Quadrant Capital Group LLC raised its position in shares of Praxair Inc. (NYSE:PX) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,168 shares of the company’s stock after buying an additional 11 shares during the period. Quadrant Capital Group LLC’s holdings in Praxair were worth $126,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in PX. State Street Corp increased its position in Praxair by 2.4% in the first quarter. State Street Corp now owns 12,545,803 shares of the company’s stock worth $1,435,875,000 after buying an additional 289,196 shares during the period. BB&T Securities LLC increased its position in Praxair by 33.3% in the first quarter. BB&T Securities LLC now owns 10,935 shares of the company’s stock worth $1,251,000 after buying an additional 2,730 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in Praxair during the first quarter worth about $72,332,000. 1832 Asset Management L.P. increased its position in Praxair by 2,936.4% in the first quarter. 1832 Asset Management L.P. now owns 308,495 shares of the company’s stock worth $59,111,000 after buying an additional 298,335 shares during the period. Finally, Credit Agricole S A increased its position in Praxair by 40.6% in the first quarter. Credit Agricole S A now owns 100,516 shares of the company’s stock worth $11,505,000 after buying an additional 29,005 shares during the period. Institutional investors own 83.78% of the company’s stock.
Shares of Praxair Inc. (NYSE:PX) traded down 1.65% on Friday, reaching $118.85. The company’s stock had a trading volume of 1,126,144 shares. Praxair Inc. has a 12-month low of $95.60 and a 12-month high of $125.00. The firm has a 50 day moving average price of $120.03 and a 200-day moving average price of $115.91. The stock has a market cap of $33.90 billion, a PE ratio of 21.64 and a beta of 0.93.
Praxair (NYSE:PX) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.03. The firm earned $2.70 billion during the quarter, compared to analyst estimates of $2.60 billion. Praxair had a return on equity of 31.66% and a net margin of 15.09%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.45 EPS. Equities research analysts expect that Praxair Inc. will post $5.51 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 8th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Tuesday, September 6th. Praxair’s payout ratio is 54.55%.
A number of equities analysts have issued reports on the company. Credit Suisse Group AG reiterated a “hold” rating and issued a $117.00 price objective on shares of Praxair in a report on Friday, July 29th. Credit Agricole SA increased their target price on Praxair from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. TheStreet raised Praxair from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd. Jefferies Group reissued a “buy” rating and issued a $140.00 target price on shares of Praxair in a research note on Tuesday, August 16th. Finally, Morgan Stanley reissued a “hold” rating and issued a $100.00 target price on shares of Praxair in a research note on Thursday, June 16th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $118.57.
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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