First National Trust Co. boosted its position in shares of Praxair, Inc. (NYSE:PX) by 16.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,849 shares of the basic materials company’s stock after purchasing an additional 1,393 shares during the period. First National Trust Co.’s holdings in Praxair were worth $1,376,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in PX. Parallel Advisors LLC raised its stake in shares of Praxair by 19.1% in the second quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 123 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of Praxair by 149.8% in the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 430 shares during the last quarter. BB&T Investment Services Inc. bought a new position in shares of Praxair in the second quarter worth about $106,000. Exane Derivatives bought a new position in shares of Praxair in the second quarter worth about $109,000. Finally, Tortoise Investment Management LLC raised its stake in shares of Praxair by 3.9% in the second quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 31 shares during the last quarter. 85.53% of the stock is owned by institutional investors.
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A number of brokerages have weighed in on PX. Zacks Investment Research downgraded shares of Praxair from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $162.00 price target on shares of Praxair in a research report on Friday, October 27th. BidaskClub cut shares of Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Citigroup Inc. upgraded shares of Praxair from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $137.00 to $168.00 in a research report on Monday, October 30th. Finally, Susquehanna Bancshares Inc lifted their price target on shares of Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $150.21.
In related news, Director Raymond W. Leboeuf sold 6,550 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $117.26, for a total transaction of $768,053.00. Following the completion of the transaction, the director now owns 16,697 shares in the company, valued at $1,957,890.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is currently owned by insiders.
Shares of Praxair, Inc. (PX) traded down $0.13 during midday trading on Tuesday, reaching $148.15. 1,455,900 shares of the company were exchanged, compared to its average volume of 1,297,747. The firm has a market capitalization of $42,453.35, a PE ratio of 25.83, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.91 and a current ratio of 1.11. Praxair, Inc. has a 52-week low of $115.00 and a 52-week high of $150.25.
Praxair (NYSE:PX) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.06. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.41 earnings per share. analysts forecast that Praxair, Inc. will post 5.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, December 7th will be issued a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Wednesday, December 6th. Praxair’s dividend payout ratio is currently 56.05%.
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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