Diversified Trust Co raised its stake in shares of Praxair, Inc. (NYSE:PX) by 6.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,448 shares of the basic materials company’s stock after buying an additional 145 shares during the period. Diversified Trust Co’s holdings in Praxair were worth $324,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Praxair by 2,091.9% in the first quarter. BlackRock Inc. now owns 17,644,355 shares of the basic materials company’s stock valued at $2,092,621,000 after buying an additional 16,839,374 shares during the last quarter. State Street Corp boosted its stake in Praxair by 0.5% in the first quarter. State Street Corp now owns 13,820,497 shares of the basic materials company’s stock valued at $1,639,105,000 after buying an additional 74,856 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Praxair by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 10,901,896 shares of the basic materials company’s stock valued at $1,292,964,000 after buying an additional 48,313 shares during the last quarter. Wellington Management Group LLP boosted its stake in Praxair by 6.2% in the first quarter. Wellington Management Group LLP now owns 7,589,771 shares of the basic materials company’s stock valued at $900,147,000 after buying an additional 446,016 shares during the last quarter. Finally, Parnassus Investments CA boosted its stake in Praxair by 48.5% in the first quarter. Parnassus Investments CA now owns 6,401,228 shares of the basic materials company’s stock valued at $737,895,000 after buying an additional 2,091,079 shares during the last quarter. 84.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Praxair, Inc. (NYSE PX) traded up 0.39% on Friday, reaching $132.30. The company’s stock had a trading volume of 935,072 shares. The firm has a market capitalization of $37.84 billion, a PE ratio of 24.78 and a beta of 0.93. Praxair, Inc. has a one year low of $114.43 and a one year high of $138.69. The firm has a 50-day moving average price of $132.38 and a 200 day moving average price of $126.00.
Praxair (NYSE:PX) last announced its earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $1.39 earnings per share. The business’s revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Praxair, Inc. will post $5.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders 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 payout ratio is 58.88%.
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Several equities analysts have recently commented on the company. Vertical Research upgraded Praxair to a “hold” rating and increased their price objective for the company from $123.00 to $127.00 in a research report on Wednesday, June 7th. Jefferies Group LLC reiterated 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. Deutsche Bank AG reiterated a “hold” rating on shares of Praxair in a research report on Friday, June 2nd. BidaskClub lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research lowered Praxair from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Two research 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’s stock. Praxair presently has an average rating of “Hold” and a consensus price target 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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