Praxair, Inc. (NYSE:PX) announced a quarterly dividend on Thursday, October 26th, RTT News reports. Investors of record on Thursday, December 7th will be given a dividend of 0.7875 per share by the basic materials company on Friday, December 15th. This represents a $3.15 annualized dividend and a yield of 2.05%. The ex-dividend date is Wednesday, December 6th.
Praxair has increased its dividend payment by an average of 7.7% annually over the last three years and has raised its dividend every year for the last 12 years. Praxair has a dividend payout ratio of 54.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Praxair to earn $6.26 per share next year, which means the company should continue to be able to cover its $3.15 annual dividend with an expected future payout ratio of 50.3%.
Shares of Praxair (PX) opened at $153.36 on Tuesday. Praxair has a twelve month low of $115.00 and a twelve month high of $156.40. The company has a market capitalization of $43,910.00, a PE ratio of 26.46, a P/E/G ratio of 2.26 and a beta of 1.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.11 and a quick ratio of 0.91.
PX has been the subject of several research analyst reports. Susquehanna Bancshares upgraded Praxair from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $131.00 to $155.00 in a report on Thursday, September 7th. Zacks Investment Research upgraded Praxair from a “hold” rating to a “buy” rating and set a $165.00 price objective for the company in a report on Monday, November 6th. UBS upgraded Praxair from a “neutral” rating to a “positive” rating in a report on Thursday, September 7th. 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. Finally, J P Morgan Chase & Co raised their target price on Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, November 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $154.31.
In other Praxair news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $117.26, for a total value of $768,053.00. Following the transaction, the director now directly owns 16,697 shares of the company’s stock, valued at $1,957,890.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.
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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