Investors Sell Shares of Praxair, Inc. (PX) on Strength (PX)
Traders sold shares of Praxair, Inc. (NYSE:PX) on strength during trading hours on Monday. $26.14 million flowed into the stock on the tick-up and $79.94 million flowed out of the stock on the tick-down, for a money net flow of $53.80 million out of the stock. Of all companies tracked, Praxair had the 10th highest net out-flow for the day. Praxair traded up $0.23 for the day and closed at $150.87
Several research firms have issued reports on PX. Zacks Investment Research lowered Praxair from a “hold” rating to a “sell” rating in a report on Friday, October 20th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Friday, October 27th. BidaskClub lowered Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Citigroup Inc. raised Praxair from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $137.00 to $168.00 in a research note on Monday, October 30th. Finally, Susquehanna Bancshares Inc upped their price objective on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $151.36.
The stock has a market capitalization of $43,130.00, a P/E ratio of 26.24, a P/E/G ratio of 2.25 and a beta of 0.99. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 1.22.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the company earned $1.41 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. analysts anticipate that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be paid a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s payout ratio is presently 56.05%.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The sale was disclosed in a filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Salem Investment Counselors Inc. raised its position in Praxair by 0.5% during the second quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock valued at $321,000 after purchasing an additional 13 shares during the period. Security National Bank of SO Dak raised its position in Praxair by 0.3% during the first quarter. Security National Bank of SO Dak now owns 11,157 shares of the basic materials company’s stock valued at $1,323,000 after purchasing an additional 28 shares during the period. Tortoise Investment Management LLC raised its position in Praxair by 3.9% during the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock valued at $110,000 after purchasing an additional 31 shares during the period. Elkhorn Investments LLC raised its position in Praxair by 0.3% during the second quarter. Elkhorn Investments LLC now owns 9,265 shares of the basic materials company’s stock valued at $1,206,000 after purchasing an additional 31 shares during the period. Finally, ZWJ Investment Counsel Inc. raised its position in Praxair by 2.6% during the second quarter. ZWJ Investment Counsel Inc. now owns 1,796 shares of the basic materials company’s stock valued at $238,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 84.82% of the company’s stock.
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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