Neville Rodie & Shaw Inc. increased its position in shares of Praxair, Inc. (NYSE:PX) by 43.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,359 shares of the basic materials company’s stock after purchasing an additional 2,540 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Praxair were worth $1,293,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PX. Kistler Tiffany Companies LLC grew its position in Praxair by 149.8% in the third quarter. Kistler Tiffany Companies LLC now owns 717 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 430 shares during the period. BB&T Investment Services Inc. bought a new stake in Praxair in the second quarter valued at $106,000. Pacific Center for Financial Services grew its position in Praxair by 65.7% in the second quarter. Pacific Center for Financial Services now owns 898 shares of the basic materials company’s stock valued at $119,000 after acquiring an additional 356 shares during the period. TCI Wealth Advisors Inc. grew its position in Praxair by 7.0% in the second quarter. TCI Wealth Advisors Inc. now owns 916 shares of the basic materials company’s stock valued at $121,000 after acquiring an additional 60 shares during the period. Finally, Accident Compensation Corp bought a new stake in Praxair in the third quarter valued at $140,000. Institutional investors and hedge funds own 85.48% of the company’s stock.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was 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 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 this hyperlink. Corporate insiders own 0.23% of the company’s stock.
Praxair (NYSE:PX) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.06. Praxair had a return on equity of 27.13% and a net margin of 14.56%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. equities analysts predict that Praxair, Inc. will post 5.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, December 7th were paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Wednesday, December 6th. Praxair’s dividend payout ratio (DPR) is presently 56.05%.
PX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Praxair from $145.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, November 17th. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $165.00 price objective on the stock in a research note on Monday, November 6th. Susquehanna Bancshares raised Praxair from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $131.00 to $155.00 in a research note on Thursday, September 7th. Argus raised Praxair from a “hold” rating to a “buy” rating and set a $171.00 price objective on the stock in a research note on Monday, November 13th. Finally, Jefferies Group reissued a “buy” rating and issued a $162.00 price objective on shares of Praxair in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $158.64.
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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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