BB&T Securities LLC boosted its stake in Praxair, Inc. (NYSE:PX) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,646 shares of the basic materials company’s stock after acquiring an additional 1,734 shares during the period. BB&T Securities LLC’s holdings in Praxair were worth $2,884,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PX. Parallel Advisors LLC raised its position in shares of Praxair by 19.1% in the 2nd quarter. Parallel Advisors LLC now owns 768 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 123 shares during the last quarter. Kistler Tiffany Companies LLC raised its position in shares of Praxair by 149.8% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 430 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in shares of Praxair in the 2nd quarter worth about $106,000. Tortoise Investment Management LLC raised its position in shares of Praxair by 3.9% in the 2nd quarter. Tortoise Investment Management LLC now owns 831 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 31 shares during the last quarter. Finally, Pacific Center for Financial Services raised its position in shares of Praxair by 65.7% in the 2nd quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 356 shares during the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.
A number of equities analysts have weighed in on the company. BidaskClub raised Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. KeyCorp reissued a “hold” rating on shares of Praxair in a research report on Sunday, September 3rd. UBS raised Praxair from a “neutral” rating to a “positive” rating in a research report on Thursday, September 7th. Susquehanna Bancshares raised Praxair from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $131.00 to $155.00 in a research report on Thursday, September 7th. Finally, Jefferies Group reissued a “buy” rating and issued a $162.00 target price on shares of Praxair in a research report on Thursday, October 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $154.31.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.06. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. analysts forecast that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, December 7th will be given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, December 6th. Praxair’s payout ratio is currently 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the company’s stock in a transaction dated 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 sale, the director now owns 16,697 shares of the company’s stock, valued at approximately $1,957,890.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.
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Praxair Company Profile
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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