Traders Buy Shares of Praxair (PX) on Weakness
Investors bought shares of Praxair (NYSE:PX) on weakness during trading on Monday. $50.69 million flowed into the stock on the tick-up and $21.11 million flowed out of the stock on the tick-down, for a money net flow of $29.58 million into the stock. Of all companies tracked, Praxair had the 32nd highest net in-flow for the day. Praxair traded down ($0.32) for the day and closed at $150.36
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Praxair from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. SunTrust Banks boosted their price objective on shares of Praxair to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. TheStreet lowered shares of Praxair from an “a-” rating to a “c+” rating in a research note on Thursday, January 25th. Raymond James reissued an “outperform” rating on shares of Praxair in a research note on Tuesday, January 23rd. Finally, ValuEngine raised shares of Praxair from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Praxair currently has an average rating of “Buy” and an average price target of $165.27.
The company has a current ratio of 0.99, a quick ratio of 0.81 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $43,265.74, a PE ratio of 25.70, a PEG ratio of 1.96 and a beta of 1.08.
Institutional investors have recently modified their holdings of the business. Clearbridge Investments LLC raised its holdings in shares of Praxair by 40,275.1% during the fourth quarter. Clearbridge Investments LLC now owns 2,227,898 shares of the basic materials company’s stock valued at $344,611,000 after purchasing an additional 2,222,380 shares during the last quarter. Egerton Capital UK LLP raised its holdings in shares of Praxair by 24.5% during the fourth quarter. Egerton Capital UK LLP now owns 4,213,976 shares of the basic materials company’s stock valued at $651,818,000 after purchasing an additional 829,003 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Praxair by 593.7% during the fourth quarter. Schroder Investment Management Group now owns 743,441 shares of the basic materials company’s stock valued at $114,995,000 after purchasing an additional 636,277 shares during the last quarter. State of Tennessee Treasury Department raised its holdings in shares of Praxair by 591.4% during the fourth quarter. State of Tennessee Treasury Department now owns 537,762 shares of the basic materials company’s stock valued at $83,182,000 after purchasing an additional 459,978 shares during the last quarter. Finally, Governors Lane LP purchased a new position in shares of Praxair during the fourth quarter valued at approximately $70,318,000. 86.33% of the stock is owned by institutional investors and hedge funds.
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Praxair Company Profile
Praxair, Inc produces and distributes industrial gases. It operates through five segments: North America, Europe, South America, Asia, and Surface Technologies. The company offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.
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