Columbia Partners L L C Investment Management purchased a new stake in shares of Praxair, Inc. (NYSE:PX) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 30,561 shares of the basic materials company’s stock, valued at approximately $4,050,000.
A number of other large investors have also recently modified their holdings of PX. BlackRock Inc. boosted its position in Praxair by 2,091.9% in the 1st quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares during the period. Renaissance Technologies LLC lifted its position in shares of Praxair by 287.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,560,700 shares of the basic materials company’s stock worth $185,099,000 after purchasing an additional 1,158,100 shares during the period. CI Global Investments Inc. lifted its position in shares of Praxair by 141.4% in the 2nd quarter. CI Global Investments Inc. now owns 1,933,777 shares of the basic materials company’s stock worth $256,322,000 after purchasing an additional 1,132,606 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Praxair in the 1st quarter worth approximately $55,637,000. Finally, Wellington Management Group LLP lifted its position in shares of Praxair by 6.2% in the 1st quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock worth $900,147,000 after purchasing an additional 446,016 shares during the period. Institutional investors own 85.33% of the company’s stock.
Several equities research analysts have recently weighed in on PX shares. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price target (up previously from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Vertical Group raised shares of Praxair to a “hold” rating and upped their price target for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Bank of America Corporation raised shares of Praxair from a “neutral” rating to a “buy” rating and upped their price target for the stock from $140.00 to $150.00 in a research report on Wednesday, June 7th. Finally, Vertical Research raised shares of Praxair to a “hold” rating and upped their price target for the stock from $123.00 to $127.00 in a research report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $138.00.
Shares of Praxair, Inc. (NYSE PX) traded up 0.42% on Tuesday, reaching $135.31. 370,085 shares of the company’s stock were exchanged. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The firm has a market capitalization of $38.70 billion, a P/E ratio of 25.34 and a beta of 0.93. The firm has a 50 day moving average of $131.59 and a 200 day moving average of $128.29.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.03. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. On average, equities research analysts predict that Praxair, Inc. will post $5.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 8th were given a dividend of $0.7875 per share. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $3.15 annualized dividend and a dividend yield of 2.34%. Praxair’s dividend payout ratio is presently 58.88%.
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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