Simmons Bank Has $2.05 Million Position in Praxair, Inc. (PX)
Simmons Bank increased its stake in shares of Praxair, Inc. (NYSE:PX) by 0.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,461 shares of the basic materials company’s stock after buying an additional 11 shares during the quarter. Simmons Bank’s holdings in Praxair were worth $2,050,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its position in Praxair by 60.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 431,184 shares of the basic materials company’s stock worth $57,153,000 after buying an additional 163,035 shares in the last quarter. PointState Capital LP purchased a new position in Praxair during the second quarter worth approximately $76,481,000. Steadfast Capital Management LP purchased a new position in Praxair during the second quarter worth approximately $58,005,000. Green Square Capital LLC lifted its position in Praxair by 12.8% during the second quarter. Green Square Capital LLC now owns 3,805 shares of the basic materials company’s stock worth $504,000 after buying an additional 433 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its position in Praxair by 1.3% during the second quarter. Peapack Gladstone Financial Corp now owns 4,576 shares of the basic materials company’s stock worth $607,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 85.33% of the company’s stock.
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Praxair, Inc. (NYSE:PX) traded down 0.27% during midday trading on Friday, reaching $141.96. The company’s stock had a trading volume of 1,190,414 shares. The firm’s 50-day moving average price is $135.42 and its 200-day moving average price is $130.34. Praxair, Inc. has a 52 week low of $114.43 and a 52 week 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 issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.03. Praxair had a return on equity of 27.93% and a net margin of 14.10%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the company posted $1.39 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 8th were paid a dividend of $0.7875 per share. 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 presently 58.88%.
A number of brokerages recently commented on PX. BidaskClub upgraded Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Zacks Investment Research downgraded Praxair from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Jefferies Group LLC reiterated a “buy” rating and set a $162.00 price objective on shares of Praxair in a research report on Wednesday, June 21st. J P Morgan Chase & Co reissued an “overweight” rating and set a $156.00 target price (up previously from $130.00) on shares of Praxair in a research note on Sunday, June 11th. Finally, KeyCorp reissued a “hold” rating on shares of Praxair in a research note on Sunday, September 3rd. Two investment 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’s stock. Praxair has an average 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.
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