Green Square Capital LLC Raises Holdings in Praxair, Inc. (PX)
Green Square Capital LLC grew its position in Praxair, Inc. (NYSE:PX) by 12.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,805 shares of the basic materials company’s stock after purchasing an additional 433 shares during the period. Green Square Capital LLC’s holdings in Praxair were worth $504,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased its position in Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 123 shares during the last quarter. Exane Derivatives acquired a new position in Praxair in the 2nd quarter worth about $109,000. Tortoise Investment Management LLC increased its position in Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 31 shares during the last quarter. Sandy Spring Bank increased its position in 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 last quarter. Finally, Pacific Center for Financial Services increased its position in Praxair by 65.7% in the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 356 shares during the last quarter. 85.33% of the stock is currently owned by institutional investors.
Shares of Praxair, Inc. (PX) traded down 0.27% on Friday, hitting $141.96. The stock had a trading volume of 1,190,414 shares. The firm’s 50 day moving average is $135.42 and its 200-day moving average is $130.34. Praxair, Inc. has a one year low of $114.43 and a one year high of $142.97. The stock has a market capitalization of $40.60 billion, a PE ratio of 26.58 and a beta of 0.95.
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 analysts’ consensus estimates of $1.43 by $0.03. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a return on equity of 27.93% and a net margin of 14.10%. Praxair’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.39 earnings per share. Equities research analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were given a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Wednesday, September 6th. Praxair’s dividend payout ratio is currently 58.88%.
Several research analysts have weighed in on the company. BidaskClub raised Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 target price on shares of Praxair in a research report on Wednesday, June 21st. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $156.00 target price (up from $130.00) on shares of Praxair in a research report on Sunday, June 11th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus 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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