Praxair, Inc. (NYSE:PX) – Equities researchers at Jefferies Group upped their FY2018 earnings estimates for shares of Praxair in a research note issued on Tuesday. Jefferies Group analyst L. Alexander now expects that the basic materials company will post earnings of $6.75 per share for the year, up from their previous estimate of $6.35. Jefferies Group has a “Buy” rating and a $186.00 price objective on the stock. Jefferies Group also issued estimates for Praxair’s FY2019 earnings at $7.25 EPS and FY2020 earnings at $7.90 EPS.
Several other brokerages have also commented on PX. Zacks Investment Research upgraded shares of Praxair from a “hold” rating to a “buy” rating and set a $176.00 price target on the stock in a research note on Friday. Deutsche Bank upgraded shares of Praxair from a “hold” rating to a “buy” rating and increased their price target for the company from $155.00 to $175.00 in a research note on Tuesday, December 19th. Barclays increased their price target on shares of Praxair from $140.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, October 27th. SunTrust Banks reiterated a “buy” rating and issued a $162.00 price target on shares of Praxair in a research note on Friday, October 27th. Finally, UBS Group raised their target price on shares of Praxair to $176.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Praxair presently has a consensus rating of “Buy” and a consensus target price of $159.43.
Praxair (NYSE:PX) last announced 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. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.84 billion. Praxair had a net margin of 14.56% and a return on equity of 27.13%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, December 7th were given a dividend of $0.7875 per share. The ex-dividend date of this dividend was Wednesday, December 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 1.97%. Praxair’s dividend payout ratio (DPR) is presently 56.05%.
In other news, Director Raymond W. Leboeuf sold 6,550 shares of the firm’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 transaction, the director now directly owns 16,697 shares in the company, valued at $1,957,890.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Washington Trust Bank grew its position in Praxair by 3.8% in the 4th quarter. Washington Trust Bank now owns 31,114 shares of the basic materials company’s stock valued at $4,813,000 after buying an additional 1,151 shares during the last quarter. Neville Rodie & Shaw Inc. grew its position in Praxair by 43.7% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 8,359 shares of the basic materials company’s stock valued at $1,293,000 after buying an additional 2,540 shares during the last quarter. Atlantic Trust Group LLC grew its position in Praxair by 1.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 910,983 shares of the basic materials company’s stock valued at $127,300,000 after buying an additional 12,173 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in Praxair by 7.4% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 978,952 shares of the basic materials company’s stock valued at $136,799,000 after buying an additional 67,095 shares during the last quarter. Finally, AXA grew its position in Praxair by 1.2% in the 3rd quarter. AXA now owns 247,036 shares of the basic materials company’s stock valued at $34,521,000 after buying an additional 2,987 shares during the last quarter. Hedge funds and other institutional investors own 85.48% 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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