Public Employees Retirement Association of Colorado reduced its stake in Praxair Inc. (NYSE:PX) by 2.8% during the second quarter, Holdings Channel reports. The firm owned 153,184 shares of the company’s stock after selling 4,446 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Praxair were worth $17,216,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in Praxair during the second quarter valued at $34,686,000. PGGM Investments increased its stake in Praxair by 12.2% in the second quarter. PGGM Investments now owns 493,421 shares of the company’s stock valued at $55,456,000 after buying an additional 53,601 shares in the last quarter. Atlanta Capital Management Co. L L C increased its stake in Praxair by 2.9% in the first quarter. Atlanta Capital Management Co. L L C now owns 392,677 shares of the company’s stock valued at $44,942,000 after buying an additional 11,120 shares in the last quarter. AMP Capital Investors Ltd increased its stake in Praxair by 1.0% in the first quarter. AMP Capital Investors Ltd now owns 79,465 shares of the company’s stock valued at $9,140,000 after buying an additional 800 shares in the last quarter. Finally, Deprince Race & Zollo Inc. increased its stake in Praxair by 3.7% in the second quarter. Deprince Race & Zollo Inc. now owns 374,757 shares of the company’s stock valued at $42,119,000 after buying an additional 13,512 shares in the last quarter. Institutional investors own 83.78% of the company’s stock.
Praxair Inc. (NYSE:PX) traded up 0.34% during midday trading on Wednesday, hitting $117.53. 401,333 shares of the stock were exchanged. Praxair Inc. has a 12 month low of $95.60 and a 12 month high of $125.00. The company has a market cap of $33.52 billion, a PE ratio of 21.40 and a beta of 0.93. The firm’s 50 day moving average price is $119.77 and its 200 day moving average price is $116.01.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. Praxair had a net margin of 15.09% and a return on equity of 31.66%. The firm earned $2.70 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same period in the previous year, the company earned $1.45 EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Praxair Inc. will post $5.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were paid 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 dividend yield of 2.56%. Praxair’s dividend payout ratio is presently 54.55%.
Several equities analysts have recently commented on PX shares. Jefferies Group reaffirmed a “buy” rating and set a $135.00 price objective on shares of Praxair in a research note on Wednesday, June 15th. TheStreet raised shares of Praxair from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd. Barclays PLC upped their price objective on shares of Praxair from $120.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, July 29th. Morgan Stanley started coverage on shares of Praxair in a research note on Tuesday, September 13th. They set an “equal weight” rating and a $125.00 price objective for the company. Finally, Argus reaffirmed a “hold” rating on shares of Praxair in a research note on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. Praxair currently has an average rating of “Hold” and a consensus price target 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.
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