Capital Management Corp VA boosted its position in shares of Praxair, Inc. (NYSE:PX) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,871 shares of the basic materials company’s stock after buying an additional 11 shares during the period. Capital Management Corp VA’s holdings in Praxair were worth $248,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Exane Derivatives purchased a new position in shares of Praxair during the second quarter worth $109,000. Sandy Spring Bank increased its stake in shares of Praxair by 31.2% in the first quarter. Sandy Spring Bank now owns 842 shares of the basic materials company’s stock worth $100,000 after buying an additional 200 shares during the period. Carroll Financial Associates Inc. increased its stake in shares of Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock worth $100,000 after buying an additional 120 shares during the period. V Wealth Management LLC bought a new stake in shares of Praxair during the second quarter worth about $124,000. Finally, First Command Bank increased its stake in shares of Praxair by 12.6% in the second quarter. First Command Bank now owns 1,003 shares of the basic materials company’s stock worth $133,000 after buying an additional 112 shares during the period. Institutional investors own 85.53% of the company’s stock.
Praxair, Inc. (NYSE PX) traded down 0.14% during midday trading on Friday, reaching $127.44. The company had a trading volume of 582,993 shares. Praxair, Inc. has a 12 month low of $114.43 and a 12 month high of $138.69. The firm has a market capitalization of $36.45 billion, a PE ratio of 23.87 and a beta of 0.93. The firm’s 50-day moving average price is $132.46 and its 200 day moving average price is $125.54.
Praxair (NYSE:PX) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.03. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The business had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the company earned $1.39 EPS. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Wednesday, September 6th. Praxair’s payout ratio is presently 58.88%.
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PX has been the subject of a number of recent research reports. Zacks Investment Research raised Praxair from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research note on Friday, April 21st. Barclays PLC raised their price objective on Praxair from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. Deutsche Bank AG reissued a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. BidaskClub downgraded Praxair from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $162.00 price objective (up from $140.00) on shares of Praxair in a research report on Saturday, June 3rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Praxair currently has a consensus rating of “Hold” and an average target price of $135.00.
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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