Boston Private Wealth LLC lowered its position in Praxair, Inc. (NYSE:PX) by 14.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,467 shares of the basic materials company’s stock after selling 4,163 shares during the period. Boston Private Wealth LLC’s holdings in Praxair were worth $3,020,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in shares of Praxair by 86.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 81,541 shares of the basic materials company’s stock valued at $9,556,000 after buying an additional 37,841 shares in the last quarter. Cigna Investments Inc. New acquired a new position in shares of Praxair during the fourth quarter valued at approximately $1,242,000. Capital International Ltd. CA boosted its position in shares of Praxair by 29.3% in the fourth quarter. Capital International Ltd. CA now owns 52,638 shares of the basic materials company’s stock valued at $6,169,000 after buying an additional 11,938 shares in the last quarter. Capital International Inc. CA boosted its position in shares of Praxair by 36.2% in the fourth quarter. Capital International Inc. CA now owns 8,650 shares of the basic materials company’s stock valued at $1,014,000 after buying an additional 2,300 shares in the last quarter. Finally, Congress Asset Management Co. MA purchased a new stake in shares of Praxair during the fourth quarter worth $723,000. 85.64% of the stock is owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (PX) traded down 0.34% during trading on Friday, reaching $132.26. 1,486,865 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $134.04 and its 200 day moving average price is $124.69. Praxair, Inc. has a 52 week low of $114.43 and a 52 week high of $138.69. The firm has a market capitalization of $37.84 billion, a PE ratio of 24.77 and a beta of 0.94.
Praxair (NYSE:PX) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the firm posted $1.39 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts predict that Praxair, Inc. will post $5.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be given a dividend of $0.7875 per share. The ex-dividend date is Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.38%. Praxair’s dividend payout ratio (DPR) is 58.88%.
A number of brokerages have recently weighed in on PX. BidaskClub lowered shares of Praxair from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Praxair from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and issued a $162.00 price objective on shares of Praxair in a report on Wednesday, June 21st. J P Morgan Chase & Co reiterated an “overweight” rating and set a $156.00 price target (up from $130.00) on shares of Praxair in a research note on Sunday, June 11th. Finally, Vertical Research upgraded shares of Praxair to a “hold” rating and lifted their price target for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $132.82.
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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