Praxair, Inc. (PX) Shares Bought by Santa Barbara Asset Management LLC
Santa Barbara Asset Management LLC grew its stake in Praxair, Inc. (NYSE:PX) by 11.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,137,627 shares of the basic materials company’s stock after acquiring an additional 118,253 shares during the period. Praxair accounts for about 2.5% of Santa Barbara Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Santa Barbara Asset Management LLC owned approximately 0.40% of Praxair worth $158,972,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Praxair by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 20,803,262 shares of the basic materials company’s stock worth $2,757,471,000 after buying an additional 523,022 shares during the period. Capital World Investors grew its position in shares of Praxair by 4.3% during the 2nd quarter. Capital World Investors now owns 17,332,349 shares of the basic materials company’s stock worth $2,297,403,000 after buying an additional 716,835 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Praxair by 1.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,868,280 shares of the basic materials company’s stock worth $683,156,000 after buying an additional 77,300 shares during the period. Egerton Capital UK LLP grew its position in shares of Praxair by 24.0% during the 3rd quarter. Egerton Capital UK LLP now owns 3,384,973 shares of the basic materials company’s stock worth $473,016,000 after buying an additional 655,456 shares during the period. Finally, CI Global Investments Inc. grew its position in shares of Praxair by 2.2% during the 3rd quarter. CI Global Investments Inc. now owns 1,976,870 shares of the basic materials company’s stock worth $276,248,000 after buying an additional 43,093 shares during the period. 86.43% of the stock is owned by institutional investors.
Several brokerages have recently commented on PX. Zacks Investment Research cut shares of Praxair from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. SunTrust Banks reiterated a “buy” rating and set a $162.00 price target on shares of Praxair in a research report on Friday, October 27th. Citigroup upgraded shares of Praxair from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $137.00 to $168.00 in a research report on Monday, October 30th. Susquehanna Bancshares lifted their price target on shares of Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Finally, BidaskClub upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Praxair presently has a consensus rating of “Hold” and an average price target of $154.31.
Shares of Praxair, Inc. (PX) traded down $0.28 during midday trading on Wednesday, reaching $153.08. 1,308,100 shares of the company were exchanged, compared to its average volume of 1,337,371. The firm has a market capitalization of $43,907.78, a PE ratio of 26.72, a P/E/G ratio of 2.29 and a beta of 1.00. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. Praxair, Inc. has a 52-week low of $115.00 and a 52-week high of $156.40.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.06. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. analysts forecast that Praxair, Inc. will post 5.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s dividend payout ratio is currently 56.05%.
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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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