praxair to a “hold” rating and upped their target price for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. 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 company. The company presently has a consensus rating of “Hold” and a consensus 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.
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.