Diversified Trust Co reduced its position in shares of Praxair Inc. (NYSE:PX) by 18.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,153 shares of the company’s stock after selling 500 shares during the period. Diversified Trust Co’s holdings in Praxair were worth $242,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in PX. Carnick & Kubik LLC bought a new stake in Praxair during the first quarter worth approximately $109,000. High Point Bank & Trust Co. raised its stake in Praxair by 25.0% in the second quarter. High Point Bank & Trust Co. now owns 1,250 shares of the company’s stock worth $140,000 after buying an additional 250 shares during the period. Cribstone Capital Management LLC bought a new stake in Praxair during the second quarter worth approximately $181,000. Tompkins Financial Corp raised its stake in Praxair by 183.9% in the second quarter. Tompkins Financial Corp now owns 1,706 shares of the company’s stock worth $192,000 after buying an additional 1,105 shares during the period. Finally, Capital Management Corp VA raised its stake in Praxair by 0.7% in the second quarter. Capital Management Corp VA now owns 1,815 shares of the company’s stock worth $204,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 83.78% of the company’s stock.
Shares of Praxair Inc. (NYSE:PX) traded up 1.66% during mid-day trading on Friday, hitting $120.83. The company had a trading volume of 1,698,281 shares. Praxair Inc. has a 52 week low of $95.60 and a 52 week high of $125.00. The firm has a market capitalization of $34.46 billion, a PE ratio of 22.00 and a beta of 0.90. The firm has a 50-day moving average price of $119.93 and a 200-day moving average price of $115.60.
Praxair (NYSE:PX) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.03. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the business earned $1.45 EPS. Praxair’s revenue was down 2.7% compared to the same quarter last year. Equities analysts forecast that Praxair Inc. will post $5.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. Praxair’s dividend payout ratio is presently 54.55%.
Several equities research analysts recently commented on PX shares. Barclays PLC upped their target price on Praxair from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. Credit Suisse Group AG restated a “hold” rating and set a $117.00 target price on shares of Praxair in a research report on Friday, July 29th. Citigroup Inc. cut their target price on Praxair from $123.00 to $122.00 and set a “neutral” rating on the stock in a research report on Friday, July 29th. Credit Agricole SA upped their target price on Praxair from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Deutsche Bank AG restated a “hold” rating on shares of Praxair in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $118.57.
Praxair Company Profile
Praxair, Inc is an industrial gas supplier in North and South America, Asia and Europe. 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, the Company operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.
Want to see what other hedge funds are holding PX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxair Inc. (NYSE:PX).
Receive News & Ratings for Praxair Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxair Inc. and related companies with MarketBeat.com's FREE daily email newsletter.