Praxair (PX) Given Hold Rating at Seaport Global Securities
Seaport Global Securities restated their hold rating on shares of Praxair (NYSE:PX) in a research note issued to investors on Tuesday morning. They currently have a $175.00 price objective on the basic materials company’s stock. Seaport Global Securities also issued estimates for Praxair’s Q3 2018 earnings at $1.70 EPS, Q4 2018 earnings at $1.75 EPS, FY2018 earnings at $6.82 EPS, Q1 2019 earnings at $1.79 EPS, Q2 2019 earnings at $1.87 EPS, Q3 2019 earnings at $1.87 EPS, Q4 2019 earnings at $1.92 EPS and FY2019 earnings at $7.46 EPS.
Several other research analysts have also recently weighed in on the company. BMO Capital Markets boosted their target price on Praxair from $164.00 to $170.00 and gave the stock a market perform rating in a report on Monday, July 30th. JPMorgan Chase & Co. boosted their target price on Praxair from $180.00 to $184.00 and gave the stock an overweight rating in a report on Friday, July 27th. Zacks Investment Research cut Praxair from a hold rating to a sell rating in a report on Thursday, July 19th. Jefferies Financial Group restated a $165.03 rating and set a $194.00 target price on shares of Praxair in a report on Wednesday, July 18th. Finally, Citigroup boosted their target price on Praxair from $177.00 to $189.00 and gave the stock a buy rating in a report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Praxair has a consensus rating of Buy and an average price target of $178.42.
Shares of Praxair stock opened at $154.79 on Tuesday. The company has a market cap of $45.16 billion, a PE ratio of 26.46, a P/E/G ratio of 2.01 and a beta of 1.11. Praxair has a 1-year low of $127.36 and a 1-year high of $168.54. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.78 and a current ratio of 0.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Investors of record on Monday, August 6th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, August 3rd. Praxair’s dividend payout ratio is presently 56.41%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PX. Ashfield Capital Partners LLC lifted its holdings in Praxair by 5.9% in the first quarter. Ashfield Capital Partners LLC now owns 30,193 shares of the basic materials company’s stock valued at $4,357,000 after acquiring an additional 1,675 shares during the last quarter. Tower Bridge Advisors lifted its holdings in Praxair by 2.5% in the first quarter. Tower Bridge Advisors now owns 20,844 shares of the basic materials company’s stock valued at $3,008,000 after acquiring an additional 500 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Praxair by 8.9% in the first quarter. Daiwa Securities Group Inc. now owns 9,702 shares of the basic materials company’s stock valued at $1,400,000 after acquiring an additional 791 shares during the last quarter. AKO Capital LLP lifted its holdings in Praxair by 10.3% in the first quarter. AKO Capital LLP now owns 467,823 shares of the basic materials company’s stock valued at $67,507,000 after acquiring an additional 43,511 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Praxair by 6.6% during the first quarter. Rhumbline Advisers now owns 540,535 shares of the basic materials company’s stock worth $77,999,000 after purchasing an additional 33,302 shares in the last quarter. Hedge funds and other institutional investors own 85.61% of the company’s stock.
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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