Caxton Associates LP Invests $3.14 Million in Praxair, Inc. (PX) Stock
Caxton Associates LP bought a new stake in Praxair, Inc. (NYSE:PX) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 22,500 shares of the basic materials company’s stock, valued at approximately $3,144,000.
A number of other large investors have also bought and sold shares of PX. Vident Investment Advisory LLC acquired a new stake in shares of Praxair in the third quarter valued at $480,000. Claar Advisors LLC acquired a new stake in shares of Praxair in the third quarter valued at $17,468,000. Cornerstone Capital Management Holdings LLC. grew its stake in shares of Praxair by 1.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 60,250 shares of the basic materials company’s stock valued at $8,419,000 after buying an additional 1,015 shares in the last quarter. Chevy Chase Trust Holdings Inc. grew its stake in shares of Praxair by 1.0% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 256,321 shares of the basic materials company’s stock valued at $35,818,000 after buying an additional 2,489 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Praxair by 3.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 31,514 shares of the basic materials company’s stock valued at $4,404,000 after buying an additional 942 shares in the last quarter. Institutional investors own 86.43% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. SunTrust Banks reaffirmed a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Friday, October 27th. J P Morgan Chase & Co lifted their price objective on Praxair from $145.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. Susquehanna Bancshares lifted their price objective on Praxair from $155.00 to $175.00 in a research note on Tuesday, November 7th. Finally, Argus raised Praxair from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a research note on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $154.31.
Praxair, Inc. (NYSE PX) opened at $151.41 on Friday. Praxair, Inc. has a one year low of $115.00 and a one year high of $156.40. The company has a market capitalization of $43,349.44, a price-to-earnings ratio of 26.38, a P/E/G ratio of 2.26 and a beta of 1.00. 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 released its earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the firm posted $1.41 EPS. Praxair’s revenue for the quarter was up 7.6% on a year-over-year basis. analysts anticipate that Praxair, Inc. will post 5.81 earnings per share for the current fiscal year.
The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $3.15 annualized dividend and a yield of 2.08%. Praxair’s payout ratio is 56.05%.
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.
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.