King Luther Capital Management Corp lifted its position in Praxair, Inc. (NYSE:PX) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 147,960 shares of the basic materials company’s stock after acquiring an additional 6,345 shares during the quarter. King Luther Capital Management Corp owned approximately 0.05% of Praxair worth $20,676,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. Kistler Tiffany Companies LLC lifted its position in 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 buying an additional 430 shares in the last quarter. Parallel Advisors LLC lifted its position in 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 buying an additional 123 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in Praxair in the 2nd quarter worth approximately $106,000. Tortoise Investment Management LLC lifted its position in 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 buying an additional 31 shares in the last quarter. Finally, Pacific Center for Financial Services lifted its position in 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 buying an additional 356 shares in the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.
A number of research firms have issued reports on PX. Zacks Investment Research downgraded shares of Praxair from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. SunTrust Banks reiterated a “buy” rating and issued a $162.00 target price on shares of Praxair in a research report on Friday, October 27th. Citigroup upgraded shares of Praxair from a “neutral” rating to a “buy” rating and increased their target price for the stock from $137.00 to $168.00 in a research report on Monday, October 30th. Susquehanna Bancshares increased their target price on shares of Praxair from $155.00 to $175.00 in a research report on Tuesday, November 7th. Finally, BidaskClub upgraded shares of Praxair from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Praxair has a consensus rating of “Hold” and a consensus price target of $154.31.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.06. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. Praxair’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. equities research analysts anticipate that Praxair, Inc. will post 5.81 EPS for the current 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 issued a dividend of $0.7875 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.06%. Praxair’s dividend payout ratio is currently 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’s stock in a transaction 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 transaction, the director now owns 16,697 shares in the company, valued at approximately $1,957,890.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by company 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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