Praxair (PX) Upgraded by Deutsche Bank to “Buy”
Deutsche Bank upgraded shares of Praxair (NYSE:PX) from a hold rating to a buy rating in a research report report published on Tuesday morning. The brokerage currently has $175.00 target price on the basic materials company’s stock.
PX has been the subject of a number of other reports. Zacks Investment Research cut Praxair from a hold rating to a sell rating in a research report on Friday, October 20th. SunTrust Banks reissued a buy rating and issued a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. Citigroup raised Praxair from a neutral rating to a buy rating and upped their target price for the company from $137.00 to $168.00 in a research report on Monday, October 30th. UBS upped their target price on Praxair to $176.00 and gave the company a buy rating in a research report on Friday, December 15th. Finally, Susquehanna Bancshares increased their price objective on Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $158.64.
Shares of Praxair (NYSE PX) opened at $154.17 on Tuesday. The stock has a market capitalization of $43,899.19, a PE ratio of 26.71, 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 current ratio of 1.11 and a quick ratio of 0.91. Praxair has a 1 year low of $115.00 and a 1 year high of $156.40.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, December 7th were given a dividend of $0.7875 per share. The ex-dividend date was Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a yield of 2.04%. Praxair’s payout ratio is 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the completion of the sale, the director now directly owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its holdings in shares of Praxair by 0.5% in the 2nd quarter. Salem Investment Counselors Inc. now owns 2,418 shares of the basic materials company’s stock valued at $321,000 after buying an additional 13 shares during the period. Tortoise Investment Management LLC increased its stake in Praxair by 3.9% in the 2nd 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 in the last quarter. Elkhorn Investments LLC increased its stake in Praxair by 0.3% in the 2nd 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 in the last quarter. ZWJ Investment Counsel Inc. increased its stake in Praxair by 2.6% in the 2nd 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 in the last quarter. Finally, Peapack Gladstone Financial Corp increased 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. 85.55% of the stock is owned by institutional investors and hedge funds.
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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