Paloma Partners Management Co increased its position in Praxair, Inc. (NYSE:PX) by 180.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,155 shares of the basic materials company’s stock after buying an additional 11,040 shares during the period. Paloma Partners Management Co’s holdings in Praxair were worth $2,034,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Carroll Financial Associates Inc. boosted its position in Praxair by 16.5% in the first quarter. Carroll Financial Associates Inc. now owns 847 shares of the basic materials company’s stock valued at $100,000 after buying an additional 120 shares during the last quarter. Sandy Spring Bank boosted its position 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 valued at $100,000 after buying an additional 200 shares in the last quarter. Capital Analysts LLC boosted its position in shares of Praxair by 6.8% in the first quarter. Capital Analysts LLC now owns 1,015 shares of the basic materials company’s stock valued at $120,000 after buying an additional 65 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Praxair by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,101 shares of the basic materials company’s stock valued at $131,000 after buying an additional 8 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Praxair by 4.0% in the first quarter. Quadrant Capital Group LLC now owns 1,208 shares of the basic materials company’s stock valued at $137,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 84.86% of the company’s stock.
Shares of Praxair, Inc. (NYSE PX) traded up 0.39% on Friday, hitting $132.30. The stock had a trading volume of 935,072 shares. The stock has a market capitalization of $37.84 billion, a PE ratio of 24.78 and a beta of 0.93. The firm’s 50 day moving average is $132.36 and its 200-day moving average is $125.91. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69.
Praxair (NYSE:PX) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the firm earned $1.39 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts expect that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be issued a $0.7875 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 2.38%. Praxair’s dividend payout ratio (DPR) is presently 58.88%.
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Several equities research analysts have recently commented on PX shares. 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 report on Friday, April 21st. Barclays PLC upped their target price on Praxair from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Deutsche Bank AG reaffirmed a “hold” rating on shares of Praxair in a report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $162.00 target price (up from $140.00) on shares of Praxair in a report on Saturday, June 3rd. Finally, Vertical Group raised Praxair to a “hold” rating and increased their price objective for the stock from $123.00 to $127.00 in a research note on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Praxair presently has a consensus rating of “Hold” and an average price target of $135.00.
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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